General Capital Limited (GEN:NZ) Capital Raising Update

General Capital Limited
Level 7, 12-26 Swanson Street,
PO Box 1314, Shortland Street,
Auckland, New Zealand. 1140.
Phone +64 9 304 0145
Fax +64 9 358 3858


General Capital Limited (GEN:NZ) Capital Raising Update

General Capital advises that it has successfully completed the Capital Raising process that was
announced on the 15
th
of October.


Mr. Rewi Bugo, Chairman of General Capital said “This has been a very busy and successful
year for General Capital. We listed on the 3
rd
of August. We now have a business with strong
cash flows, significant revenues and total assets of approximately $18million. The capital we
have raised will allow us to increase the capital of General Finance and hence the loan book.
General Finance is a Non-Bank Deposit Taker (NBDT) which specialises in lending on
residential property.

Our subsidiary, Investment Research Group Ltd (IRG) has advised on the listing of Sport &
Education Ltd (SEC). SEC listed on USX on Monday the 3
rd
of December. IRG has also published
the 44
th
Edition of the very popular IRG Investment Yearbook this month. The IRG Investment
Yearbook is available on IRG’s website and also available at good bookshops.”

Mr. Bugo said, “The capital markets around the world are challenging currently so the success
of the capital raise exceeding our stated target has been very pleasing. The Board thanks all
the investors for their support and we look forward to rewarding all shareholders by issuing
two classes of warrants next week. ”

The Components of the Capital Raise are as follows:

Share Purchase Plan

2,402,978 ordinary shares have been issued to 39 shareholders with an aggregate
subscription value of $162,000.

Placements

18,615,073 ordinary shares have been issued to wholesale investors for an aggregate
subscription value of $1,256,518.
1,037,037 ordinary shares have been issued to Directors and Senior Managers for an
aggregate subscription value of $70,000.
8,850,111 ordinary shares have been issued to Borneo Capital Limited (Borneo) for an
aggerate subscription value of $529,883 to allow Borneo to maintain its current 26.25%
shareholding in the Company.

All shares were issued at a price of 6.75 cents per share.

Warrants
The Shareholders of General Capital Ltd approved the issue of warrants to all shareholders on
the register on Record Date at the Special Meeting held on the 29th November 2018. General
Capital has previously advised the market that the record date for the calculation of warrants
is Monday 10
th
December and that the warrants will be issued on Tuesday 11
th
of December
2018.


On behalf of the Board of Directors
Rewi Bugo
Chairman
7 December 2018

For further information please contact
Mr. Brent King
64 (0)21 632 660
Brent.King@GenCap.co.nz

---

General Capital Limited
Level 7, 12-26 Swanson Street,
PO Box 1314, Shortland Street,
Auckland, New Zealand. 1140.
Phone +64 9 304 0145
Fax +64 9 358 3858



NZX Alternative Market - Notice pursuant to Listing Rule 7.11.1

(a) Class of Security and ISIN:
new ordinary shares ranking equally with
the existing ordinary shares on issue in all
respects. ISIN: NZVIKE0002S1 Issuer
code: GEN



(b) Number issued or acquired: 1)Share Purchase Plan 2,402,978
2)Placements 18,615,073
3)Placement to Directors and
Senior Mangers 8,887,148
Total 29,905,199



(c) Nominal value and issue price or acquisition
price:
The issue price for the shares is 6.75
cents per share



(d) Whether payment was in cash: Cash



(e) Any amount paid up: 1)Share Purchase Plan $162,200
2)Placements $1,256,518
3)Placement to Directors and
Senior Mangers $599,883
Total $2,018,600

(f) Percentage of the total Class of Securities
issued or acquired:
1)Share Purchase Plan 1.94%
2)Placements 15.02%
3)Placement to Directors and
Senior Mangers $7.17%
Total $24.13%



(g) Reason for the issue or acquisition: Growth of business



(h) Specific authority for the issue or
acquisition:
1)Share Purchase Plan Directors Resolution
2)Placements Shareholders Resolution
3)Placement to Directors and
Senior Managers Directors Resolution

(i) Terms or details of the issue or acquisition: Not Applicable



(j) Total number of Securities of the Class in
existence after the issue or acquisition:
156,845,313

(k) In the case of an acquisition of shares by an
Issuer which is a company registered under
the Companies Act 1993, whether those
shares are to be held as Treasury Stock:
Not Applicable



(l) Dates of issue or acquisition: 6 December 2018



On behalf of the Board of Directors
Brent King
Managing Director
7 December 2018

For Further information please contact
Mr. Brent King
64 (0)21 632 660
Brent.King@GenCap.co.nz