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

Distribution Finalisation Announcement – Quarter Ended 30 September 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 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 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 39.33 cents (R0.3933) per Satrix 40 security
constituted as follows:

     Net Local dividend per security (1)                                     13.37342
     Dividend withholding tax on local dividend (15%)                         2.36002
     Net Foreign dividend per security (2)                                   13.25646
     Dividend withholding tax on foreign dividend (15%)                       2.33937
     Foreign dividend (0% SA tax) (3)                                         5.33766
     REIT dividend (4)                                                        2.63113
     Interest (positive cash balances) (a)                                    0.03194
     TOTAL DISTRIBUTION                                                      39.33000


 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)                                     15.73344
     Dividend withholding tax (15% on taxable dividend)                     - 2.36002
     Net dividend per security                                               13.37342

 2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)

     Gross dividend (cents per security)                                     15.59583
     Dividend withholding tax (15% on taxable dividend)                     - 2.33937
     Net dividend per security                                               13.25646

 3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

     Gross dividend                                                           9.27495
     Foreign Dividends withholding tax                                      - 3.24623
                                                                              6.02872
     Less portfolio costs                                                   - 0.69106
     Distributable dividend                                                   5.33766
     SA Dividend withholding tax
     Gross dividend                                                           9.27495
     Less portfolio costs                                                   - 0.69106
                                                                              8.58389


     SA DWT                                                                   1.28758


     SA tax 1.28758 cents (15%) will not be deducted as foreign dividend
     withholding tax has already been deducted (SECTION 64N).


 4   REIT DIVIDEND

     Gross REIT dividend                                                      2.63113
     Dividend withholding tax (15% applicable to foreign
     holders)                                                               - 0.39467
     Net REIT dividend                                                        2.23646

     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 40
securities recorded in the register on Friday, 30 September 2016.


7 October 2016

Sponsor:
Vunani Corporate Finance

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