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Election to reinvest cash dividend in return for shares, reinvestment price and confirmation of finalisation
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”)
ELECTION TO REINVEST CASH DIVIDEND IN RETURN FOR ORDINARY SHARES: ANNOUNCEMENT OF DIVIDEND REINVESTMENT PRICE AND CONFIRMATION
OF FINALISATION INFORMATION
Shareholders are referred to the announcement released on SENS on 20 November 2016 in respect of the election being offered to
re-invest the cash dividend for the year ended 31 August 2016 of 48.23707 cents per A ordinary share and 50.71217 cents per B
ordinary share (the “cash dividend”) in return for either A or B ordinary shares, as applicable (the “re-investment option”) (the
“declaration announcement”).
Shareholders are advised that the share re-investment price is R10.04714 (1004.71412 cents) per A ordinary share and R8.94791
(894.79139 cents) per B ordinary share, representing in each case a 0.5% discount to the five-day volume weighted average traded
price (less the cash dividend) of an A or B ordinary share (as applicable) on the JSE as at Monday, 28 November 2016.
The ratio that the cash dividend bears to the share reinvestment price is 0.04801 in respect of A ordinary shares and 0.05667 in
respect of B ordinary shares. Accordingly, shareholders electing to participate in the re-investment option will receive 4.80107
A ordinary shares for every 100 A ordinary shares held on the record date, or 5.66749 B ordinary shares for every 100 B ordinary
shares held on the record date, as the case may be. Where a shareholder’s entitlement to ordinary shares in terms of the re-
investment option gives rise to a fraction of an ordinary share, such fraction will be rounded up to the nearest whole number
where the fraction is greater than or equal to 0.5 and rounded down to the nearest whole number where the fraction is less than
0.5.
Shareholders are reminded that Dipula reserves the right to reduce the number of new A ordinary shares issued to electing A
ordinary shareholders in terms of the share re-investment option, on a pro rata basis, if the issue of A ordinary shareholders’ full
election of new A ordinary shares would result in more A ordinary shares being issued than B ordinary shares. In such
circumstances, A ordinary shareholders will receive the balance of their dividend (net of withholding tax) in cash.
The current issued share capital of Dipula comprises 206 852 463 A ordinary shares and 206 852 463 B ordinary shares.
Assuming maximum participation in the re-investment option, the issued share capital of Dipula will comprise 216 783 450 and
218 574 792 A and B ordinary shares, respectively.
The salient dates and all other information relating to the cash dividend and share re-investment alternative (including the tax
implications), as disclosed in the declaration announcement, remain unchanged. Shareholders are reminded that the last day to
trade in order to receive the cash dividend or participate in the re-investment option (“LDT”) is Tuesday, 6 December 2016 and
that the last day to elect to participate in the re-investment option is Friday, 9 December 2016 (by 12:00 South African time). No
action is required if you wish to receive the cash dividend.
Shareholders electing to participate in the share re-investment alternative are alerted to the fact that the new ordinary shares will
be listed on LDT + 3 and can therefore only be traded on LDT + 3. This is due to the fact that settlement of the new ordinary
shares will be two days after the record date, which differs from the conventional one day after record date settlement process.
29 November 2016
Corporate advisor and sponsor
Java Capital
Date: 29/11/2016 01:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
