DIPULA INCOME FUND LIMITED - Acquisition of a portfolio of retail letting enterprises and properties

Acquisition of a portfolio of retail letting enterprises and properties

DIPULA INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/013963/06)
JSE share code: DIA   ISIN: ZAE000158317
JSE share code: DIB   ISIN: ZAE000158325
(Approved as a REIT by the JSE)
(“Dipula” or the “company”)


ACQUISITION OF A PORTFOLIO OF RETAIL LETTING ENTERPRISES AND PROPERTIES


Linked unitholders are advised that Mergence Africa Property Investment Trust (the “purchaser” or
“Mergence”) has entered into the following separate transactions. Dipula is the sole capital and income
beneficiary of Mergence. The acquisitions set out below are a not-categorisable in terms of the JSE Listings
Requirements. This announcement is for information purposes only.

1.   The Limpopo acquisition
     1.1.      Mergence has, subject to certain conditions precedent, concluded an agreement for the
               acquisition of the rental enterprises conducted in respect of and including Portion A, B, C, D
               and E of Erf 5657, known as Corporate Park II (“Corporate Park II”), situated in Limpopo
               Province, as a going concern and income producing entity for a purchase consideration of
               R143 million (the “Limpopo acquisition”).
     1.2.      The effective date of the Limpopo acquisition is 24 February 2015.
     1.3.      The total gross lettable area (“GLA”) area for Corporate Park II is approximately 28 000m2.
     1.4.      The acquisition is in line Dipula’s strategy of acquiring portfolio enhancing assets.

2.   The Umzimkhulu acquisition
     2.1.      Mergence has, subject to certain conditions precedent, concluded an agreement for the
               acquisition of the leasehold rights held by the seller and the property letting enterprise in
               respect of the Erf 155, a portion of Erf 152 Umzimkhulu, known as the Umzimkhulu Shopping
               Centre (the “Umzimkhulu Shopping Centre”) for a purchase consideration of R193 million
               (the “Umzimkhulu acquisition”).
     2.2.      The cession of all rights and assignment of right, title and interest in and to the notarial lease
               will take effect from the date of registration of the leasehold rights into the name of the
               purchaser.
     2.3.      The total GLA for the Unzimkhulu Shopping Centre is 15 740m2.
     2.4.      The acquisition is in line Dipula’s strategy of acquiring portfolio enhancing retail assets in
               under serviced markets.


2 March 2015


Sponsor
Java Capital
Java Capital

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