General Capital (GEN:NZ) warrant tender proceeds

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 (GEN:NZ) announces distribution of proceeds from warrant tender


General Capital has previously advised about a public tender process for the warrants that
could not be issued to shareholders who were deemed ineligible because they were resident
overseas.

Mr. Rewi Bugo, Chair of General Capital Limited advised, “The warrants were sold at market
value in a public tender process. After the associated costs of the sale process were deducted,
the net funds available to be distributed on a pro rata basis to the 105 ineligible shareholders
is approximately $1,400.

We have estimated the costs of communicating with overseas shareholders, currency
conversion costs and bank fees and we have concluded that it is uneconomic to distribute the
funds. The net amount to ineligible shareholders is negligible or $nil after costs.

General Capital has considered options and has decided to instead donate the net funds to
The Rising Foundation Trust, a registered charity. Mr. John Bongard ONZM CRSNZ is the
Board Chair. The Trust is not associated with General Capital nor any of its directors,
shareholders or staff.”

Further information on the charity can be found at http://www.therisingfoundation.org.nz/


Small Shareholders

General Capital has previously advised shareholders that since its transition to the main board
of the NZX, a minimum holding is now $1,000. Shareholders with below a minimum holding
are costly for the Company to maintain.

Directors have advised that shareholders with small holdings can donate their shares and
warrants to charity.

Mr. Bugo said, “we have arranged for The Rising Foundation Trust to accept a donation
(transfer) of the small holdings including small holdings of warrants.

If any shareholder wishes to donate their shares or warrants to this very worthy charity,
please contact General Capital.”

Shareholder Bonus

Shareholders who own at least a minimum holding of General Capital shares are entitled to
bonus interest rates should they wish to invest in General Finance Limited secured term
deposits.

Further information on General Finance Limited can be found at www.generalfinance.co.nz.

We are pleased to note that there has been a steady flow of shareholders wishing to take
advantage of this option.


For further information on donating your holdings, contact:

General Capital Limited
+64 9 304 0145
info@gencap.co.nz

For further information on shareholder bonus interest rates, contact:

General Finance Limited
+64 9 526 5000
investment@generalfinance.co.nz


For general information contact:

Brent King
Managing Director
General Capital Limited
+64 21 632 660
Brent.King@gencap.co.nz


4 November 2019