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SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter End 30 September 2020 STXMMT

Release Date: 12/10/2020 14:53
Code(s): STXMMT     PDF:  
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Distribution Finalisation Announcement Quarter End 30 September 2020 STXMMT

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX MOMENTUM PORTFOLIO
JSE code: STXMMT
ISIN code: ZAE000264008
("Satrix Momentum")

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 SEPTEMBER 2020
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 Momentum securities("investors")recorded
in the register on Friday, 23 October 2020 in respect of the quarter ended 30 September 2020.

An aggregate amount of 3.90000 cents (R0.03900) per Satrix Momentum security constituted as follows:

     Alpha        Dividend/       Foreign      Source              Gross        Subject    Withholding        Net
     code          Interest       / Local        of             Distribution       to        Tax (%)     Distribution
                                               funds             (Cents per    Withholdi                  (Cents per
                                                                   unit)         ng tax                      unit)
                                                                                Yes/ No
SATMMT             Dividend         Local                         2.51957          Yes         20          2.01566
                   Dividend       Foreign   Great Britain         1.00767         Yes          20          0.80614
                                     Dual
                                  Foreign
                   Dividend                  Switzerland          0.35907        Yes         Note 1        0.32683
                                   (S64N)
                   Interest        Local                          0.01369         No                       0.01369
                                                                  3.90000                                  3.16232

Note 1
NET FOREIGN DIVIDEND NOT TAXED (S64N REBATE)

Gross dividend                                               0.81647
Foreign Dividends withholding tax                           (0.28576)
SA Dividend withholding tax payable*                        (0.03224)
                                                             0.49847
Less portfolio costs                                        (0.17164)
Distributable dividend                                      0.32683

*Following the increase in the South African dividends tax rate from 15 percent to 20 percent a revised binding class
ruling has been obtained from the South African Revenue Service. In terms of this ruling, those depository receipt holders
who are not exempt from the South African dividends tax will be subject to a rate of 5 percent South African tax because
of the credit available in respect of the Swiss withholding tax paid. Those depository receipt holders who qualify for
exemption from the South African tax (e.g. South African companies and non-residents of South Africa) must ensure that
they have filed the relevant exemption forms with their brokers/ banks in order to ensure that no South African tax is
withheld.



Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended 30
September 2020 by the ETF to holders of Satrix Momentum securities:


Last day to trade “cum” distribution:                Tuesday, 20 October 2020
Securities trade “ex” distribution:                  Wednesday, 21 October 2020
Record date:                                         Friday, 23 October 2020
Payment date:                                        Monday, 26 October 2020

The distribution will be paid on Monday, 26 October 2020 to all securities holders recorded in the register on Friday, 23
October 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

12 October 2020

Sponsor:
Vunani Corporate Finance

Date: 12-10-2020 02:53:00
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