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SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter End 30 June 2020 - STXFIN

Release Date: 10/07/2020 17:15
Code(s): STXFIN     PDF:  
 
Wrap Text
Distribution Finalisation Announcement Quarter End 30 June 2020 - STXFIN

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX FINI PORTFOLIO
JSE code: STXFIN
ISIN Code: ZAE000036356
("Satrix Fini")

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.

DISTRIBUTION FINALISATION ANNOUNCEMENT QUARTER END 30 JUNE 2020

Investors are advised that the Manager and Trustee of Satrix (being Satrix Managers (RF) Proprietary Limited
and Standard Chartered Bank), respectively have declared a distribution to holders of Satrix Fini securities
("investors") recorded in the register on Friday, 17 July 2020 in respect of the quarter ended 30 June
2020.

An aggregate amount of 36.0100 cents (R0.360100) per Satrix Fini security constituted as follows:

     Alpha       Dividend/     Foreign         Source             Gross          Subject    Withholding          Net
     code         Interest     / Local        of funds        Distribution          to        Tax (%)       Distribution
                                                               (Cents per       Withholdi                    (Cents per
                                                                  unit)           ng tax                        unit)
                                                                                 Yes/ No
SATFIN            Dividend      Local                                32.44941      Yes          20               25.95953
                  Dividend       REIT                                 3.41266      Yes          20                2.73012
                  Interest      Local                                 0.14793      No                             0.14793
                                                                     36.01000                                    28.83758

Notice is hereby given that the following dates are of importance in regard to the distribution for the
quarter ended June 2020 by the ETF to holders of Satrix Fini securities:

Last day to trade “cum” distribution:               Tuesday, 14 July 2020
Securities trade “ex” distribution:                 Wednesday, 15 July 2020
Record date:                                        Friday, 17 July 2020
Payment date:                                       Wednesday, 22 July 2020

The distribution will be paid on Wednesday, 22 July 2020 to all securities holders recorded in the register
on Friday, 17 July 2020.

Withholding Tax on Interest (WTI) came into effect on 1 June 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

10 July 2020

Sponsor:
Vunani Corporate Finance

Date: 10-07-2020 05:15:00
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