STXRAF 201808070017A
Distribution and Re-Investment Announcement for July 2018-STXRAF

  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 JULY 2018

  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, 17 August 2018 in
  respect of the month ended 31 July 2018.

  An aggregated amount of 0.80000 ZAR cents (R 0.00800) per Satrix RAFI 40 security is declared as follows:
     Alpha          Dividend/    Foreign/        Sourc               Gross         Subject    Withholding        Net
      code           Interest     Local           e of           Distribution         to        Tax (%)     Distribution
                                                 funds            (Cents per       Withhold                  (Cents per
                                                                     unit)         ing tax                      unit)
                                                                                   Yes/ No

STXRAF              Dividend      Local                                 0.26071      Yes         20                0.20857
                    Dividend     Foreign          UK                    0.52362      Yes         20                0.41890
                    Interest      Local                                 0.01567      No                            0.01567
                                                                        0.80000                                    0.64314

  Notice is hereby given that the following dates are of importance in regard to the distribution for the
  month of July 2018 by the ETF to holders of Satrix RAFI 40 securities:

   Last day to trade “cum” distribution:                 Tuesday, 14 August 2018
   Securities trade “ex” distribution:                   Wednesday, 15 August 2018
   Record date:                                          Friday, 17 August 2018
   Payment date :                                        Wednesday, 22 August 2018




  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

07 August 2018

Sponsor:
Vunani Corporate Finance

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