SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter Ended 30 June 2016 - STX40

Distribution Finalisation Announcement – Quarter Ended 30 June 2016 - STX40

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX 40 PORTFOLIO
JSE code: STX40
ISIN code: ZAE000027108
("Satrix 40")

A portfolio in the Satrix Collective Investment Scheme, registered as such
in terms of the Collective Investment Schemes Control Act, 45 of 2002

DISTRIBUTION FINALISATION ANNOUNCEMENT – QUARTER ENDED 30 JUNE 2016

The manager and trustees of the Satrix Collective Investment Scheme (being
Satrix Managers (RF) (Pty) Limited and Standard Chartered Bank),
respectively, have declared a distribution to holders of Satrix 40
securities recorded in the register on Friday, 24 June 2016 in respect of
the quarter ended 30 June 2016 as follows:

An aggregate amount of 36.08 cents (R0.3608) per Satrix 40 security
constituted as follows:

     Net Local dividend per security (1)                                     21.74558
     Dividend withholding tax on local dividend (15%)                         3.83745
     Net Foreign dividend per security (2)                                    5.33729
     Dividend withholding tax on foreign dividend (15%)                       0.94188
     Foreign dividend (0% SA tax) (3)                                         1.02011
     REIT dividend (4)                                                        3.17015
     Interest (positive cash balances) (a)                                    0.02754
     TOTAL DISTRIBUTION                                                      36.08000


 a   No withholding tax on interest is applicable as interest
     has solely been earned from a South African Bank.

 1   NET LOCAL DIVIDEND


     Gross dividend (cents per security)                                     25.58303
     Dividend withholding tax (15% on taxable dividend)                     - 3.83745
     Net dividend per security                                               21.74558

 2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)

     Gross dividend (cents per security)                                      6.27917
     Dividend withholding tax (15% on taxable dividend)                     - 0.94188
     Net dividend per security                                                5.33729

 3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

     Gross dividend                                                           1.46140
     Foreign Dividends withholding tax (20%)                                - 0.29228
                                                                              1.16912
     Less portfolio costs                                                   - 0.14901
     Distributable dividend                                                   1.02011
     SA Dividend withholding tax
     Gross dividend                                                           1.46140
     Less portfolio costs                                                   - 0.14901
                                                                              1.31239


     SA DWT                                                                   0.19686


     SA tax 0.19686 cents (15%) will not be deducted as foreign dividend
     withholding tax has already been deducted (SECTION 64N).


 4   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

     Gross REIT dividend                                                      3.17015
     Dividend withholding tax (15% applicable to foreign
     holders                                                                - 0.47552
     Net REIT dividend                                                        2.69463

     No dividend tax is applicable for SA resident securities holders on
     the REIT dividend. Dividend tax of 15% is applicable for non-resident
     shareholders on the REIT dividend.

The dividend tax deducted will be paid as follows:

1.    To the South African Revenue Service in respect of holders that are
      not exempt from dividends tax;
2.    Holders that are exempt from dividends tax or holders qualifying for
      a reduced rate per Double Tax Agreement (“DTA”) will receive the
      appropriate dividend from their intermediary provided they have
      completed and lodged the relevant exemption or reduced rate
      prescribed application form timeously with their service provider.
      The responsibility to make such submissions is that of the security
      holder and failure to do so may result in dividends tax being
      deducted in full.

The payment will be made by the relevant intermediary, being the Central
Securities Depository Participant (“CSDP”) or Broker nominee company which
is the final regulated intermediary in terms of the Income Tax Act.

Payment will be effected on 22 July 2016 to all holders of Satrix 40
securities recorded in the register on Friday, 24 June 2016.

The reason for a 2 week waiting period, from the date of this announcement
for payments to be processed, is to accommodate market participants in the
switch over from a T+5 to a T+3 settlement cycle.


8 July 2016

Sponsor:
Vunani Corporate Finance

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