Monday 17th March 2025 |
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Introduction
Under section 80(1)(b) of the Companies Act 1993, General Capital Limited (Company) is required to provide NZX Limited with the following disclosure in respect of the financial assistance provided to certain eligible employees (Participating Employees) in connection with the Employee Share Purchase Scheme of General Capital Limited (Scheme). This document is provided for information only and no action is required.
Employee Share Purchase Scheme
The Company established the Scheme under rules dated 6 September 2024. The Scheme was established to enable eligible employees to acquire fully paid ordinary shares in the Company (Shares). The Scheme involves the Company making loans to certain Participating Employees to fund the acquisition of the Shares by such Participating Employees.
Those loans are provided on an interest-free basis and are for a term of up to three years. The loans will be repaid by the Participating Employees in regular instalments over the term of the loan by way of deduction from each after tax payment from their salary or wages.
Disclosure
The following financial assistance was provided by the Company in connection with the Scheme on 14 March 2025:
1 Financial assistance was provided in respect of a total of 872,195 number of shares (Relevant Shares).
2 The Relevant Shares were then allocated to employees at average market price.
3 The financial assistance was provided for the benefit of the persons listed in the Appendix appended to this notice.
4 The nature of the financial assistance was interest-free loans of $245,000 with a maximum term of 40 months. The loans will be repaid by the Participating Employees in regular instalments over the term of the loan by way of deduction from each after tax payment from their salary, wages or commissions.
5 The Scheme was open to eligible members of the Company and its subsidiary company General Finance Limited.
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