SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement - Quarter Ended 31 December 2014 - STX40

Distribution Finalisation Announcement - Quarter Ended 31 December 2014 - STX40

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 31 DECEMBER
2014

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 Wednesday, 24
December 2014 in respect of the quarter ended 31 December 2014 as
follows:

An aggregate amount of 21.21 cents (R0.2121) per Satrix 40 security
constituted as follows:

      Net Local dividend per security (1)                  11.36847
      Dividend withholding tax on local dividend (15%)      1.85063
      Net Foreign dividend per security (2)                 3.17723
      Dividend withholding tax on foreign dividend (15%)    0.56069
      Foreign dividend (3)                                  3.83149
      Interest                                              0.18782
      Other (scrip lending income)                          0.23367
      TOTAL DISTRIBUTION                                   21.21000

  1   NET LOCAL DIVIDEND
      Gross dividend (cents per security)                  13.21910
      Gross STC credits                                    -0.88157
                                                           12.33753

      Dividend withholding tax (15% on taxable dividend)    1.85063

      Gross dividend (cents per security)                  13.21910
      Dividend withholding tax (15% on taxable dividend)   -1.85063
      Net dividend per security                            11.36847

  2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)

      Gross dividend (cents per security)                   3.73792
      Dividend withholding tax (15% on taxable dividend)   -0.56069
      Net dividend per security                             3.17723
     3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

         Gross dividend (cents per security)                          7.21650
         Foreign Dividends withholding tax                           -2.43832
                                                                      4.77818
         Less portfolio costs                                        -0.94669
         Distributable dividend                                       3.83149


         SA Dividend withholding tax
         Gross dividend                                               7.21650
         Less portfolio costs                                        -0.94669
                                                                      6.26981


         SA DWT                                                       0.94047




         SA tax 0.94047 cents (15%) will not be deducted as foreign dividend
         withholding tax has already been deducted (SECTION 64N).


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, 23 January 2015 to all holders
of Satrix 40 securities recorded in the register on Wednesday, 24
December 2014.

16 January 2015

Sponsor:
Vunani Corporate Finance

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