General Capital Limited (GEN:NZ) Warrants issued

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) Warrants issued

General Capital Ltd. advises that the final stage of its capital raising is now complete.

Background

General Capital commenced its capital raising program on 15
th
October; a private placement
and a Share Purchase Plan (SPP) was completed with shares being issued on 7
th
December
2018. The Shareholders of General Capital approved the issue of warrants to all shareholders
on the register on Record Date at the Special Meeting held on 29
th
November 2018 with the
record date for the calculation of warrants being Monday 10
th
December.

Computershare has completed the task of allocating warrants overnight and as such all
eligible share holders of General Capital on the register have received their warrants.

153,845,313 2020 warrants (GENWA) have been issued, 146,026,771 to eligible shareholders
and 7,818,542 to a Holding Account managed by General Capital. All warrants were issued on
a basis of one warrant for each share held on record date. The warrants are exercisable on or
before 31
st
March 2020 at 7.75 cents per share for each warrant held. Further details are in
the offer document.

307,690,626 2021 warrants (GENWB) have been issued, 292,053,229 to eligible shareholders
and 15,637,084 to a Holding Account managed by General Capital. All warrants were issued
on a basis of two warrants for each share held on record date. The warrants are exercisable
on or before 30th November 2021 at 9 cents per share for each warrant held. Further details
are in the offer document.

The 7,818,542 2020 warrants and the 15,637,084 2021 warrants were issued to the Holding
Account because some shareholders were ineligible to receive the warrant offer. This is
because they are not resident in New Zealand and hence they are ineligible to receive a New
Zealand offer. The Directors will take advice on how these warrants should be disposed of.
Net proceeds (after deduction of costs) will be remitted to the ineligible shareholders on a
pro-rata basis.

The 29
th
November Special Meeting of Shareholders also approved a pool of 20,000,000 2021
warrants to be offered to Directors and Senior Managers. These have not been issued. The
Directors will consider this matter next year and General Capital will update the market as
and when these warrants are issued.

Mr. Rewi Bugo Chairman of Directors said, “The two warrants are now listed. Shareholders
can check their balances with their normal advisor or Computershare and they are now able
to buy and/or sell these securities. This is a very strong finish to our calendar year. We are
looking to the 2019 year with confidence. We have achieved all of the restructuring targets.
Our focus now is on growth and building on the gains we have made this year. ”


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

For further information please contact
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 warrants issued. ISIN: NZGENE0006S6
Issuer code: GENWA

(b) Number issued or acquired: 153,845,313 GENWA Warrants issued to
eligible shareholders on basis of one
warrant for each share held on record date
of 10 December 2018

(c) Nominal value and issue price or acquisition
price:
Warrants exercisable at 7.75 cents per
share for each warrant exercised any time
on or before 31 March 2020.

(d) Whether payment was in cash: Not Applicable

(e) Any amount paid up: NIl

(f) Percentage of the total Class of Securities
issued or acquired:
100%

(g) Reason for the issue or acquisition: Capital Raising

(h) Specific authority for the issue or
acquisition:
Shareholders resolution at special meeting
29 November 2018

(i) Terms or details of the issue or acquisition: Warrants can be exercised any time on or
before 31 March 2020 at 7.75 cents per
share for each warrant as described in the
offer document

(j) Total number of Securities of the Class in
existence after the issue or acquisition:
153,845,313

(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: 11 December 2018

On behalf of the Board of Directors
Brent King
Managing Director
11 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 warrants issued. ISIN: NZGENE0007S4
Issuer code: GENWB

(b) Number issued or acquired: 307,690,626 GENWB Warrants issued to
eligible shareholders on basis of two
warrants for each share held on record
date of 10 December 2018

(c) Nominal value and issue price or acquisition
price:
Warrants exercisable at 9 cents per share
for each warrant exercised any time on or
before 30 November 2021.

(d) Whether payment was in cash: Not Applicable

(e) Any amount paid up: NIl

(f) Percentage of the total Class of Securities
issued or acquired:
100%

(g) Reason for the issue or acquisition: Capital Raising

(h) Specific authority for the issue or
acquisition:
Shareholders resolution at special meeting
29 November 2018

(i) Terms or details of the issue or acquisition: Warrants can be exercised any time on or
before 30 November 2021 at 9 cents per
share for each warrant as described in the
offer document

(j) Total number of Securities of the Class in
existence after the issue or acquisition:
307,690,626

(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: 11 December 2018

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

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