SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter Ended 30 September 2016 - STXSWX

Distribution Finalisation Announcement – Quarter Ended 30 September 2016 - STXSWX

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX SWIX TOP 40 PORTFOLIO
JSE code: STXSWX
ISIN code: ZAE000078580
("Satrix Swix Top 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 SEPTEMBER 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 Swix Top 40
securities recorded in the register on Friday, 30 September 2016 in respect
of the quarter ended 30 September 2016 as follows:

An aggregate amount of 7.47 cents (R0.0747) per Satrix Swix Top 40 security
constituted as follows:

     Net Local dividend per security (1)                           4.04443
     Dividend withholding tax on local dividend (15%)              0.71372
     Net Foreign dividend per security (2)                         1.38718
     Dividend withholding tax on foreign dividend (15%)            0.24480
     Foreign dividend (0% SA tax) (3)                              0.30467
     REIT dividend (4)                                             0.77520
     TOTAL DISTRIBUTION                                            7.47000


 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)                           4.75815
     Dividend withholding tax (15% on taxable dividend)          - 0.71372
     Net dividend per security                                     4.04443

 2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)

     Gross dividend (cents per security)                           1.63198
     Dividend withholding tax (15% on taxable dividend)          - 0.24480
     Net dividend per security                                     1.38718

 3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

     Gross dividend                                                0.52241
     Foreign Dividends withholding tax                           - 0.18284
                                                                   0.33957
     Less portfolio costs                                        - 0.03490
     Distributable dividend                                        0.30467
     SA Dividend withholding tax
     Gross dividend                                                 0.52241
     Less portfolio costs                                         - 0.03490
                                                                    0.48751


     SA DWT                                                         0.07313


     SA tax 0.07313 cents (15%) will not be deducted as foreign dividend
     withholding tax has already been deducted (SECTION 64N).

 4   REIT DIVIDEND


     Gross REIT dividend                                            0.77520
     Dividend withholding tax (15% - applicable to foreign
     holders                                                      - 0.11628
     Net REIT dividend                                              0.65892

     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 12 October 2016 to all holders of Satrix Swix
Top 40 securities recorded in the register on Friday, 30 September 2016.

7 October 2016

Sponsor:
Vunani Corporate Finance

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