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Special Distribution Finalisation Announcement For The 2 Months Ended 28 February 2024 - STXVEQ
SATRIX COLLECTIVE INVESTMENT SCHEME 2
SATRIX VALUE EQUITY ETF
JSE code: STXVEQ
ISIN code: ZAE000318325
("SATRIXVEQ")
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.
SPECIAL DISTRIBUTION FINALISATION ANNOUNCEMENT FOR THE 2 MONTHS ENDED 28 FEBRUARY 2024
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 SATRIXVEQ securities ('investors') recorded in the
register on Tuesday, 12 March 2024 in respect of the 2 months ended 28 February 2024.
An aggregate amount of 7.44000 cents (R0.07440) per SATRIXVEQ security is declared as follows:
Alpha Code: STXVEQ Dividend Dividend Dividend *Interest Total
Foreign SA Foreign SA
Distribution Source type Local Listed Listed Local
Net Distribution Reinvested Yes Yes Yes Yes
Source of Funds (Country Code) ZA GB BMG ZA
Subject to Foreign Withholding tax No No No No
Gross Foreign Rate (cents per unit) 2.34060 0.27606
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) 4.75754 2.34060 0.27606 0.06580 7.44000
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 4.75754 2.34060 0.27606 0.06580
SA Withholding Tax % 20.00000% 20.00000% 20.00000%
SA Withholding Tax amount per unit 0.95151 0.46812 0.05521
Local Net Rate 3.80603 1.87248 0.22085 0.06580 5.96516
Notice is hereby given that the following dates are of importance in regard to the distribution for the 2 months ended 28
February 2024 by the ETF to holders of SATRIXVEQ securities:
Last day to trade "cum" distribution: Thursday, 07 March 2024
Securities trade "ex" distribution: Friday, 08 March 2024
Record date: Tuesday, 12 March 2024
Payment date: Wednesday, 13 March 2024
The distribution will be paid on Wednesday, 13 March 2024 to all securities holders recorded in the register on Tuesday, 12
March 2024.
In accordance with the investment policy of SATRIXVEQ the distribution (excluding the dividends tax as detailed above) will be
re-invested on behalf of investors through the purchase of securities comprising the Absa Wits Risk-Controlled SA Value Index in
accordance with the calculation methodology of the total return version of this Index, thereby increasing the net asset value of
SATRIXVEQ and, proportionately, each SATRIXVEQ security.
*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.
Sandton
29 February 2024
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Date: 29-02-2024 02:17:00
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