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

Release Date: 12/06/2017 11:50
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 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 latest 
of which was released on SENS on 30 May 2017.

The company is pleased to announce that a total of 1 918 576 new A ordinary shares and 1 918 686 new B ordinary shares will be
issued pursuant to the re-investment option, resulting in the retention (based on the issue price of R9.64617 per new A ordinary
share and R11.04853 per new B ordinary share) of R 39 705 570.09 in new equity for Dipula.

Shareholders holding 62.15 % of the total issued A ordinary shares and shareholders holding 23.40% of the total issued B ordinary
shares elected to participate in the re-investment option. As required in terms of clause 7.4 of the company’s memorandum of
incorporation, and in order to ensure that the total number of A ordinary shares to be issued pursuant to the re-investment option
does not exceed the total number of B ordinary shares to be issued, Dipula has reduced the number of new A ordinary shares to be
issued to electing A ordinary shareholders, 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 A ordinary shares and B ordinary shares in issue post the re-investment option will be 218 490 844 and
218 490 954 respectively.

The CSDP or broker accounts of those shareholders who elected the re-investment option will be credited with new ordinary
shares on Wednesday, 14 June 2017. The cash dividend will be credited to shareholders’ accounts held at their CSDP or broker
on Monday, 12 June 2017.

12 June 2017


Corporate advisor and sponsor
Java Capital

Date: 12/06/2017 11:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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