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

Distribution Finalisation Announcement - Quarter Ended 31 December 2014 - STXIND

SATRIX INDI PORTFOLIO
JSE code: STXIND
ISIN Code: ZAE000036364
("Satrix Indi")

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 Indi
securities recorded in the register Wednesday, 24 December 2014 in respect
of the quarter ended 31 December 2014 as follows:

An aggregate amount of 23.86 cents (R0.2386) per Satrix Indi security
constituted as follows:


      Net Local dividend per security (1)                        10.31715
      Dividend withholding tax on local dividend (15%)            1.53713
      Net Foreign dividend per security (2)                       3.47418
      Dividend withholding tax on foreign dividend (15%)          0.61309
      Foreign dividend (3)                                        7.48904
      Interest                                                    0.18863
      Other (scrip lending income)                                0.24078
      TOTAL DISTRIBUTION                                         23.86000

  1   NET LOCAL DIVIDEND
      Gross dividend (cents per security)                        11.85428
      Gross STC credits                                          -1.60674
                                                                 10.24754

      Dividend withholding tax (15% on taxable dividend)          1.53713

      Gross dividend (cents per security)                        11.85428
      Dividend withholding tax (15% on taxable dividend)         -1.53713
      Net dividend per security                                  10.31715

  2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)

      Gross dividend (cents per security)                         4.08727
      Dividend withholding tax (15% on taxable dividend)         -0.61309
      Net dividend per security                                   3.47418
     3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

         Gross dividend                                              14.30406
         Foreign Dividends withholding tax (35%)                     -5.00642
                                                                      9.29764
         Less portfolio costs                                        -1.80860
         Distributable dividend                                       7.48904


         SA Dividend withholding tax
         Gross dividend                                              14.30406
         Less portfolio costs                                        -1.80860
                                                                     12.49546


         SA DWT                                                       1.87432


         SA tax 1.87432 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 Fini securities recorded in the register on Wednesday, 24 December
2014.

16 January 2015

Sponsor:
Vunani Corporate Finance

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