GEN Notice of exercise of warrants

Capital Change Notice



The ordinary shares were issued in relation to GENWA warrants that were exercised prior to
their expiry date of 31 March 2020, but the exercise forms had been received by General
Capital Limited after 31 March 2020.

Refer to capital change notice released to the market on 2/04/2020 at 8:30 am. The result of
this announcement is a reduction of the number of GENWA warrants that had lapsed on expiry
date to 146,038,725.

Section 1: Issuer information
Name of issuer General Capital Limited
NZX ticker code GEN
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZMYKE0001S9
Currency NZ$
Section 2: Capital change details
Number issued/acquired/redeemed 2,000
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security 2,000 GENWA Warrants
exercised at 7.75 cents per
share and converted into 2,000
ordinary shares.
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) Paid in full
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury Stock,
in existence)
1

0.0012%
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion
price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or the
Option (for example, the exercise price and exercise date)
GENWA Warrants had a final
exercise date of 31 March
2020 and had an exercise
price of 7.75 cents per share.

Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Conversion of GENWA
warrants into ordinary shares
pursuant to NZX rule 4.9.1(b).
The GENWA warrants were
authorised by shareholders
resolution at special meeting
on 29 November 2018.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
161,657,643

Stock) and the total number of Financial Products of the Class
held as Treasury Stock after the issue/acquisition/redemption.
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable.
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Conversion of GENWA
warrants into ordinary shares
pursuant to NZX rule 4.9.1(b).
The GENWA warrants were
authorised by shareholders
resolution at special meeting
on 29 November 2018.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Exercise of GENWA warrants
for ordinary shares on a 1 for 1
basis at 7.75 cents per share.
Date of issue/acquisition/redemption 15/04/2020
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Jonathan Clark
Contact person for this announcement Brent King
Contact phone number +64 21 632 660
Contact email address Brent.King@gencap.co.nz
Date of release through MAP

15/04/2020

---

Capital Change Notice



The ordinary shares were issued in relation to GENWA warrants that were exercised prior to
their expiry date of 31 March 2020, but the exercise forms had been received by General
Capital Limited after 31 March 2020.

Refer to capital change notice released to the market on 2/04/2020 at 8:30 am. The result of
this announcement is a reduction of the number of GENWA warrants that had lapsed on expiry
date to 146,038,725.
Section 1: Issuer information
Name of issuer General Capital Limited
NZX ticker code GENWA
Class of financial product GENWA Warrants
ISIN (If unknown, check on NZX website) NZGENE0006S6
Currency NZ$
Section 2: Capital change details
Number issued/acquired/redeemed 2,000 Warrants exercised

Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security 2,000 GENWA Warrants
exercised at 7.75 cents per
share and converted into 2,000
ordinary shares.

Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) Paid in full
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury Stock,
in existence)
1

Not applicable. Refer to capital
change notice released to the
market on 2/04/2020 at 8:30
am.

The result of this
announcement is a reduction
of the number of GENWA
warrants that had lapsed on
expiry date to 146,038,725.
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion
price and Conversion date and the ranking of the Financial
Product in relation to other Classes of Financial Product) or the
Option (for example, the exercise price and exercise date)
GENWA Warrants had a final
exercise date of 31 March
2020 and had an exercise
price of 7.75 cents per share.
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Conversion of GENWA
warrants into ordinary shares
pursuant to NZX rule 4.9.1(b).

The remaining warrants lapsed
as they were not exercised on
or before the final exercise
date of 31 March 2020.

The GENWA warrants were
authorised by shareholders
resolution at special meeting
on 29 November 2018.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
Stock) and the total number of Financial Products of the Class
held as Treasury Stock after the issue/acquisition/redemption.
Nil
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable.
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Conversion of GENWA
warrants into ordinary shares
pursuant to NZX rule 4.9.1(b).

The remaining warrants lapsed
as they were not exercised on
or before the final exercise
date of 31 March 2020.

The GENWA warrants were
authorised by shareholders
resolution at special meeting
on 29 November 2018.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Exercise of GENWA warrants
for ordinary shares on a 1 for 1
basis at 7.75 cents per share.

The remaining warrants lapsed
as they were not exercised on
or before the final exercise
date of 31 March 2020.
Date of issue/acquisition/redemption 15/04/2020
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Jonathan Clark
Contact person for this announcement Brent King
Contact phone number +64 21 632 660
Contact email address Brent.King@gencap.co.nz
Date of release through MAP

15/04/2020