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 The Sharenet Daily 
Tuesday, 14 October 2014 - 20:00
Top News
SA Business
Company News
Company Results
World Markets (Spot Prices)
JSE Today
JSE Trading Statistics
Major Moves
Index Summary
Latest Consensus Changes / Results Expected
Recent Dividends / Ex Div
Upcoming AGMs
Stock Exchange News Service (SENS)

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Seed weekly - Retirement Reform

With the end of the year looming we should all be starting to plan for the year 2015; a very highly anticipated event is the implementation of the much publicised Retirement Reform. The date Treasury has set for implementation of many of the new regulations is 1 March 2015.

There has been much speculation among the general public regarding the new regulations that was extensively covered in the press. Although we don’t have a final draft on all the proposed changes, Treasury has been providing regular updates on some of the areas that they have finalised. Not all of these topics were always covered in the press and many members of the public are not entirely familiar with how these changes will impact them.

There have also been some instances where members’ have cashed in their retirement funds as they fear that the Government will nationalise their pension/provident funds, there is absolutely no substance to these rumours and should be disregarded altogether.

The retirement reforms that we will undergo in a few months are Government’s response to, among other things, South Africans’ low rate of saving. The new regulation attempts to encourage members to preserve their retirement benefits and also to make retirement products easier to understand. There are many differences between the pre- and post-retirement treatment of benefits from Pension & Provident funds and Retirement Annuities, the proposed reforms go some way to simplifying these vehicles.

One of the most important changes is the amalgamation of contributions to all 3 different retirement vehicles. From 1 March 2015 a person can contribute 27.5% of their annual taxable income, capped at R 350 000 pa, to either a Pension fund, Provident fund, Retirement Annuity or a combination of the 3. This eases the planning surrounding your annual tax deductible contributions to retirement vehicles and also makes it more ‘fair’ to individuals who do not have access to Pension and Provident funds.

There have been some misconceptions formed about the treatment of Provident Fund benefits after retirement. The new regulations state that only benefits accumulated after 1 March 2015 in Provident funds will be treated the same as benefits from Pension funds and Retirement Annuities, i.e. up to one third may be taken in cash while the balance needs to be transferred to a Living Annuity. Members of Provident funds will still be able to take the full benefit accumulated by 1 March 2015 in cash, and contributions made (with benefits accumulated) by members 55 years of age or older on 1 March 2015 will not be affected by the new regulations. Another important note is that for the members younger than 55 Treasury decided to include a ‘de minimis rule’ stating that if you contribute less than R 150 000 after 1 March 2015 to the day you retire the benefits will still be available fully in cash on retirement date.

The above is a brief description of some of the changes to be implemented. Many changes haven’t been covered in this piece or finalised by Treasury. Our team of dedicated investment consultants is available to guide you through the process of aligning your investment portfolio in order to be prepared for the changes on the way.

Kind regards,

Stefan Keeve

021 914 4966

Tue, 14 Oct 2014
Top News
South Africa's rand struggled against the dollar on Tuesday as investors fretted about weak global growth prospects, with worries about the domestic budget deficit likely to add pressure in coming days.  Full story

Johannesburg stocks rose for the second straight session on Tuesday, adding 0.76 percent as resurgent iron ore prices lifted long-suffering producers such as Assore and Kumba Iron Ore.  Full story
Hundreds of Hong Kong police used sledgehammers and chainsaws on Tuesday to tear down barricades erected by pro-democracy protesters near government offices and the financial centre, reopening a major road for the first time in two weeks.  Full story
A magnitude 7.3 earthquake struck late on Monday off the coast of El Salvador and Nicaragua and was felt across Central America, killing at least one person, but there were no immediate reports of major damage.  Full story
Iran does not expect a breakthrough in high-level nuclear talks with the United States and the European Union this week but hopes they will help pave the way for a final deal, its foreign minister said on Tuesday.  Full story
Lingering anxiety over world economic growth pushed investors into safe-haven U.S. and German debt on Tuesday and oil prices tumbled, but Wall Street. . .  Full story
Gold fell on Tuesday as sharply lower crude oil prices and a dollar rebound prompted the bullion market to take a breather following. . .  Full story
Deepening concern over the health of the global economy dragged shares in Europe and Japan lower on Tuesday, while the dollar rebounded from. . .  Full story
Hong Kong shares ended slightly lower on Tuesday, erasing early gains as worries about cooling global growth continued to weigh on equity markets.. . .  Full story

China shares posted a third session of losses on Tuesday, erasing earlier gains in the day as investors took profits amid continuing weakness. . .  Full story
Japan's Nikkei share average tumbled 2.4 percent to a fresh two-month closing low on Tuesday on fears global economic weakness will weigh on. . .  Full story
Australian shares rose 1 percent on Tuesday, underpinned by a recovery in the resources sector as iron ore, copper and other base metals. . .  Full story
Stocks on Wall Street tumbled in late selling on Monday as the technical picture soured for the S&P 500, while the U.S. dollar. . .  Full story
SA Business
For decades, production in South Africa's platinum mines has rested on the muscular shoulders of men risking life and limb to drill into the rock face with jackhammers.. . .  Full story

South Africa's mines minister Ngoako Ramatlhodi said he was considering declaring certain minerals such as coal and iron ore as "strategic" for the country.. . .  Full story
African markets are gradually opening to Islamic finance, buoyed by governments' debut sales of sovereign sukuk (Islamic bonds) and legislative efforts to make the sector more attractive for companies across the region.. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0047686.85318.510.67%
JSE Top 4017:0042500.95319.800.76%
JSE Gold17:001185.5211.931.02%
JSE Financial17:0036360.95233.450.65%
JSE Industrial17:0063976.55250.770.39%
JSE Indust 2517:0056381.64250.680.45%
JSE Resource17:0050226.10673.101.36%
DJ Futures19:3214258.25-1973.75-12.16%
DJ Ind19:5816390.8169.740.43%
SP 50019:581887.6412.900.69%
FTSE 10017:296399.2533.010.52%
All Ords07:355204.0050.900.99%
NZSE 5006:485145.89-24.16-0.47%
NameTimeRPMove% Move
Gold $19:591233.25-3.18-0.26%
Gold R19:5913620.86-16.51-0.12%
Gold R/kg19:5843795621230.49%
Silver $19:5917.4100-.0840-0.48%
Platinum $19:591268.108.100.64%
Palladium $19:59791.808.301.06%
Brent Crude19:5886.62-3.59-3.98%
Rand / Dollar19:5911.04460.01470.13%
Rand / Pound19:5517.5461-0.1570-0.89%
Rand / Euro19:5513.9771-0.0798-0.57%
Rand / NZD19:598.6747-0.0260-0.30%
Rand / AUD19:559.6412-0.0281-0.29%
Yen / Dollar19:59107.05900.07200.07%
Euro / Dollar19:590.79020.00530.68%
Dollar / Euro19:591.2656-0.0086-0.67%
Pound / Dollar19:550.62800.00610.98%

Click here for the Sharenet Spot Price page
The JSE Today

Trading Statistics
* Includes all listed instruments on the JSE
Major Moves Up
SharenameSaleMove% MoveVolume
1 KIBO  2002011.11.%5000
2 CONDUIT  165127.84.%5000
3 SANTOVA  224167.69.%967588
4 CENRAND  275155.77.%2700
5 ASSORE  2500913265.60.%154338
6 KUMBAIO  2890013945.07.%1125880
7 REX-TRUE  1255554.58.%592
8 HARMONY  2305954.30.%2474532
9 FINBOND  286114.00.%31407
10 PPC  29171073.81.%2755763
11 NUWORLD  2699993.81.%150
12 ANGLOPLAT  3780013003.56.%512485
13 ARM   147124623.24.%289015
14 HUDACO  100003033.12.%17872
15 ASPEN  3457110413.10.%1162537
16 EXXARO  131003883.05.%487599
17 GFIELDS  44521313.03.%3031416
18 DELTA  390102.63.%34204
19 ANGLO  250496382.61.%2843893
20 LONMIN  3157732.37.%1623344

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Major Moves Down
SharenameSaleMove% MoveVolume
1 QUANTUMF  302-53-14.93.%3287736
2 DAWN  680-70-9.33.%135318
3 TRNSHEX  324-24-6.90.%440
4 TELKOM  5222-356-6.38.%2022424
5 POYNTING  245-14-5.41.%75559
6 VALUE  421-24-5.39.%28342
7 CROOKES  7350-350-4.55.%160
8 ELLIES   105-5-4.55.%1908727
9 ASTRAPAK  621-29-4.46.%5774
10 HOSP-B  350-15-4.11.%112250
11 CMH  1150-49-4.09.%730
12 CIL  3180-126-3.81.%1162706
13 CAT  1450-55-3.65.%111577
14 EHSV  463-17-3.54.%8328
15 BASREAD  550-20-3.51.%4191
16 BEE-SASOL  43000-1550-3.48.%958
17 CLIENTELE  1600-50-3.03.%1470
18 AFRO-C  490-15-2.97.%111622
19 MMG  1650-50-2.94.%3600
20 ROLFES  340-10-2.86.%11500

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New Highs
SharenameSaleHighMove% MoveVolume
1 REX-TRUE  12551255554.58.%592
2 RESILIENT  774078231632.15.%959534
3 DIGICOR  27027510.37.%334927
4 ARROW-A  803849-1-0.12.%418314

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New Lows
SharenameSaleLowMove% MoveVolume
1 QUANTUMF  302300-53-14.93.%3287736
2 ELLIES   10599-5-4.55.%1908727
3 CAT  14501450-55-3.65.%111577
4 SEPHAKU  550515-10-1.79.%26310
5 ALTRON  21492149-10-0.46.%1290
6 RICHEMONT  88188707-31-0.35.%6593359
7 ALEXANDER  78775120.25.%5994305
8 HARMONY  23052175954.30.%2474532

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Index Summary
Index NameRPMove% Move
Top 4042,500.95319.800.76%
Mid Cap63,614.54195.180.31%
Small Cap54,462.12-37.87-0.07%
Resource 2050,226.10673.101.36%
Industrial 2556,381.64250.680.45%
Financial 1513,856.98116.790.85%
Financial & Ind. 3059,906.26323.060.54%
All Share47,686.85318.510.67%
Oil & Gas 42,468.56-96.87-0.23%
Mining 29,246.98503.171.75%
Gold Mining1,185.5211.931.02%
Platinum Mining37.41.461.24%
GENERAL MINING8,675.72158.781.86%
Oil & Gas Producers 22,834.56-52.08-0.23%
Basic Materials 26,103.53424.701.65%
Chemicals 23,532.48-119.64-0.51%
Forestry & Paper 30,507.45199.970.66%
Industrial Metals 16,971.88676.874.15%
Industrials 44,537.91113.770.26%
General Industrials 145.89-.12-0.08%
Consumer Goods 57,197.96-1.51-0.00%
Automobiles & Parts 6,736.76-79.26-1.16%
Household Goods364.9630.72%
Health Care 91,140.63645.940.71%
Beverages 198.12.490.25%
Index NameRPMove% Move
Food Producers 80,321.68-129.16-0.16%
Personal Goods 880.71-3.10-0.35%
Consumer Services 11,594.02118.901.04%
General Retailers 64,336.69725.431.14%
Travel & Leisure 5,809.01-2.01-0.03%
Media 261.913.041.17%
Support Services 2,729.93-15.75-0.57%
Telecommunications 11,247.5238.530.34%
Financials 36,360.95233.450.65%
Banks 63,206.04755.741.21%
Non-life Insurance 50,921.91222.040.44%
Life Insurance 33,732.52318.720.95%
General Financial 3,506.23-2.18-0.06%
Technology 45,852.38311.070.68%
SHARIAH TOP40 3,905.01411.06%
FTSE/JSE SHARIAH ALL4,069.90370.91%
COAL MINING16,560.704913.05%
FTSE JSE Fledgling 6,566.32-5-0.07%
FTSE/JSE Alt X 1,288.5800.02%
CAPPED PROPERTY 466.59-0.00%
RESOURCE 27,324.993621.34%
DIVIDEND PLUS214.9721.05%
FTSE/JSE RAFI 409,334.53750.81%
Capped Top 4022,570.201670.75%
Capped All Share24,166.261610.67%
JSE TABACO 7,705.03-26-0.33%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
15/10/2014CMHAugust 2014 (Interim)
15/10/2014CMH PREFAugust 2014 (Interim)
15/10/2014DATATECAugust 2014 (Interim)
16/10/2014CAPEVINHJune 2014 (Final)
16/10/2014EASTPLATSJune 2014 (Interim)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
PSG13/10/1431/10/1410/11/14ZAR 0.5500
DELPROP13/10/1431/10/1410/11/14ZAR 0.4001
EQUITES10/10/1431/10/1410/11/14ZAR 0.2037
FPT09/10/1431/10/1410/11/14ZAR 0.2928
PSG KST08/10/1424/10/1403/11/14ZAR 0.0400
Ex Div**
Share NameDec-DateLDTPay-DateAmount
WBHO01/09/1410/10/1420/10/14ZAR 2.3300
A-V-I08/09/1410/10/1420/10/14ZAR 1.8000
ECSP C07/10/1410/10/1420/10/14ZAR 0.4356
ECSP A07/10/1410/10/1420/10/14ZAR 0.3288
RCL27/08/1410/10/1420/10/14ZAR 0.2000

Upcoming AGMs**
CodeCompany NameDateStatus
VLEValue Group Ltd.14/10/2014Confirmed
TSHTsogo Sun Holdings Ltd.15/10/2014Confirmed
MMGMICROmega Holdings Ltd.16/10/2014Confirmed
WSLWescoal Holdings Ltd.21/10/2014Confirmed

Stock Exchange News Service
14/10/201417:45NUTRITIONAL HOLDINGS LIMITED - Revised Terms of Subscription Agreement Regarding...
14/10/201417:33BEIGE HOLDINGS LIMITED - Update on Publication of Financial Results for the year...
14/10/201416:51SABLE METALS & MINERAL LTD - Changes to the board of directors
14/10/201416:25OLD MUTUAL PLC - Public Opening Position Disclosure/Dealing Disclosure by a Pers...
14/10/201416:20OLD MUTUAL PLC - Public Opening Position Disclosure/Dealing Disclosure by a Pers...
14/10/201416:15CAPITAL & COUNTIES PROPERTIES PLC - Notification of Interim Management Statement
14/10/201416:02HYPROP INVESTMENTS LIMITED - No change statement and notice of annual general me...
14/10/201415:55VILLAGE MAIN REEF LIMITED - Publication of 2014 Integrated Annual Report, No Cha...
14/10/201415:30VALUE GROUP LIMITED - Unaudited Interim Financial Results for the six months end...
14/10/201415:30OLD MUTUAL PLC - Public Opening Position Disclosure/Dealing Disclosure by a Pers...
14/10/201415:30PHUMELELA GAMING & LEISURE LIMITED - Director's Dealings
14/10/201414:55TRENCOR LIMITED - Trencor's Textainer announces date for the third quarter 2014 ...
14/10/201414:44INDWA INVESTMENTS LIMITED - INA447-New Instrument Listing
14/10/201414:34DIGICORE HOLDINGS LIMITED - Disclosure Of Disposals And Acquisition Of Securitie...
14/10/201414:30NET 1 UEPS TECHNOLOGIES INC - Net 1 UEPS Technologies, Inc. to Host Conference C...
14/10/201414:19NEDBANK LIMITED - Nedbank issue of Share Instalments
14/10/201414:05ABSA BANK LIMITED - Interest Rate Resets - ABFN11/12
14/10/201413:48REMGRO LIMITED - Dealings in securities by a director
14/10/201413:46ABSA BANK LIMITED - Interest Rate Reset - ABN48
14/10/201413:01SATRIX COLLECTIVE INVESTMENT SCHEME - Listing of Additional 1 Million Satrix Ind...
14/10/201413:00SATRIX COLLECTIVE INVESTMENT SCHEME - Partial Delisting of Satrix 40 Securities ...
14/10/201410:47JASCO ELECTRONICS HOLDINGS LIMITED - Change to the board of directors
14/10/201410:35AVI LIMITED - Dealings in AVI Shares by an AVI Director and a Director of a Majo...
14/10/201410:00DATATEC LIMITED - Unaudited Interim Results for the six months ended 31 August 2...
14/10/201410:00TORRE INDUSTRIES LIMITED - Transfer to the Main Board
14/10/201409:40SPUR CORPORATION LIMITED - No change statement and notice of AGM
14/10/201409:17NEW GOLD ISSUER LIMITED - Additional Listing of New Gold Palladium Debentures
14/10/201409:04YORK TIMBER HOLDINGS LIMITED - Notice of annual general meeting and no change st...
14/10/201409:02SANTOVA LIMITED - Trading Statement
14/10/201409:01KIBO MINING PLC - Commencement of Definitive Feasibility Study on Imweru Gold Pr...
14/10/201408:00SABMILLER PLC - Trading Update
14/10/201408:00GLENCORE PLC - GLN - Transaction in own shares
14/10/201407:05HARMONY GOLD MINING COMPANY LIMITED - Harmony guides a 6% increase in production
14/10/201407:05DISTRIB. AND WAREHOUSING NETWORK LD - Summary consolidated financial results for...

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