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Final Distribution Announcement - STXDEQ
SATRIX COLLECTIVE INVESTMENT SCHEME 2
SATRIX VOLATILITY MANAGED SA DEFENSIVE EQUITY ETF
JSE code: STXDEQ
ISIN code: ZAE000318895
("SATRIXDEQ")
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.
FINAL DISTRIBUTION ANNOUNCEMENT
Further to the announcement released on SENS on 14 August 2023 regarding the closure and delisting of the Satrix
Volatility Managed SA Defensive Equity ETF, the Manager and Trustees of the Satrix Collective Investment Scheme
(being Satrix Managers (RF) (Pty) Limited and Standard Chartered Bank), respectively, have declared a final distribution
of 1024.69000 cents (R10.24690) per security to holders of ETF securities (''investor'') recorded in the register on
Friday, 29 September 2023 as follows:
Alpha Code: STXDEQ Capital** Dividend Dividend *Interest Total
Foreign SA
Distribution Source type Local Local Listed Local
Net Distribution Reinvested No No No No
Source of Funds (Country Code) ZA ZA GB ZA
Subject to Foreign Withholding tax No No No No
Gross Foreign Rate (cents per unit) 1.79318
Foreign Tax % withheld at source
Foreign Tax amount per unit
DTA with Source Country
Foreign Tax Reclaim %
Portfolio/Management Cost
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 1012.39000 7.89127 1.79318 2.61555 1024.69000
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 1012.39000 7.89127 1.79318 2.61555
SA Withholding Tax % 20.00000% 20.00000%
SA Withholding Tax amount per unit 1.57825 0.35864
Local Net Rate 1012.39000 6.31302 1.43454 2.61555 1022.75311
**Capital distribution
The capital distribution amount of 1012.39000 cents (R10.12390) per SATRIXDEQ security, is not subject to dividend
withholdings tax as the capital distribution is paid out of capital proceeds from the disposal of the underlying
securities. As the capital distribution will be regarded as a return of capital and may have potential capital gains tax
consequences, investors are advised to consult their tax advisers regarding the impact of the capital distribution.
Income distribution
An aggregate amount of 12.30000 cents (R0.12300) per SATRIXDEQ security is declared as income distribution.
Notice is hereby given that the following dates are of importance in regard to the final distribution by the ETF to
holders of SATRIXDEQ securities:
Last day to trade “cum” distribution: Tuesday, 26 September 2023
Securities trade “ex” distribution: Wednesday, 27 September 2023
Record date: Friday, 29 September 2023
Payment date: Monday, 02 October 2023
The distribution will be paid on Monday, 02 October 2023 to all securities holders recorded in the register on Friday,
29 September 2023.
*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
a written undertaking to inform the CSDP or broker, as the case may be, should the circumstances affecting the
b)
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
27 September 2023
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Date: 27-09-2023 12:10:00
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