DIPULA INCOME FUND LIMITED - Dealings in securities by directors of the company

Dealings in securities by directors 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 DIRECTORS OF THE COMPANY


Shareholders are advised of the following information relating to the grant and acceptance of a conditional award
of Dipula B ordinary shares by directors of Dipula in terms of the rules of the company's approved Conditional
Share Plan ("CSP") on the basis set out below. The vesting of the shares is subject to growth in distribution 
per share relative to CPI and peer companies and achieving individual key performance indicators.

Name of director:                                Izak Petersen
Date of acceptance of award:                     23 August 2019
Class of securities:                             B ordinary shares
Number of securities:                            834 161
Award price:                                     R6.25 (30 day VWAP)
Value of transaction:                            R5 213 506.25
Vesting period:                                  3 years from date of acceptance
Nature of transaction:                           Off-market grant and acceptance of conditional awards in terms of
                                                 the CSP
Nature and extent of director's interest:        Direct beneficial
Clearance to deal received:                      Yes


Name of director:                                Ridwaan Asmal
Date of acceptance of award:                     23 August 2019
Class of securities:                             B ordinary shares
Number of securities:                            384 000
Award price:                                     R6.25 (30 day VWAP)
Value of transaction:                            R2 400 000.00
Vesting period:                                  3 years from date of acceptance
Nature of transaction:                           Off-market grant and acceptance of conditional awards in terms of
                                                 the CSP
Nature and extent of director's interest:        Direct beneficial
Clearance to deal received:                      Yes

27 August 2019


Sponsor
Java Capital

Date: 27/08/2019 04:18:00
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.