GEN - General Capital Ltd

[Left Field]

Results out.....encouraging for holders??

https://www.nzx.com/announcements/473141

The Directors of General Capital Limited (GEN), the NZX listed Financial Services Group, are pleased to present another record year of growth for the year ended 31 March 2026. Consolidated Revenue was 18% higher than the previous year, increasing to $26.8m, whilst Net Profit After Tax (NPAT) of $2.7m was broadly in line with the prior year; Total Comprehensive Income was slightly higher at $2.8m when taking into account Other Comprehensive Income from a financial reporting perspective. This reflects continued balance sheet growth, partly offset by higher operating costs, expected credit loss provisioning and the IRG Goodwill impairment. On a normalised basis, the result would have been higher after adjusting for one-off items, including a goodwill impairment of $379k in subsidiary Investment Research Group (IRG), which was absorbed during a challenging global economic environment.
 


Call me old fashioned, but I get a tab concerned when I read about goodwill impairment on related company dealings...$379,000 ??

Disc-  don't hold. Watching with interest.

[lorraina]

Very generous DRP
Dividend Reinvestment Plan Strike Price
General Capital Limited (NZX:GEN) hereby advises that the strike price for the Dividend
Reinvestment Plan (DRP), operating in respect of the dividend payable on 2 July 2026, has
been set at NZ$0.261 per share.
The strike price has been determined in accordance with the General Capital DRP terms, as
the volume weighted average sale price in New Zealand for General Capital shares, calculated
on all trades of General Capital shares which took place through the NZX Main Board over the
period of five trading days starting on 11 June 2026 less a 5% discount.
ENDS
This announcement was authorised by Brent King, Managing Director

[lorraina]

Credit Rating Upgrade.
https://www.nzx.com/announcements/477275

[Dolcile]

Over the last couple of days I've picked up a very small portion in General Capital.  Very illiquid but the 5% discount on the DRIP is nice and hopefully we'll see continued profit growth.

[lorraina]

AGM
General Capital held its Annual Shareholder Meeting in Auckland at 2pm on 20 August 2026. At the
meeting shareholders were asked to vote on three resolutions which were unanimously supported by
the Board.
Yet Brent King was voted off the board,18,780,733 for,against 32,133,645
I take it The Chairman Rewi Bugo changed his mind.
Rather an extraordinary situation.?

[Dolcile]

That's quite strange given Brent is the CEO

[lorraina]

Even stranger in GEN's latest announcement they state the resolution was not carried,
yet only 18,780,733 voted for it while 32,133,645 were against it.

[Plata]

So what is the end result? CEO+Director -> Just CEO? Nice to see some drama for once.

[lorraina]

The only criticism I have had of Brent King's running of GEN is he has been to careful/conservative.
However there appears to have been a big fall out between him and the chairman, who happens to be the largest shareholder.
Going from the latest annual report, and the recent credit upgrade, I think the business is in very good shape.

Disc.During the past year I have gone from a large shareholding to a very modest holding.