General Capital Limited — Director's Dealing 2021

Sep 28, 2021

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Ongoing Disclosure Notice Disclosure of Directors and Senior Managers Relevant Interests

Sections 297(1) and 298(1), Financial Markets Conduct Act 2013

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To NZX Limited; and
Name of listed issuer: General Capital Limited
Date this disclosure made: 28/09/2021
Date of last disclosure: 3/10/2019
Director or senior manager giving disclosure
Full name(s): Rewi Hamid Bugo
Name of listed issuer: General Capital Limited
Name of related body corporate (if applicable): N/A
Position held in listed issuer: Director
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products: Ordinary Shares
Relevant interest in ordinary shares in General Capital Limited
held and beneficially owned by Borneo Capital Limited. Rewi
Hamid Bugo has a relevant interest in the ordinary shares
Nature of the affected relevant interest(s):
beneficially owned by Borneo Capital Limited by virtue of
holding and having the power to exercise the right to vote
attaching to, and the power to dispose of, 20% or more of the
voting products of Borneo Capital Limited.
For that relevant interest-
Number held in class before acquisition or disposal: 42,249,755
63,388,991 (including relevant interest in 428,034 calculated in
Number held in class after acquisition or disposal: accordance with s275 of FMCA in relation to holding of
82,780,222 GENWB:NZX Warrants).
Current registered holder(s): N/A
Registered holder(s) once transfers are registered: Borneo Capital Limited
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:
Class of underlying financial products:
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
A statement as to whether the derivative is cash settled or physically settled:
Maturity date of the derivative (if any):
Expiry date of the derivative(if any):
The price specified in the terms of the derivative (if any):
Any other details needed to understand how the amount of the consideration
payable under the derivative or the value of the derivative is affected by the value
of the underlying financial products:
For that derivative,-
Parties to the derivative:
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 2
Details of transactions requiring disclosure-
Transaction 1: 27 September 2021
Date of transaction: Transaction 2: 27 September 2021
Transaction 1: Issue of new ordinary shares.
Nature of transaction: Transaction 2: Off-market purchase of ordinary shares.
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Transaction 1: Not applicable. Name of any other party or parties to the transaction (if known): Transaction 2: Belian Holdings Limited The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily Transaction 1: $500,000 (6.0 cents per share) by converted into a cash value, describe the consideration: Transaction 2: $742,672.14 (6.0 cents per share) Transaction 1: 8,333,333 ordinary shares Number of financial products to which the transaction related: Transaction 2: 12,377,869 ordinary shares If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details— Whether relevant interests were acquired or disposed of during a closed period: Yes Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period: Yes Date of the prior written clearance (if any):

Yes Yes 27/09/2021 GENWB Warrants Relevant interest in 80,780,222 GENWB warrants issued to, held and beneficially owned by Borneo Capital Limited. Rewi Hamid Bugo has a relevant interest in the warrants beneficially owned by Borneo Capital Limited by virtue of holding and having the power to exercise the right to vote attaching to, and the power to dispose of, 20% or more of the voting products of Borneo Capital Limited.

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Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products: GENWB Warrants
Relevant interest in 80,780,222 GENWB warrants issued to,
held and beneficially owned by Borneo Capital Limited. Rewi
Hamid Bugo has a relevant interest in the warrants beneficially
owned by Borneo Capital Limited by virtue of holding and
having the power to exercise the right to vote attaching to, and
the power to dispose of, 20% or more of the voting products of
Borneo Capital Limited.
Beneficial interest in 2,000,000 GENWB warrants issued to and
held by Borneo Capital Limited as bare trustee for Rewi Hamid
Nature of relevant interest: Bugo
For that relevant interest,-
Number held in class: 82,780,222
Current registered holder(s): Borneo Capital Limited
For a derivative relevant interest,-
Type of derivative: GENWB Warrants
Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying 82,780,222 GENWB warrants (conversion ratio of one ordinary
financial products (if any): share for every one warrant held if exercised)
A statement as to whether the derivative is cash settled or physically settled: Cash Settled
Maturity date of the derivative (if any): Last exercise date of 30/11/2021
Expiry date of the derivative (if any): Last exercise date of 30/11/2021
The price's specified terms (if any): 9.00 cents per share on the exercise of each warrant
Any other details needed to understand how the amount of the consideration
payable under the derivative or the value of the derivative is affected by the value N/A
of the underlying financial products:
For that derivative relevant interest,-
Parties to the derivative: Borneo Capital Limited
If the director or senior manager is not a party to the derivative, the nature of the Relevant interest in 80,780,222 GENWB warrants issued to,
relevant interest in the derivative: held and beneficially owned by Borneo Capital Limited. Rewi
Hamid Bugo has a relevant interest in the warrants beneficially
owned by Borneo Capital Limited by virtue of holding and
having the power to exercise the right to vote attaching to, and
the power to dispose of, 20% or more of the voting products of
Borneo Capital Limited.
Beneficial interest in 2,000,000 GENWB warrants issued to and
held by Borneo Capital Limited as bare trustee for Rewi Hamid
Bugo
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Certification

I, certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made.

Signature of director or officer: Date of signature: or Signature of person authorised to sign on behalf of director or officer: Date of signature: Name and title of authorised person:

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28/09/2021