SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter End 30 September 2018-STXIND

Release Date: 12/10/2018 11:49
Code(s): STXIND
 
Wrap Text
Distribution Finalisation Announcement Quarter End 30 September 2018-STXIND

PSATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX INDI PORTFOLIO
JSE code: STXIND
ISIN code: ZAE000036364
("Satrix Indi" or the “ETF”)

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 2018

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   Indi
securities("investors")recorded in the register on Friday, 19 October 2018 in respect of the quarter ended 30 September
2018.

An aggregate amount of 53.02000 cents (R0.53020) per Satrix Indi security constituted as follows:

    Alpha       Dividend/     Foreign       Source               Gross         Subject to    Withholding        Net
    code         Interest     / Local         of             Distribution      Withholding     Tax (%)     Distribution
                                             funds            (Cents per       tax Yes/ No                  (Cents per
                                                                 unit)                                         unit)

 STXIND         Interest       Local                                0.23246         No                           0.23246
                Dividend       Local                               26.35087        Yes              20          21.08070
                Dividend      Foreign         UK                    5.41395        Yes              20           4.33116
                Dividend      Foreign        CHF                   21.02272        No                           21.02272
                               (S64N)
                                                                   53.02000                                     46.66704



Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended
September 2018 by the ETF to holders of Satrix INDI securities:

Last day to trade “cum” distribution:                Tuesday,16 October 2018
Securities trade “ex” distribution:                  Wednesday,17 October 2018
Record date:                                      Friday,19 October 2018
Payment date:                                     Wednesday, 24 October 2018
The distribution will be paid on Wednesday, 24 October 2018 to all securities holders recorded in the register on Friday,
19 October 2018.

1 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

Gross dividend                                             37.28144
Foreign Dividends withholding tax                        (13.04850)
                                                           24.23294
Less portfolio costs                                      (3.21022)
Distributable dividend                                     21.02272

SA Dividend withholding tax
Gross dividend                                             37.28144
Less portfolio costs                                      (3.21022)
                                                           34.07122

SA DWT                                                      6.81424

SA tax 6.81424 cents (20%) will not be deducted as foreign
dividend withholding tax has already been deducted (SECTION 64N).


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 15%, 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 2018

Sponsor:
Vunani Corporate Finance

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