General Capital (GEN:NZX) Further Regulatory 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) Further Regulatory Update
On 6 July 2023 General Capital Limited (“General”) advised the market that it had become aware of
a potential breach of the Takeovers Code following the purchase of shares on 14 and 15 June 2023
by Borneo Capital Limited (“Borneo”), a substantial shareholder in General.

General also confirmed it had advised both Borneo and the Takeovers Panel of the potential breach
and that it understood Borneo would be divesting itself of the shares mistakenly purchased.

General can now update the market as follows:

• Borneo has sold the shares, which represented approximately 0.06% of the shares on issue
(noting the previous NZX announcement incorrectly referred to 0.05%), which were the
subject of the potential breach.

• The Takeovers Panel has confirmed that, whilst they considered there was a reasonable
possibility that Borneo may have breached the Code, in light of all of the relevant
circumstances, including the corrective actions taken and the prompt self-reporting of the
possible breach to the Panel, the Panel had decided not to take further action at this time.

ENDS

This announcement was authorized by Brent King, Managing Director

For further information contact:

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

9 August 2023