DIPULA INCOME FUND LIMITED - Results of election to reinvest cash dividend in return for shares

Results of election to reinvest cash dividend in return for shares

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 company”)


RESULTS OF ELECTION TO REINVEST CASH DIVIDEND IN RETURN FOR SHARES


Shareholders are referred to recent announcements relating to the election being offered to re-invest the cash dividend for 
the year ended 31 August 2017 of 50.64892 cents per A ordinary share and 53.65841 cents per B ordinary share (the “cash dividend”) 
in return for either A or B ordinary shares, as applicable (the “re-investment option”), the latest of which was released on SENS on
28 November 2017.

The company is pleased to announce that a total of 706 202 new A ordinary shares and 706 182 new B ordinary shares will be issued
pursuant to the re-investment option, resulting in the retention (based on the issue price of R9.82357 per new A ordinary share and
R9.86268 per new B ordinary share) of R13 902 271.87 in new equity for Dipula.

Shareholders holding 44.97% of the total issued A ordinary shares and shareholders holding 5.94% of the total issued B ordinary
shares elected to participate in the re-investment option. As required in terms of clause 7.4 of the company’s memorandum of
incorporation, and in order to ensure that the total number of A ordinary shares in issue following the implementation of the re-
investment option does not exceed the total number of B ordinary shares in issue, Dipula has reduced the number of new A ordinary
shares to be issued to electing A ordinary shareholders, on a pro rata basis. A ordinary shareholders will receive the balance of 
their dividend (net of withholding tax) in cash.

The total number of A ordinary shares and B ordinary shares in issue post the re-investment option will be 219 197 046 and
219 197 136 shares respectively.

The CSDP or broker accounts of those shareholders who elected the re-investment option will be credited with new ordinary shares
on Wednesday, 13 December 2017. The cash dividend will be credited to shareholders’ accounts held at their CSDP or broker on
Monday, 11 December 2017.

11 December 2017


Corporate advisor and sponsor
Java Capital

Date: 11/12/2017 03:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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