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

Release Date: 12/12/2016 12:33
Code(s): DIA DIB     PDF:  
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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 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 latest of which was released on SENS on
29 November 2016.

The company is pleased to announce that a total of 3 132 910 new A ordinary shares and 3 132 910 new B ordinary shares will be
issued pursuant to the re-investment option, resulting in the retention (based on the issue price of R10.04714 per new A ordinary
share and R8.94791 per new B ordinary share) of R59 509 781 in new equity for Dipula.

Shareholders holding 39.72% of the total issued A ordinary shares elected to participate in the re-investment option, as opposed to
shareholders holding 26.72% of the total issued B ordinary shares, such that the issue of A ordinary shareholders’ full election of
shares would have resulted in more A ordinary shares being issued than B ordinary shares, in contravention of clause 7.4 of the
company’s memorandum of incorporation. Dipula has accordingly reduced the number of new A ordinary shares to be issued to
electing A ordinary shareholders in terms of the re-investment option, 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 both A ordinary shares and B ordinary shares in issue post the re-investment option will be 209 985 373.

The CSDP or broker accounts of those shareholders who elected the re-investment option will be credited with new ordinary
shares on Wednesday, 14 December 2016. The cash dividend will be credited to shareholders’ accounts held at their CSDP or
broker on Monday, 12 December 2016.

12 December 2016


Corporate advisor and sponsor
Java Capital

Date: 12/12/2016 12:33:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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