Sectors Shares

Dipula Income Fund Limited - Finalisation Announcement In Respect Of The Interim Dividend For The Six Months Ended 28 February 2017

Release Date: 30/05/2017 11:00
Code(s): DIA DIB
 
Wrap Text
Finalisation announcement in respect of the interim dividend for the six months ended 28 February 2017

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”)


FINALISATION ANNOUNCEMENT IN RESPECT OF THE INTERIM DIVIDEND FOR THE SIX MONTHS ENDED 28 FEBRUARY 2017


Shareholders are referred to the announcement released on SENS on 17 May 2017 in respect of the election 
being offered to re-invest the cash dividend for the six months ended 28 February 2017 of 50.64892 cents 
per A ordinary share and 41.83993 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 R9.64617 (964.61656 cents) per A ordinary 
share and R11.04853(1 104.85254 cents) per B ordinary share, representing in each case a 2.5% 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, 29 May 2017.

The ratio that the cash dividend bears to the share reinvestment price is 0.05251 in respect of A ordinary 
shares and 0.03787 in respect of B ordinary shares. Accordingly, shareholders electing to participate in the 
re-investment option will receive 5.25068 A ordinary shares for every 100 A ordinary shares held on the record 
date, or 3.78692 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 down to the nearest whole number with any residual 
cash balance being retained by the shareholders.

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 216 572 268 A ordinary shares and 216 572 268 B ordinary 
shares. Assuming maximum participation in the re-investment option, the issued share capital of Dipula will 
comprise 224 773 859 and 224 773 859 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 June 2017 and that the last day to elect to participate in the re-investment option 
is Friday, 9 June 2017 (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.

30 May 2017


Corporate advisor and sponsor
Java Capital

Date: 30/05/2017 11:00:00 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.

Email this JSE Sens Item to a Friend.

Share This Story