We have studied the phase separation process in a mixture of a liquid crystal material and two different monomers undergoing a polymerization process. Phase equilibrium was theoretically analysed using a Van der Waals free energy density approach. Results indicate that the more slowly reacting monomer will be found at higher concentration at the droplet boundary in the fully cured polymer dispersed liquid crystal. Experimental evidence, which includes the observation of director configurations and the measurement of transmission in the on-state, is presented.