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Correction Announcement - Distribution Finalisation Announcement 2 Months Ended 31 October 2022 - STXCAP
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX CAPPED ALL SHARE ETF
JSE code: STXCAP
ISIN: ZAE000303905
("Satrix Cap")
A portfolio in the Satrix Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment Schemes
Control Act, 45 of 2002.
CORRECTION ANNOUNCEMENT - DISTRIBUTION FINALISATION ANNOUNCEMENT 2 MONTHS ENDED 31 OCTOBER 2022
Holders of Satrix Cap securities ("Investors") are referred to the Satrix Cap distribution finalisation announcement published on SENS on
10 November 2022 (“the Previous Announcement”) in respect of a distribution for the 2 months ended 31 October 2022 (“Distribution
Period”).
Investors are advised that the Previous Announcement contained an error in terms of the percentage Foreign Tax withheld at source
relating to the CH foreign SA listed dividend declared. The foreign tax % withheld at source were announced as 35.00005%, however the
foreign tax % withheld at source shoud have been 35.00000%.
The table below replaces the distribution details for the CH Foreign SA listed dividend, as stated in the Previous Announcement.
Previous Correctional
announcement announcement
Dividend (64N Dividend (64N
Alpha Code: STXCAP more than more than
DTA) DTA)
Distribution Source type Foreign SA Listed Foreign SA Listed
Net Distribution Reinvested No No
Source of Funds (Country Code) CH CH
Subject to Foreign Withholding tax Yes Yes
Gross Foreign Rate (cents per unit) 8.82036 8.82036
Foreign Tax % withheld at source 35.00005% 35.00000%
Foreign Tax amount per unit 3.08713 3.08713
DTA with Source Country 15% 15%
Foreign Tax Reclaim % 20% 20%
Portfolio/Management Cost 0.13150 0.13150
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 5.60173 5.60173
**Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 8.68886 8.68886
SA Withholding Tax % 5.0000% 5.0000%
SA Withholding Tax amount per unit 0.43444 0.43444
Local Net Rate 5.16729 5.16729
*Withholding Tax on Interest (WTI) came into effect on 1 March 2015.
Interest accruing from a South African source to a non-resident, excluding a controlled foreign company, will be subject to withholding tax
at a rate of 15% on payment, except interest,
• arising on any Government debt instrument
• arising on any listed debt instrument
• arising on any debt owed by a bank or the South African Reserve Bank
• arising from a bill of exchange or letter of credit where goods are imported into South Africa and where an authorized dealer has
certified such on the instrument
• payable by a headquarter company
• accruing to a non-resident natural person who was physically present in South Africa for a period exceeding 183 days in aggregate,
during that year, or carried on a business through a permanent establishment in South Africa.
Investors are advised that to the extent that the distribution amount comprise of any interest, it will not be subject to WTI by virtue of the
fact that it is listed debt instruments and/or bank debt.
**No dividend withholding tax will be deducted from dividends payable to a South African tax resident qualifying for exemption from
dividend withholding tax provided that the investor has provided the following forms to their Central Securities Depository Participant
(“CSDP”) or broker, as the case may be in respect of its participatory interest:
a) a declaration that the distribution is exempt from dividends tax; and
b) a written undertaking to inform their CSDP or broker, as the case may be, should the circumstances affecting the exemption change
or the beneficial owner cease to be the beneficial owner,
both in the form prescribed by the South African Revenue Service. South African tax resident investors are advised to contact their CSDP
or broker, as the case may be, to arrange for the abovementioned documents to be submitted prior to payment of the distribution, if such
documents have not already been submitted.
Non-resident investors for South African income tax purposes
The dividend distribution received by non-resident investors will be exempt from income tax in terms of section 10(1)(k)(i) of the Act, but
will be subject to dividend withholding tax. Dividend withholding tax is levied at a rate of 20%, unless the rate is reduced in terms of any
applicable agreement for the avoidance of double taxation (“DTA”) between South Africa and the country of residence of the non-resident
investor.
A reduced dividend withholding rate in terms of the applicable DTA may only be relied on if the non-resident investor has provided the
following forms to their CSDP or broker, as the case may be in respect of its participatory interest:
a) a declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and
b) a written undertaking to inform the CSDP or broker, as the case may be, should the circumstances affecting the reduced rate change
or the beneficial owner cease to be the beneficial owner,
both in the form prescribed by the South African Revenue Service. Non-resident investors are advised to contact their CSDP or broker, as
the case may be, to arrange for the abovementioned documents to be submitted prior to the payment of the distribution if such
documents have not already been submitted.
Both resident and non-resident investors are encouraged to consult their professional advisors should they be in any doubt as to the
appropriate action to take.
Sandton
14 November 2022
JSE Sponsor
Vunani
Date: 14-11-2022 12:28:00
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