DIA/DIB - Dipula Income Fund Limited - Submission of a resolution of Dipula

DIA/DIB - Dipula Income Fund Limited - Submission of a resolution of Dipula     
Linked Unitholders in terms of Section 60 of The Companies ACT, 2008 ("ACT")    
DIPULA INCOME FUND LIMITED                                                      
(formerly Dipula Property Fund (Pty) Ltd)                                       
Registration number 2005/013963/06                                              
JSE code for A-linked units: DIA                                                
ISIN for A-linked units: ZAE000158317                                           
JSE code for B-linked units: DIB                                                
ISIN for B-linked units: ZAE000158325                                           
("Dipula" or the "Company")                                                     
SUBMISSION OF A RESOLUTION OF DIPULA LINKED UNITHOLDERS IN TERMS OF SECTION 60  
OF THE COMPANIES ACT, 2008 ("ACT")                                              
On 20 December 2011 it was announced on SENS that the Company had concluded     
agreements for the acquisitions of Bochum and Blouberg Plaza and Nquthu Plaza.  
In order for the Company to partially fund the acquisitions, the board of       
directors of Dipula (the "board" or the "directors") has resolved to undertake a
capital raising by the issue of A- linked units and B-linked units. Unitholders 
are advised that the board has resolved (in terms of section 65(2) of the Act)  
to propose an ordinary resolution granting the directors a specific authority to
place up to 4 000 000 A-linked units and up to 4 000 000 B-linked units in the  
authorised but unissued capital of the Company under the control of the         
directors in order to implement the capital raising for consideration by written
consent of unitholders in terms of section 60 of the Act.                       
In terms of section 60 of the Act, a resolution that could be voted on at a     
unitholders meeting may instead be submitted for consideration to the           
unitholders entitled to exercise voting rights in relation to the resolution,   
and be voted on in writing by unitholders entitled to exercise voting rights in 
relation to the resolution, within 20 business days after the resolution was    
submitted to them.                                                              
Section 60(2) of the Act further provides that a resolution contemplated in     
section 60(1) of the Act will have been adopted if it is supported by persons   
entitled to exercise sufficient voting rights for it to have been adopted as an 
ordinary or special resolution, as the case may be, at a properly constituted   
unitholders meeting, and if adopted such resolution will have the same effect as
if it had been approved by voting at a meeting.                                 
A letter together with the proposed ordinary resolution and a form of written   
consent was distributed to unitholders of Dipula today setting out the detailed 
action required to be taken by unitholders in respect of the proposed ordinary  
resolution. A copy of the letter, proposed ordinary resolution and form of      
written consent will be available to be viewed on Dipula`s website              
www.dipula.co.za from Monday, 23 April 2012.                                    
The directors have resolved that the record date for determining which          
unitholders are entitled to vote on the proposed ordinary resolution in terms of
the written consent shall be 20 April 2012.                                     
20 April 2012                                                                   
Corporate advisor, legal advisor and sponsor                                    
Java Capital                                                                    
Date: 20/04/2012 16:28:20 Supplied by www.sharenet.co.za                     
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