SATRIX COLLECTIVE INVESTMENT SCHEME - Implementation of the Change to the Index and Distribution Methodology

Implementation of the Change to the Index and Distribution Methodology

SATRIX COLLECTIVE INVESTMENT
Satrix Value Equity ETF
Share code: STXVEQ
ISIN: ZAE000318325
("Satrix VEQ" or the "ETF")

A portfolio in the Satrix Collective Investment Scheme, registered
as such in terms of the Collective Investment Schemes Control Act,
45 of 2002

IMPLEMENTATION OF THE CHANGE TO THE INDEX AND DISTRIBUTION
METHODOLOGY

Holders of Satrix Value Equity securities are referred to the
communication sent out by the Satrix Collective Investment Scheme on
Monday, 18 December 2023 regarding the proposed change to the index
and distribution methodology applicable to the Satrix Value Equity
ETF.

The ballot closed on Friday, 31 January 2024, and the majority of
shareholders voted in favour of the change in terms of section 98 of
the CISCA.

Due to the change in distribution methodology, a final income
distribution and salient dates will be published separately. The
change in tracking the Satrix Value Index and the change in
distribution methodology from reinvesting to distributing has become
effective as from Thursday, 29 February 2024.

As per the SENS Announcement, the implementation of the Satrix
Value Index as the new index which the ETF tracks has had no effect
on either the number of issued Satrix Value Equity securities, or
the value of each Satrix V a l u e E q u i t y security.

There is however a difference in the closing index levels of the
NewFunds WITS Risk Controlled SA-Value Index South Africa Index and
the Satrix Value Index which required that an adjustment be made to
the amount that each Satrix Value Equity security represents of the
Satrix Value Index.

Therefore, to cater for the difference in the closing index levels a
factor of 1.16157("Adjustment Factor") was calculated.

Previously each Satrix Value Equity security tracking the NewFunds
WITS Risk Controlled SA-Value Index represented 1/10th of the index
level plus an amount which reflects a pro rata portion of any
accrued distribution amount within the portfolio.

Post the implementation of the new index, each Satrix Value Equity
security tracking the Satrix Value Index will now represent 1/100th
of the index level multiplied by the Adjustment Factor of 1.16157
(the adjustment factor) plus an amount which reflects a pro rata
portion of any accrued distribution amount within the portfolio.

29 February 2024

JSE Sponsor
Vunani Sponsors

Date: 29-02-2024 01:10:00
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