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

Distribution Finalisation Announcement – Quarter Ended 30 June 2016 - STXFIN

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX FINI PORTFOLIO
JSE code: STXFIN
ISIN Code: ZAE000036356
("Satrix Fini")

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 Fini
securities recorded in the register Friday, 24 June 2016 in respect of the
quarter ended 30 June 2016 as follows:

An aggregate amount of 35.11 cents (R0.3511) per Satrix Fini security
constituted as follows:


      Net Local dividend per security (1)                         18.31189
      Dividend withholding tax on local dividend (15%)             3.23151
      Net Foreign dividend per security (2)                        7.03026
      Dividend withholding tax on foreign dividend (15%)           1.24063
      Foreign dividend (0% SA tax) (3)                             1.93873
      REIT Dividend (4)                                            3.24469
      Interest (positive cash balances) (a)                        0.11229
      TOTAL DISTRIBUTION                                          35.11000


  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)                         21.54340
      Dividend withholding tax (15% on taxable dividend)         - 3.23151
      Net dividend per security                                   18.31189

  2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)

      Gross dividend (cents per security)                          8.27089
      Dividend withholding tax (15% on taxable dividend)         - 1.24063
      Net dividend per security                                    7.03026

  3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

      Gross dividend                                               2.50890
      Foreign Dividends withholding tax (20%)                    - 0.50178
                                                                   2.00712
      Less portfolio costs                                       - 0.06839
      Distributable dividend                                       1.93873
         SA Dividend withholding tax
         Gross dividend                                            2.50890
         Less portfolio costs                                    - 0.06839
                                                                   2.44051


         SA DWT                                                    0.36608


         SA tax 0.36608 cents (15%) will not be deducted as foreign dividend
         withholding tax has already been deducted (SECTION 64N).


     4   REIT DIVIDEND

         Gross REIT dividend                                        3.24469
         Dividend withholding tax (15% - applicable to foreign
         holders)                                                 - 0.48670
         Net REIT dividend                                          2.75799

         No dividend tax is applicable for SA resident securities holders on
         the REIT.


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 Fini
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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