General Capital (GEN:NZ) subsidiary General Finance update.

General Capital Limited
Level 8, General Capital House,
115 Queen Street, Auckland CBD
PO Box 1314, Shortland Street,
Auckland, New Zealand. 1140.
Phone +64 9 304 0145



General Capital (GEN:NZ) subsidiary General Finance update.

General Capital Limited advises that its subsidiary General Finance Limited, a licensed Non-bank
Deposit Taker, has uploaded its quarterly report for the quarter ended 30 June 2021 to the Disclose
Register today.

The unaudited quarterly report shows that General Finance’s business has continued to grow with the
achievement of new record levels in its total assets ($71.3m, up 10.5% from 31 March 2021) and
quarterly NPAT ($219k, up 292.0% from average quarterly NPAT in the financial year ended 31 March
2021).

Mr. Brent King, Managing Director, explained that this report is required as General Finance Limited
holds a Non-bank Deposit Taker licence and the reporting is a requirement of the Financial Markets
Conduct Act 2013.

“We will continue to advise the market each time General Finance Limited uploads a document to the
Disclose Register”, said Mr. King.

The information can be found at www.disclose-register.companiesoffice.govt.nz.

For further information contact:

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

28 July 2021

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Issue 23 28 July 2021

GENERAL FINANCE LIMITED
Quarterly report as at 30 June 2021


KEY RATIOS



Capital Ratio


30 June 2021


Our capital ratio calculated in accordance
with the 2010 Regulations*

15.76%

Minimum capital ratio required by our
Trust Deed if the issuer has a credit rating

8%


Minimum capital ratio that must be
included in the trust deed under reg 8(2) of
the 2010 Regulations* if the issuer has a
credit rating

8%


The capital ratio is a measure of the extent to which General Finance is able to absorb losses without becoming
insolvent. The lower the capital ratio, the fewer financial assets General Finance has to absorb unexpected losses
arising out of its business activities.





Related Party Exposures


30 June 2021


Our aggregate exposures to related
parties as calculated in accordance with
the 2010 Regulations*

2.31% of capital

Maximum limit on aggregate exposures to
related parties that we must not exceed
that is included in our Trust Deed

10% of capital

Maximum limit on aggregate exposures to
related parties that we must not exceed
that must be included in our Trust Deed
under reg 23(3)(b) of the 2010
Regulations*

15% of capital

Related party exposures are financial exposures that General Finance has to related parties. A related party is an
entity that is related to General Finance through common control or some other connection that may give the party
influence over General Finance (or General Finance over the related party).


* Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010

Issue 23 28 July 2021







Liquidity

30 June 2021


Our liquidity calculated in accordance with
the quantitative liquidity requirements
included in our Trust Deed

5.12 times

The minimum liquidity requirements
required by our Trust Deed

A liquidity cover ratio of 1.25 times

Liquidity requirements help to ensure that General Finance has sufficient realisable assets on hand to pay its debts
as they become due in the ordinary course of business. Failure to comply with liquidity requirements may mean that
General Finance is unable to repay investors on time and may indicate other financial problems in its business.






SELECTED FINANCIAL INFORMATION

Quarter to
30 June
2021

Total Assets
71,262,580

Total Liabilities
64,987,503

Net Profit / (Loss) After Tax
218,954

Net Cash Inflow / (Outflow) from Operating
Activities (4,001,843)

Cash and Cash Equivalents
10,851,920

Term Deposits
1
Capital (per 2010 Regulations)
2,000,000
6,198,015


1
New Zealand Registered Bank deposits with original term of greater than 180 days.

Issue 23 28 July 2021

HOW THE RATIOS HAVE BEEN CALCULATED


CAPITAL RATIO


Capital


Gross capital 6,275,077

Less deductions 77,062

Total capital 6,198,015



Risk

Risk Weighted
Exposures Exposure Weight Exposures

NZ Registered Bank Deposits 12,851,920 20% 2,570,384
Residential mortgages:

LVR 70% and under 43,100,417 35% 15,085,146
LVR 70% - 80% 6,742,841 50% 3,371,421
Second mortgages 107,221 150% 160,832
Other loans with qualifying security
over land and buildings:

LVR 70% and under 8,040,465 100% 8,040,465

Other assets 342,654 350% 1,199,289
Deductions from capital 77,062

-

Total credit risk weighted exposures
(A)

30,427,537

Total assets (B) 71,262,580

Operational and Market Exposures (A+B)/2x0.175

8,897,885


Total Exposures

39,325,422

Capital Ratio

15.76%
(being Total Capital/Total Exposures)


1
Refer to Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations
2010.

Issue 23 28 July 2021

AGGREGATE EXPOSURE TO RELATED PARTIES

Loans and other on balance sheet exposures to related
parties (A) 143,006
Other related party exposures (B) Nil
Capital 6,198,015
(A + B) / C 0.18%

*Related party exposures are calculated by dividing total related party exposures by Capital
(per 2010 Regulations).


LIQUIDITY

Liquidity (A) 6,251,920

3 month expected loan receivables (B) 9,720,114

3 month expected gross deposit redemptions (C) 3,120,121

(A + B) / C 5.12 times




*The Liquidity Cover Ratio is calculated by dividing Liquidity plus the 3 month expected loan
receivables, by the 3-month expected gross deposit redemptions.