DIPULA INCOME FUND LIMITED - Changes to the board of directors

Changes to the board of directors

DIPULA INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/013963/06)
JSE share code: DIA      ISIN: ZAE000203378
JSE share code: DIB      ISIN: ZAE000203394
(Approved as a REIT by the JSE)
(“Dipula” or “the Fund”)


CHANGE TO THE BOARD OF DIRECTORS


Shareholders are advised that Ridwaan Asmal has been appointed as Financial Director to the board of directors
of Dipula (“the Board”) with effect from 1 September 2015.

Ridwaan Asmal holds a B Comm (Accounting) and has more than 20 years’ experience in the listed property
fund environment with specific skills in financial reporting and management, acquisitions and disposals as well
as treasury and in hotel property development. Ridwaan’s career started at Anglo American Property Services
(“Ampros”) in 1994 where he spent 5 years in the financial accounts division. Thereafter, he joined Broll
Property Group heading the Financial Management and lease administration department for the Gauteng
Region. Ridwaan subsequently joined CORONIB Asset Management where he spent time in both financial and
asset management positions during his 5 year tenure. In 2006, he was appointed as the Financial Director of
Hospitality Property Fund Limited (“HPF”) and was part of the team responsible for listing the Fund and served
as a director at HPF for over 9 years. At HPF, Ridwaan was instrumental in setting up the Finance Department,
managing relationships with debt service providers, rating agencies and dealing with investors.

Dipula welcomes Ridwaan to the Board and is confident that his experience in the industry will add significant
value to the Fund.

21 August 2015


Sponsor
Java Capital
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