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Election available to Dipula B ordinary shareholders to reinvest the cash dividend in return for B ordinary shares
DIPULA INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/013963/06)
JSE share code: DIB ISIN: ZAE000203394
(Approved as a REIT by the JSE)
(“Dipula” or “the company”)
DECLARATION OF A CASH DIVIDEND WITH THE ELECTION AVAILABLE TO DIPULA B ORDINARY SHAREHOLDERS TO REINVEST THE CASH DIVIDEND IN
RETURN FOR B ORDINARY SHARES
On 11 November 2015 it was announced in the company’s results for the year ended 31 August 2015 (the “year end results”) that
the board of directors of Dipula has declared a final cash dividend of 44.95016 cents per B ordinary share (the “cash dividend”).
B ordinary shareholders are advised that they have an election, in respect of all or part of their B ordinary shareholding, to re-
invest the cash dividend in return for B ordinary shares (the “share re-investment alternative”), failing which they will receive
the cash dividend. The share re-investment alternative is not being offered to Dipula A ordinary shareholders, who will all receive
the cash dividend detailed in the year end results.
A circular to Dipula B ordinary shareholders providing further information in respect of the cash dividend and share re-investment
alternative will be posted to Dipula B ordinary shareholders today, 12 November 2015.
Shareholders who have dematerialised their shares through a Central Securities Depository Participant (“CSDP”) or broker should
instruct their CSDP or broker with regard to their election in terms of the custody agreement entered into between them and their
CSDP or broker.
Salient dates and times
The salient dates and times for the share re-investment alternative are as set out below.
Salient dates and times 2015
Circular and form of election posted to shareholders Thursday, 12 November
Finalisation information including the share ratio and re-investment price per B ordinary share
published on SENS Friday, 20 November
Last day to trade in order to participate in the election to receive the share re-investment
alternative or to receive the cash dividend (“LDT”) Friday, 27 November
Shares trade ex-dividend Monday, 30 November
Listing of maximum possible number of B ordinary shares under the share re-investment
alternative Wednesday, 2 December
Last day to elect to receive the share re-investment alternative (by 12:00 South African time)
(no late forms of election will be accepted) Friday, 4 December
Record date for the election to receive the share re-investment alternative Friday, 4 December
Announcement of results of share re-investment alternative released on SENS Monday, 7 December
Cash dividend cheques posted to certificated B ordinary shareholders on or about Monday, 7 December
Dematerialised B ordinary shareholder accounts credited with the cash dividend payment by
CSDP or broker Monday, 7 December
B ordinary share certificates posted to certificated B ordinary shareholders on or about Wednesday, 9 December
Dematerialised B ordinary shareholder accounts updated with B ordinary shares (if applicable)
by CSDP or broker Wednesday, 9 December
Adjustment to number of B ordinary shares listed on or about Friday, 11 December
Notes:
1. B ordinary shareholders electing to participate in the share re-investment alternative are alerted to the fact that the
new B ordinary shares will be listed on LDT + 3 and can therefore only be traded on LDT + 3. This is due to the fact
that settlement of the B ordinary shares will be two days after the record date, which differs from the conventional one
day after record date settlement process.
2. B ordinary shares may not be dematerialised or rematerialised between Monday, 30 November 2015 and Friday, 4 December
2015, both days inclusive.
3. The above dates and times are subject to change. Any changes will be released on SENS.
Tax implications
B ordinary shareholders are referred to the announcement released on SENS on 11 November 2015 for details as to the tax
implications of the cash dividend and share re-investment alternative. B ordinary shareholders are advised that pre-taxation funds
are utilised for the purposes of the share re-investment alternative and that tax will be due on the total cash dividend amount of
44.95016 cents per B ordinary share.
The cash dividend and share re-investment alternative may have tax implications for South African resident as well as non-
resident shareholders. Shareholders are therefore encouraged to consult their professional advisors should they be in any doubt as
to the appropriate action to take.
12 November 2015
Corporate advisor and sponsor
Java Capital
Date: 12/11/2015 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
