| Tue 28 Nov 2017, 10:00 | | DIPULA INCOME FUND LIMITED - Election to reinvest cash dividend in return for ordinary shares: finalisation information |
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DIA DIB 201711280024A
Election to reinvest cash dividend in return for ordinary shares: finalisation information
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”)
ELECTION TO REINVEST CASH DIVIDEND IN RETURN FOR ORDINARY SHARES: ANNOUNCEMENT OF DIVIDEND REINVESTMENT PRICE
AND CONFIRMATION OF FINALISATION INFORMATION
Shareholders are referred to the announcement released on SENS on 21 November 2017 in respect of the election
being offered to re-invest the cash dividend for the year ended 31 August 2017 of 50.64892 cents per A ordinary
share and 53.65841 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 R9.82357 (982.35673 cents) per A ordinary share
and R9.86268 (986.26842 cents) per B ordinary share, representing in each case a 1.0% 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, 27 November 2017.
The ratio that the cash dividend bears to the share reinvestment price is 0.05156 in respect of A ordinary shares
and 0.05441 in respect of B ordinary shares. Accordingly, shareholders electing to participate in the re-investment
option will receive 5.15586 A ordinary shares for every 100 A ordinary shares held on the record date, or 5.44055
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 218 490 844 A ordinary shares and 218 490 954 B ordinary shares. Assuming
maximum participation in the re-investment option, the issued share capital of Dipula will comprise 229 755 922 and 230 378 059
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, 5 December 2017 and that the
last day to elect to participate in the re-investment option is Friday, 8 December 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.
28 November 2017
Corporate advisor and sponsor
Java Capital
Date: 28/11/2017 10:00:00 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.
