GRINDROD INDEX TRACKER MAN RF PTY LTD - Distribution Finalisation Announcement - LVLTRX

Distribution Finalisation Announcement - LVLTRX

Grindrod LowVolTrax
Share code: LVLTRX ISIN: ZAE000190112
("LowVolTrax")

A portfolio in the Grindrod Index Tracker Collective Investment Scheme registered as such in terms of
the Collective Investment Schemes Control Act, 45 of 2002, managed by Grindrod Index Tracker
Managers (RF) Proprietary Limited

DISTRIBUTION FINALISATION ANNOUNCEMENT

Holders of LowVolTrax securities are advised that a distribution will be made in respect of the quarter
ended 31 December 2014. The distribution of 13.16914 cents per LowVolTrax Security will be
comprised as follows:


Dividend (local) (to be taxed at 15%)(gross)                                            8.66999 cents
Dividends Withholding Tax (15%)                                                         1.30050 cents
Resultant net dividend                                                                  7.36949 cents

Gross REIT Distribution                                                                 3.72092 cents
(No Dividend Withholding Tax deducted for SA resident securities
holders)
Non-residents:
Local Dividends withholding Tax (15%)                                                   0.55814 cents
Net dividend                                                                            3.16278 cents

Dividend (foreign) (to be taxed at 15%)(gross)                                          0.25536 cents
Dividends Withholding Tax (15%)                                                         0.03830 cents
Resultant net dividend                                                                  0.21706 cents

Dividend (local gross)( subject to STC credits of 15%
i.e. exempt from tax)                                                                   0.52287 cents
STC Credits                                                                             0.52287 cents
Net Dividend (local)                                                                    0.52287 cents

The distribution will be made to all holders of LowVolTrax securities who were recorded in the register
on 24 December 2014 and will be paid on 16 January 2015.

14 January 2015

Sponsor
Grindrod Bank Limited

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