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DISTRIBUTION ANNOUNCEMENT
STANLIB TOP 40 FUND ("STANLIB40")(being a portfolio under the STANLIB ETF
CIS registered in the Republic of South Africa in terms of the Collective
Investment Schemes Control Act CISCA)
Share Code: STAN40
Abbreviated Name: STANLIB40
ISIN: ZAE000148425
("STAN40")
DISTRIBUTION ANNOUNCEMENT
Holders of STANLIB40 securities ("Securities Holders") are referred to the
announcement dated Thursday, 19 July 2012 setting out details of a possible
quarterly distribution by the ETF to Securities Holders.
Further to the above mentioned announcement, the manager of the STANLIB ETF
Collective Investment Scheme(the Manager) has resolved to make a quarterly
distribution to Securities Holders for the quarter ended 30 June 2012 ("the
Distribution") in an amount of 26.88000 cents per STANLIB40 ETF security. The
distribution will be constituted as follows :
Dividend (local non taxable -pre DWT) : 1.94 cents
Gross Dividend (local) to be taxed : 23.37 cents
Dividend (local STC credits) : 0.11 cents
Net taxable : 23.26 cents
Dividend Withholding Tax : 3.48900 cents (15%)
Net dividend : 19.88100 cents
Gross Dividend (foreign-dual listed shares): 1.36 cents
Dividend Withholding Tax : 0.20400 cents (15%)
Dividend (foreign-withholding tax) : (0.04) cents (2.941%)
Net Dividend : 1.15600 cents
Other : 0.14 cents [manufactured
dividend/interest]
The Security Holders who are not exempt from dividend tax will receive the Net
Dividend.
Securities Holders should be aware that this distribution includes the special
dividend paid by Old Mutual Limited (OML) on 7 June, 2012. Special dividends
are capital events from an indexation perspective and are usually reinvested
in the portfolio, however this particular special dividend is subject to
Dividend Withholding Tax (DWT) and consequently is required to be dealt with
differently.
Accordingly, the Manager has resolved, rather than reinvesting the special
dividend into the portfolio, to distribute the special dividend to investors
to enable the necessary deduction of DWT for payment to SARS.
This will result in the value of each security representing 1/1003 of the
index rather than 1/1000th .
The Manager is in the process of obtaining the necessary approval to
consolidate the securities, in order to reduce the number of securities in
issue and thereby increase the value of each security. This will ensure that
each security again represents 1/1000th of the FTSE/ JSE TOP40 index.
The value of the OML special dividend is 9.23 cents per ETF security.
The Distribution will be made to all Securities Holders recorded in the
register on Friday, 29 June 2012 and will be paid on Friday, 03 August
2012.
Johannesburg
27 July 2012
Sponsor
The Standard Bank of South Africa Limited
Date: 27/07/2012 01:21:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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