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

Distribution Finalisation Announcement – Quarter Ended 30 JUNE 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 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 Swix Top 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 10.42 cents (R0.1042) per Satrix Swix Top 40
security constituted as follows:

     Net Local dividend per security (1)                                     6.94482
     Dividend withholding tax on local dividend (15%)                        1.22556
     Net Foreign dividend per security (2)                                   0.92458
     Dividend withholding tax on foreign dividend (15%)                      0.16316
     Foreign dividend (0% SA tax) (3)                                        0.15358
     REIT dividend (4)                                                       1.00124
     Interest (positive cash balances) (a)                                   0.00706
     TOTAL DISTRIBUTION                                                     10.42000


 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)                                    8.17038
     Dividend withholding tax (15% on taxable dividend                    - 1.22556
     Net dividend per security                                              6.94482

 2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)

     Gross dividend (cents per security)                                    1.08774
     Dividend withholding tax (15% on taxable dividend)                   - 0.16316
     Net dividend per security                                              0.92458

 3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

     Gross dividend                                                         0.21339
     Foreign Dividends withholding tax (20%)                              - 0.04268
                                                                            0.17071
     Less portfolio costs                                                 - 0.01713
     Distributable dividend                                                 0.15358
     SA Dividend withholding tax
     Gross dividend                                                         0.21340
     Less portfolio costs                                                 - 0.01713
                                                                            0.19627


     SA DWT                                                                 0.02944


     SA tax 0.02944 cents (15%) will not be deducted as foreign dividend
     withholding tax has already been deducted (SECTION 64N).

 4   REIT DIVIDEND


     Gross REIT dividend                                                   1.00124
     Dividend withholding tax (15% - applicable to foreign
     holders                                                             - 0.15019
     Net REIT dividend                                                     0.85105

     No dividend tax is applicable for SA resident securities holders 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 Swix Top
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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