Dealings in securities by associates of a director of the company
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”)
DEALINGS IN SECURITIES BY ASSOCIATES OF A DIRECTOR OF THE COMPANY
On 30 May 2018, the Dipula BEE Trust (“the Trust”) transferred 5 000 A ordinary shares and 58 017 520 B ordinary
shares to a wholly-owned subsidiary of the Trust named Dipula BEE Trust Holdings Proprietary Limited, at a price of
R10.13 per A ordinary share and R9.99 per B ordinary share (for a total value of R579 645 674.80). The Trust is an
associate of Izak Petersen, who is a trustee of the Trust and who has a 38% beneficial interest in Mergence Africa
Properties Proprietary Limited, a beneficiary of the Trust. The transaction was conducted off-market and resulted in
no change to Izak’s indirect beneficial interest in Dipula shares.
On 31 May 2018, Business Venture Investments No 2061 Proprietary Limited (the “Co”) acquired a 33.33% interest
in the Trust (corresponding to 1 667 A ordinary shares and 19 339 173 B ordinary shares) for a nominal value, noting
that the acquisition was ex-distribution and after gearing in the Trust. BVI is an associate of Izak, in that he is a
beneficiary of The Desmond Trust, which will hold an 85% interest in the Co. The transaction was conducted off-
5 June 2018
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