General Capital Limited — Major Shareholding Notification 2021

Sep 28, 2021

Disclosure of ceasing to have substantial holding

Section 279, Financial Markets Conduct Act 2013

To NZX Limited

and

To General Capital Limited

Date this disclosure made: 28 September 2021

Date last disclosure made: 1 October 2019

Date on which substantial holding ceased: 27 September 2021

Substantial product holder(s) giving disclosure

Full name(s): Belian Holdings Limited

Summary of previous substantial holding

Class of quoted voting products: Ordinary Shares in General Capital Limited (GEN:NZX).

Summary for Belian Holdings Limited

For last disclosure,—

• (a) total number held in class: 12,377,869.

• (b) total in class: 160,928,963.

• (c) total percentage held in class: 7.69%

For current holding after ceasing to have substantial holding,—

• (a) total number held in class: 96,981 (including relevant interest in 96,981 calculated in accordance with s275 of FMCA in relation to holding of 18,755,738 GENWB:NZX Warrants).

• (b) total in class: 171,207,112.

• (c) total percentage held in class: 0.057%.

Details of transactions and events giving rise to ceasing of substantial holding

Details of the transactions or other events requiring disclosure:

On 27 September 2021, Belian Holdings Limited sold 12,377,869 ordinary shares in General Capital Limited to Borneo Capital Limited at a purchase price of 6.0 cents per share for total consideration of $742,672.14.

Additional information

Address(es) of substantial product holder(s): Belian Holdings Limited, Telfer Chartered Accountants Limited, 13 Homestead Road, Kerikeri, Kerikeri, 0230, New Zealand

Contact details: Graeme Brown, +60 19 856 0221, graeme.brown@limargroup.com.

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Name of any other person believed to have given, or believed to be required to give, a disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to which this disclosure relates: Borneo Capital Limited

Certification

I, Graeme Brown , 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.

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