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Distribution Finalisation Announcement For The Quarter End 30 September 2022 - STXPRO
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX PROPERTY PORTFOLIO
JSE code: STXPRO
ISIN Code: ZAE0000240131
("Satrix Prop")
A portfolio in the Satrix Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002.
DISTRIBUTION FINALISATION ANNOUNCEMENT QUARTER END 30 SEPTEMBER 2022 - STXPRO
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 Prop securities ('investors') recorded in the register on Friday, 21 October 2022 in respect of the quarter ended 30
September 2022.
An aggregate amount of 13.34000 cents (R0.13340) per Satrix Prop security is declared as follows:
Dividend Dividend Dividend
Alpha Code: STXPRO Dividend Dividend Dividend (64N less (64N less (64N less Tax Reclaim REIT Total
than DTA) than DTA) than DTA)
Foreign SA Foreign SA Foreign SA Foreign SA Foreign SA Foreign SA Foreign SA
Distribution Source type Listed Listed Listed Listed Listed Listed listed Local
Net Distribution Reinvested No No No No No No No No
Source of Funds (Country Code) MU GG VG GG GB NL GG ZA
Subject to Foreign Withholding tax No No No Yes Yes Yes No No
Gross Foreign Rate (cents per unit) 0.83086 0.56647 1.16781 0.16650 0.13704 3.94818 0.00086
Foreign Tax % withheld at source 20.00000% 20.00000% 15.00000%
Foreign Tax amount per unit 0.03330 0.02741 0.59223
DTA with Source Country 15% 15% 10%
Foreign Tax Reclaim % 5% 5% 5%
Portfolio/Management Cost 0.01270 0.01046 0.32008
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 0.83086 0.56647 1.16781 0.12050 0.09917 3.03587 0.00086 7.51846 13.34000
**Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 0.83086 0.56647 1.16781 0.15380 0.12658 3.62810 0.00086 7.51846
SA Withholding Tax % 20.00000% 20.00000% 20.00000% 5.00000% 5.00000% 10.00000% Note 1
SA Withholding Tax amount per unit 0.16617 0.11329 0.23356 0.00769 0.00633 0.36281
Local Net Rate 0.66469 0.45318 0.93425 0.11281 0.09284 2.67306 0.00086 7.51846 12.45015
Note 1: Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents and for non-residents it is subject to 20% SA
withholding tax. The Gross rate for non-residents is 7.51846 cents per unit and the net rate is 6.01477 cents per unit.
Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended 30 September 2022 by the ETF to holders of
Satrix Prop securities:
Last day to trade “cum” distribution: Tuesday, 18 October 2022
Securities trade “ex” distribution: Wednesday, 19 October 2022
Record date: Friday, 21 October 2022
Payment date: Monday, 24 October 2022
The distribution will be paid on Monday, 24 October 2022 to all securities holders recorded in the register on Friday, 21 October 2022.
*Withholding Tax on Interest (WTI) came into effect on 1 March 2015.
Interest accruing from a South African source to a non-resident, excluding a controlled foreign company, will be subject to withholding tax at a rate of 15% on
payment, except interest,
• arising on any Government debt instrument
• arising on any listed debt instrument
• arising on any debt owed by a bank or the South African Reserve Bank
• arising from a bill of exchange or letter of credit where goods are imported into South Africa and where an authorized dealer has certified such on the
instrument
• payable by a headquarter company
• accruing to a non-resident natural person who was physically present in South Africa for a period exceeding 183 days in aggregate, during that year, or carried
on a business through a permanent establishment in South Africa.
Investors are advised that to the extent that the distribution amount comprise of any interest, it will not be subject to WTI by virtue of the fact that it is listed debt
instruments and/or bank debt.
**No dividend withholding tax will be deducted from dividends payable to a South African tax resident qualifying for exemption from dividend withholding tax
provided that the investor has provided the following forms to their Central Securities Depository Participant (“CSDP”) or broker, as the case may be in respect of its
participatory interest:
a) a declaration that the distribution is exempt from dividends tax; and
b) a written undertaking to inform their CSDP or broker, as the case may be, should the circumstances affecting the exemption change or the beneficial owner
cease to be the beneficial owner,
both in the form prescribed by the South African Revenue Service. South African tax resident investors are advised to contact their CSDP or broker, as the case may
be, to arrange for the abovementioned documents to be submitted prior to payment of the distribution, if such documents have not already been submitted.
Non-resident investors for South African income tax purposes
The dividend distribution received by non-resident investors will be exempt from income tax in terms of section 10(1)(k)(i) of the Act, but will be subject to dividend
withholding tax. Dividend withholding tax is levied at a rate of 20%, unless the rate is reduced in terms of any applicable agreement for the avoidance of double
taxation (“DTA”) between South Africa and the country of residence of the non-resident investor.
A reduced dividend withholding rate in terms of the applicable DTA may only be relied on if the non-resident investor has provided the following forms to their
CSDP or broker, as the case may be in respect of its participatory interest:
a) a declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and
b) a written undertaking to inform the CSDP or broker, as the case may be, should the circumstances affecting the reduced rate change or the beneficial owner
cease to be the beneficial owner,
both in the form prescribed by the South African Revenue Service. Non-resident investors are advised to contact their CSDP or broker, as the case may be, to
arrange for the abovementioned documents to be submitted prior to the payment of the distribution if such documents have not already been submitted.
Both resident and non-resident investors are encouraged to consult their professional advisors should they be in any doubt as to the appropriate action to take.
Sandton
14 October 2022
JSE Sponsor
Vunani
Date: 14-10-2022 11:00:00
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