GENERATION DEVELOPMENT GROUP LIMITED — Share Issue/Capital Change 2021

Jun 23, 2021

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ASX Announcement

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24 June 2021

Eligible employees issued with $1,000 worth of GDG shares

Generation Development Group Limited (ASX:GDG) (Company) is pleased to advise that eligible employees, in recognition of their continuing contribution to the Company, have received a discretionary issue of $1,000 worth of new fully paid ordinary shares in the Company (Shares) for nil monetary consideration (Offer).

The Offer has been made under and in accordance with the Company's Employee Tax Exempt Share Plan to eligible employees. The issue price for these new Shares is the 5 day VWAP of GDG shares on the ASX for the period 17-23 June 2021. The Shares were issued on 24 June 2021 (Issue Date).

Recipients of Shares issued under the Offer will not be able to deal with their new Shares until the earlier of the third anniversary of the Issue Date and the date on which they cease to be an employee of the Company.

The Company has issued a total of 62,699 new Shares to 53 eligible employees. An Appendix 2A follows.

Authorised by and contact for further information:

Terence Wong Chief Financial Officer

Telephone: +61 3 8601 2021