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SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution and Re-Investment Announcement for April 2019

Release Date: 15/05/2019 12:30
Code(s): STXRAF     PDF:  
 
Wrap Text
Distribution and Re-Investment Announcement for April 2019

 SATRIX COLLECTIVE INVESTMENT SCHEME
 SATRIX RAFI 40
 JSE code: STXRAF
 ISIN: ZAE000126033
 (“Satrix RAFI 40”)

 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 AND RE-INVESTMENT ANNOUNCEMENT FOR APRIL 2019

 Investors are advised that 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 RAFI 40 securities("investors”) recorded in the register on Friday, 24 May 2019 in respect
 of the month ended 30 April 2019.

 An aggregated amount of 13.81000 ZAR cents (R 0.13810) per Satrix RAFI 40 security is declared as follows:
Alpha         Dividend/      Foreign/         Source          Gross           Subject    Withholding        Net
 code          Interest        Local            of          Distribut            to        Tax (%)     Distribution
                                               funds           ion            Withhold                  (Cents per
                                                             (Cents           ing tax                      unit)
                                                            per unit)         Yes/ No


STXRAF        Dividend        Local                            10.02369         Yes          20          8.01895
              Dividend       Foreign           UK              3.72891          Yes          20          2.98313
              Interest        Local                            0.05740           No                      0.05740
                                                               13.81000                                  11.05948


 Notice is hereby given that the following dates are of importance in regard to the distribution for the
 month of April 2019 by the ETF to holders of Satrix RAFI 40 securities:

  Last day to trade “cum” distribution:                Tuesday, 21 May 2019
  Securities trade “ex” distribution:                  Wednesday, 22 May 2019
  Record date:                                         Friday, 24 May 2019
  Payment date :                                       Wednesday, 29 May 2019


 The distribution will be paid on Wednesday, 29 May 2019 to all securities holders recorded in the register
 on Friday, 24 May 2019.


 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.

In accordance with the investment policy of Satrix RAFI 40 the distribution (excluding the dividends tax
as detailed above) will be re-invested on behalf of investors through the purchase of securities comprising
the FTSE/JSE RAFI 40 Index in accordance with the calculation methodology of the total return version of
this Index, thereby increasing the net asset value of Satrix RAFI 40 and, proportionately, each Satrix RAFI
40 security.

The distribution (excluding the dividend tax as detailed above) will:

-     where Satrix RAFI 40 securities are held on capital account be added
      to the base cost of each Satrix RAFI 40 security for capital gains tax
      purposes; or
-     where Satrix RAFI 40 securities are held as trading stock be regarded
      as part of the cost of acquiring a Satrix RAFI 40 security.



Sandton

15 May 2019

Sponsor:
Vunani Corporate Finance

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