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

Distribution Finalisation Announcement - Quarter Ended 31 December 2014- STXSWX

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 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 Swix Top 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 5.14 cents (R0.0514) per Satrix Swix Top 40 security
constituted as follows:


      Net Local dividend per security (1)                        3.62454
      Dividend withholding tax on local dividend (15%)           0.58995
      Net Foreign dividend per security (2)                      0.44666
      Dividend withholding tax on foreign dividend (15%)         0.07882
      Foreign dividend (3)                                       0.31651
      Interest                                                   0.04601
      Other(scrip lending income)                                0.03751
      TOTAL DISTRIBUTION                                         5.14000

  1   NET LOCAL DIVIDEND
      Gross dividend (cents per security)                        4.21449
      Gross STC credits                                         -0.28149
                                                                 3.93300


      Dividend withholding tax (15% on taxable dividend)         0.58995


      Gross dividend (cents per security)                        4.21449
      Dividend withholding tax (15% on taxable dividend)        -0.58995
      Net dividend per security                                  3.62454

  2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)

      Gross dividend (cents per security)                        0.52548
      Dividend withholding tax (15% on taxable dividend)        -0.07882

      Net dividend per security                                  0.44666
     3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

         Gross dividend                                             0.57422
         Foreign Dividends withholding tax                         -0.18585
                                                                    0.38837
         Less portfolio costs                                      -0.07186
         Distributable dividend                                     0.31651


         SA Dividend withholding tax
         Gross dividend                                             0.57422
         Less portfolio costs                                      -0.07186
                                                                    0.50236


         SA DWT                                                     0.07535




         SA tax 0.07535 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 Swix Top 40 securities recorded in the register on Wednesday, 24
December 2014.

16 January 2015

Sponsor:
Vunani Corporate Finance

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