SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement - Quarter Ended 30 June 2015 - STX40

Distribution Finalisation Announcement - Quarter Ended 30 June 2015 - STX40

Satrix Managers (RF) (Pty) Ltd
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 30 JUNE 2015

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 Friday, 26 June 2015 in respect of
the quarter ended 30 June 2015 as follows:

An aggregate amount of 32 cents (R0.32) per Satrix 40 security constituted
as follows:

     Net Local dividend per security (1)                              21.23964
     Dividend withholding tax on local dividend (15%)                  3.72241
     Net Foreign dividend per security (2)                             3.72340
     Dividend withholding tax on foreign dividend (15%)                0.65707
     Foreign dividend (0% SA tax) (3)                                  0.79896
     REIT distribution (4)                                             1.44125
     Other (scrip lending income)                                      0.41727
     TOTAL DISTRIBUTION                                               32.00000



 1   NET LOCAL DIVIDEND

     Gross dividend (cents per security)                              24.96205
     Gross STC credits                                            - 0.14598
                                                                      24.81607


     Dividend withholding tax (15% on taxable dividend)           - 3.72241


     Gross dividend (cents per security)                              24.96205
     Dividend withholding tax (15% on taxable dividend            - 3.72241
     Net dividend per security                                        21.23964

 2   NET FOREIGN DIVIDEND (Foreign-dual listed shares)

     Gross dividend (cents per security)                               4.38047
     Dividend withholding tax (15% on taxable dividend)           - 0.65707
     Net dividend per security                                      3.72340
 3   NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

     Gross dividend (cents per security)                             1.22669
     Foreign dividend withholding tax (20%)                        - 0.24534
                                                                     0.98135
     Less portfolio costs                                          - 0.18239
     Distributable dividend                                          0.79896


     SA Dividend withholding tax
     Gross dividend                                                  1.22669
     Less portfolio costs                                          - 0.18239
                                                                     1.04430


     SA DWT                                                          0.15664


     SA tax 0.15664 cents (15%) will not be deducted as foreign dividend
     withholding tax has already been deducted (SECTION 64N).


 4   REIT DISTRIBUTION
     Gross REIT distribution                                         1.44125
     Dividend withholding tax (15% - applicable to foreign         - 0.21619
     holders)
     Net REIT distribution                                           1.22506


     No dividend tax is applicable for SA resident securities holders on the
     REIT distribution. Dividend tax of 15 % is applicable for non-resident
     shareholders on the REIT distribution.



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 23 July 2015 to all holders of Satrix 40
securities recorded in the register on Friday, 26 June 2015.

16 July 2015

Sponsor:
Vunani Corporate Finance

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