DIPULA INCOME FUND LIMITED - Trading statement

Trading statement

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”)


TRADING STATEMENT


As advised in the SENS announcement published on 30 October 2020, Dipula will publish its reviewed provisional
condensed consolidated financial results for the year ended 31 August 2020 (“FY2020”) on SENS on Wednesday,
18 November 2020. In this regard, shareholders are advised that Dipula expects to report the following distributable
earnings per share for FY2020:

 Cents per share                    6 months          6 months           FY2020       Year ended          % change
                                       ended             ended                         31 August
                                 29 February         31 August                              2019
                                        2020              2020
 A share                            57.35694          57.13322        114.49016        110.24989              3.8%
 B share                            38.61409          15.84576         54.45985         82.70673           (34.2%)
 Combined A and B share             95.97103          72.97898        168.95001        192.95662           (12.4%)

Shareholders are referred to the market notice issued on 26 June 2020 by the Financial Services Conduct Authority
(“FSCA”), wherein the FSCA granted REITs that have financial year ends of 29 February 2020 to 30 September 2020
an extension of two months within which they are required to comply with the requirements of paragraph 13.47 of the
JSE Listings Requirements to distribute at least 75% of the REIT’s total distributable profits to shareholders.
Shareholders are advised that Dipula will be relying on this extension granted by the FSCA and accordingly, the board
of directors of Dipula (the “Board”) has deferred its decision regarding the declaration of a dividend in respect of
FY2020 until no later than February 2021.

Dipula uses dividend per share as its relevant measurement for trading statement purposes. Accordingly, once Dipula
obtains a reasonable degree of certainty with regard to the FY2020 dividend, a further trading statement will be
published.

The financial information above has not been reviewed or reported on by the Company’s auditors.

16 November 2020


Sponsor
Java Capital

Date: 16-11-2020 04:55:00
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