Pembroke Vct Regulatory News (PEMB)

Pembroke VCT plc (the "Company")

16 July 2020

Publication of a Circular

The Company has today issued a circular (the "Circular") relating to proposals for the amendment to the Company's articles of association to provide for the conversion of the Company's ordinary shares to B ordinary shares, changes to the Company's investment management arrangements, including revised performance incentive fee arrangements, and changes to the provisions in the Company's articles of association relating to directors' fees.

Full details of these proposals are set out in the Circular and are conditional upon the approval of the Company's shareholders at a general meeting and ordinary share class meeting to be held on 14 August 2020, at which resolutions to approve the proposals will be proposed.

The Circular will shortly be available for inspection at the National Storage Mechanism, which is located at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

and on the Company's website at:

www.pembrokevct.com

For further details about the Company please either visit the Company's website:

Pembroke VCT plc

www.pembrokevct.com

or contact:

Pembroke Investment Managers LLP (Manager)

020 7766 2836

Andrew Wolfson

The City Partnership (UK) Limited (Company Secretary)

0131 243 7210

Doreen Nic

Share Communications

07866 639014

Zoe Powell