General Capital (GEN:NZ) Completes Capital Raise

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) General Capital Completes Capital Raise
General Capital, the NZX Listed Financial Services company today advised NZX that the
capital raise approved at the Extraordinary Shareholders Meeting on 19/1/23 has now been
completed. This placement will increase our Equity by over 50% and hence is material to the
General Capital Group.
The Chairman of the Board, Mr. Rewi Bugo, said “we welcome API No.1 Limited
Partnership as a new shareholder in General Capital. We are sure Megan Glen and Anton
Douglas will make significant contributions as non-executive directors of General Capital
and General Finance respectively.
As a group we have worked hard to build our businesses. This step is another step for us
both in terms of capital but also in terms of people. I am personally very pleased to be able
to invest further funds into General Capital. I am pleased with the progress we have made
and am sure we can grow at an even faster rate with the additional resources we obtained
today. The additional capital and the new Directors will be of significant value to us.” said
Mr. Bugo.
Brent King, the Managing Director, said “This is another significant step for the General
Capital Group. We have had a very positive year and we are seeing strong growth in lending
demand. The additional funds will give us more options and allows us to take advantage of
opportunities as they present themselves. The market is starting to see some pressures
appear and we want to be ready, willing and able to consider whether they are a good fit for
us.
In the meantime, we will continue our strong growth and continue building our business. I
want to thank Michael Johns as the leader of API and Megan and Anton as our new
Directors for the way they have handled the transaction and to say how much I am looking
forward to working with them.”
For further information contact:
Brent King
Managing Director
General Capital Limited
+64 21 632 660
Brent.King@gencap.co.nz
17 February 2023
END

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Capital Change Notice

Updated as at 17 October 2019


Section 1: Issuer information
Name of issuer General Capital Limited
NZX ticker code GEN:NZ
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZMYKE0001S9
Currency NZD
Section 2: Capital change details
Number issued 150,917,479
Nominal value (if any) $8,677,755.03
Issue price per security NZD$0.0575
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
(calculated on the number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
1

70.97%
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)
Not applicable
Reason for issue and specific authority for issue (the reason
for change must be identified here)
Issue of ordinary shares to
existing shareholder, Borneo
Capital Limited, and new
wholesale investor, API No 1
Limited Partnership, to expand
the Group’s capital in line with
announced intentions.

The share issue was
authorised by directors’
resolutions dated 17 February
2023 in accordance with
shareholders resolutions
passed at an extraordinary
shareholder meeting held on
19 January 2023 for the
purposes of NZX Listing Rule
4.2.1 and 5.2.1 and Rule 7(d)
of the Takeovers Code.
Total number of Financial Products of the Class after the issue
(excluding Treasury Stock) and the total number of Financial
Products of the Class held as Treasury Stock after the issue.
363,574,975 Ordinary Shares

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

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, including a reference to the
rule pursuant to which the issue is made
The share issue was
authorised by directors
resolutions dated 17 February
2023 in accordance with the
shareholders resolutions
passed at an extraordinary
shareholder meeting held on
19 January 2023 for the
purposes of NZX Listing Rule
4.2.1 and 5.2.1 and Rule 7(d)
of the Takeovers Code.
Terms or details of the issue (for example: restrictions, escrow
arrangements)
New ordinary shares which
rank equally with all other fully
paid ordinary shares
Date of issue
2
17/02/2023
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Brent King
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

17/02/2023




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).