Johannesburg, Dipula Income Fund Limited has disclosed a significant transaction involving an associate of a director of the company, according to a recent announcement made to the Johannesburg Stock Exchange (JSE). The transaction involves the vesting of conditional awards of Dipula ordinary shares, which were initially awarded to directors on June 1, 2021, under the company’s approved Conditional Share Plan (CSP).
On February 29, 2024, Dipula settled these conditional awards with a total of 2,801,056 shares. These shares were purchased on-market at a price of R4.40 per share, amounting to a total value of R12,324,646.40. The shares were acquired by QVEST Consulting Proprietary Limited (“QVEST”), an associate of Izak Petersen, who is both a director of Dipula Income Fund Limited and the sole shareholder of QVEST. The transaction was conducted off-market as part of the CSP’s vesting process.
The company has confirmed that the transaction was conducted with full clearance to trade, ensuring compliance with regulatory standards. The nature of the transaction is categorized as the off-market vesting of shares in terms of the CSP, with Izak Petersen holding an indirect beneficial interest in the shares through QVEST.
This announcement follows the company’s policies on transparency and regulatory compliance, providing shareholders and the market with relevant information about significant transactions involving directors and their associates.