SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution finalisation announcement - quarter ended 30 June 2014 - amended for REIT calculation

Distribution finalisation announcement - quarter ended 30 June 2014 - amended for REIT calculation

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   2014   -
AMENDED

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, 27 June 2014 in respect of
the quarter ended 30 June 2014 as follows:

An aggregate amount of 8.46000 cents (R0.08460) per Satrix Swix Top 40
security constituted as follows:

     Net Local dividend per security (1)                     6.14401
     Dividend withholding   tax on local                     1.05128
     dividend (15%)
     Net Foreign dividend   per security (2)                 0.62387
     Dividend withholding   tax on foreign                   0.11010
     dividend (15%)
     Foreign Dividend (0%   SA Tax) (3)                      0.10649
     REIT Dividend                                           0.35668
     Interest                                                0.01919
     Other                                                   0.04838
     TOTAL DISTRIBUTION                                      8.46000

 1   NET LOCAL DIVIDEND
     Gross dividend (cents per security)                     7.19529
     Gross STC credits                                      -0.18675
                                                             7.00854


     Dividend withholding tax (15% on                       -1.05128
     taxable dividend)

     Gross dividend (cents per security)                     7.19529
     Dividend withholding tax (15% on                       -1.05128
     taxable dividend)
     Net dividend per security                               6.14401

 2   NET FOREIGN DIVIDEND (Foreign-dual
     listed shares)
     Gross dividend (cents per security)                     0.73397
     Dividend withholding tax (15% on                       -0.11010
     taxable dividend)
     Net dividend per security                               0.62387
 3       NET FOREIGN DIVIDEND NOT TAXED (S64N
         rebate)
         Gross Dividend                                 0.15331
         Foreign Dividends withholding tax (20%)       -0.03066
         Gross Dividend received by portfolio           0.12265
         Less portfolio costs                          -0.01616
         Distributable dividend                         0.10649


         SA Dividend withholding tax
         Gross dividend                                 0.15331
         Less portfolio costs                          -0.01616
                                                        0.13715
         SA DWT                                         0.02057


         SA tax 0.02057 cents (15%) will not be deducted as
         foreign dividend withholding tax has already been
         deducted (SECTION 64N).

     4    REIT DIVIDEND


          Gross REIT Dividend                           0.35668
          Dividend Withholding tax                     -0.05350
          (15% - applicable to foreign holders)
          Net REIT Dividend                             0.30318

          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 Friday, 18 July 2014 to all holders of Satrix
Swix Top 40 securities recorded in the register on Friday, 27 June 2014.

11 July 2014

Sponsor:
Vunani Corporate Finance

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