DIPULA INCOME FUND LIMITED - Update in respect of salient dates for conversion of companys linked unit capital to an all-share capital structure

Update in respect of salient dates for conversion of company’s linked unit capital to an all-share capital structure

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)
(“the company”)


UPDATE IN RESPECT OF SALIENT DATES FOR THE CONVERSION OF THE COMPANY’S LINKED UNIT CAPITAL STRUCTURE TO AN ALL-SHARE CAPITAL STRUCTURE


Linked unitholders are referred to the announcement released on SENS on 7 May 2015 wherein the salient dates and times in
respect of:

-      the conversion of the company’s current “A” linked capital structure to an “A” ordinary share structure by way of a
       substitutive share-for-share transaction as contemplated in section 43 of the Income Tax Act 58 of 1962 (the “Income Tax
       Act”), in terms of which Dipula will substitute or exchange 100% of the issued “A” linked units (being 193 012 083 “A”
       linked units) for an equivalent number of issued “A” ordinary shares, to be effected by way of a scheme of arrangement in
       terms of section 114 of the Companies Act, 71 of 2008 (the “Companies Act”);
-      the conversion of the company’s current “B” linked capital structure to a “B” ordinary share structure by way of a
       substitutive share-for-share transaction as contemplated in section 43 of the Income Tax Act, in terms of which Dipula will
       substitute or exchange 100% of the issued “B” linked units (being 193 012 083 “B” linked units) for an equivalent number
       of issued “B” ordinary shares, to be effected by way of a scheme of arrangement in terms of section 114 of the Companies
       Act;
-      the cancellation of all authorised but unissued ordinary shares of the company; and
-      the creation of two new classes of shares, being “A” and “B” ordinary shares, and the adoption of a new Memorandum of
       Incorporation,

(collectively the “transactions”), were announced.

The requisite special resolutions in respect of the transactions have been filed with the Companies and Intellectual Property
Commission (“CIPC”) for registration. However, due to backlogs at the CIPC, registration of the special resolutions has been
delayed and the salient dates for the transactions will therefore need to be revised. The revised salient dates will be announced in
due course, once the special resolutions in respect of the transactions have been registered with the CIPC.


26 June 2015


Sponsor
Java Capital

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