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 31 March 2023 to the
Disclose Register.
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

1 May 2023
END

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Issue 30 26 April 2023

GENERAL FINANCE LIMITED
Quarterly report as at 31 March 2023


KEY RATIOS



Capital Ratio


31 March 2023


Our capital ratio calculated in accordance
with the 2010 Regulations*

21.83%

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


31 March 2023


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

0.08% 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 30 26 April 2023




Liquidity

31 March 2023


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

3.96 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
31 March 2023

Total Assets 127,685,803
Total Liabilities 111,697,481
Net Profit / (Loss) After Tax 751,869
Net Cash Inflow (Outflow) from Operating
Activities
(18,966,913)
Cash and Cash Equivalents 9,443,743
Term Deposits
1
8,924,560
Capital (per 2010 Regulations) 15,742,400

1
New Zealand Registered Bank deposits with original term of greater than 92 days.

Issue 30 26 April 2023

HOW THE RATIOS HAVE BEEN CALCULATED


CAPITAL RATIO

Position at 31 March 2023



Capital


Gross capital 15,988,321

Less deductions 245,922

Total capital 15,742,400


Risk

Risk Weighted
Exposures Exposure Weight Exposures

NZ Registered Bank Deposits 18,368,303 20%

3,673,661
Residential mortgages:

LVR 70% and under 91,396,891 35%

31,988,912
LVR over 70% and under 80% - 50% -
Property development loans:
LVR over 60% and under 100% 2,102,061 200%

4,204,121
Other loans with qualifying security
over land and buildings:

LVR 70% and under 15,335,353 100%

15,335,353

Other assets 237,274 350%

830,460
Deductions from capital 245,922

-

Total credit risk weighted exposures
(A)

56,032,506

Total assets (B) 127,685,803

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

16,075,352


Total Exposures

72,107,858
Capital Ratio

21.83%
(being Total Capital/Total Exposures)




21.83%


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

Issue 30 26 April 2023





AGGREGATE EXPOSURE TO RELATED PARTIES

Loans and other on balance sheet exposures to related
parties (A) 12,608
Other related party exposures (B) Nil
Capital (C) 15,742,400
(A + B) / C 0.08%

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


LIQUIDITY

Liquidity (A) 18,368,303

3 month expected loan receivables (B) 15,817,551

3 month expected gross deposit redemptions (C) 8,626,193

(A + B) / C 3.96 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.