SATRIX COLLECTIVE INVESTMENT SCHEME - Result of the Vote in Respect of the Proposed Change in the Underlying Index of the Satrix Resi ETF Portfolio

Result of the Vote in Respect of the Proposed Change in the Underlying Index of the Satrix Resi ETF Portfolio

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX RESI PORTFOLIO
JSE Code: STXRES
ISIN: ZAE000078622
("Satrix Resi" or the "ETF")

A portfolio in the Satrix Collective Investment Scheme, registered
as such in terms of the Collective Investment Schemes Control Act,
45 of 2002

RESULT OF THE VOTE IN RESPECT OF THE PROPOSED CHANGE IN UNDERLYING
INDEX OF THE SATRIX RESI ETF PORTFOLIO

Holders of Satrix Resi securities are referred to the circular sent
out by the Satrix Collective Investment Scheme on 15 April 2015
(“the Circular”) regarding the proposed change of the underlying
index which the Satrix Resi tracks.

Background to the change in underlying index

Stipulations of Board Notice 90 (“BN 90”) of the Collective
Investment Scheme Control Act, 2002 (“CISCA”) included conditions
and limits in which securities may be included in a portfolio.

In terms of section 3 (10) of BN 90, a manager may include in any
index tracking portfolio (such as the Satrix RESI ETF Portfolio)
securities issued by a company in the index, but limited to:

1.   Up to 120% of that company’s weighting in the relevant index
     and,

2.   The weighting of the securities in a particular company are
     subject to a maximum of 35% of the total market value of the
     portfolio (“35% Weighting Rule”).

The Satrix RESI ETF Portfolio is therefore in breach of the 35%
Weighting Rule as described in BN 90 and evidenced by the
representation of BHP Billiton Plc. An exemption was obtained from
the Financial Services Board allowing the Satrix RESI ETF Portfolio
sufficient time to correct this breach.

In this regard, the JSE Limited has since developed an index which
captures the 35% Weighting Rule, namely the FTSE/JSE Capped Resource
10 Index.

The purpose of the Circular was therefore to provide holders of
Satrix Resi securities with this background as well as to obtain
their vote in terms of whether they approve of the change allowing
the Satrix RESI ETF Portfolio to track the new FTSE/JSE Capped
Resource 10 Index.

In order for the change of index to be implemented, as per paragraph
59.1 of the deed, 25% of the holders of issued Satrix Resi
securities are required to vote in favour of the change.
Results of the vote

Holders of Satrix Resi securities have voted in favour of
implementing the change that the Satrix RESI ETF Portfolio will no
longer track the FTSE/JSE Resource 10 Index but will now track the
FTSE/JSE Capped Resource 10 Index.

The voting tallies are as follows:

              Responses received                                        Votes in         Votes
              of the total value                                     favour of the    against the
                                    No responses    Total value of
                of the Portfolio                                        proposed        proposed
                                    received of
               (excluding Satrix                     the Portfolio   amendments of    amendments
                                   total value of
                 Managers (RF)                                         the total     of the total
                                     Portfolio
                  Proprietary                                          responses       responses
                    Limited)                                            received        received
    Value
                 71 293 132         188 160 988      259 454 120      70 036 247      1 256 886
   (Rand)
 Percentage
                   27.48%             72.52%             100%           98.24%          1.76%
     (%)

Implementation of the change to the FTSE/JSE Capped Resource 10
Index

It is envisioned that the change to the FTSE/JSE Capped Resource 10
Index will occur effective Monday, 22 June 2015.

Holders of Satrix Resi securities are hereby informed that, once the
above change has been implemented, there will be no effect on either
the number of issued Satrix Resi securities, or the value of each
Satrix Resi security.

What will change is the index divisor which will only become known
after the close on Friday 19 June 2015.

A supplement to the offering circular, issued on 15 March 2006,
shall be made available on the website of Satrix Collective
Investment Scheme on www.satrix.co.za detailing the above changes.

19 June 2015


Sponsor
Vunani Corporate Finance

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