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Distribution Finalisation Announcement Quarter End 30 June 2024- STXMAG
SATRIX COLLECTIVE INVESTMENT SCHEME 2
SATRIX MULTI ASSET PASSIVE PORTFOLIO SOLUTIONS GROWTH ETF
JSE code: STXMAG
ISIN code: ZAE000318341
("SATRIXMAG")
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 FINALISATION ANNOUNCEMENT QUARTER END 30 JUNE 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 SATRIXMAG securities ('investors') recorded in the
register on Friday, 19 July 2024 in respect of the quarter ended 30 June 2024.
An aggregate amount of 34.16000 cents (R0.34160) per SATRIXMAG security is declared as follows:
Dividend
Alpha Code: STXMAG Dividend Dividend (64N > *Interest REIT Total
DTA)
Foreign SA Foreign SA
Distribution Source type Local Listed Listed Local Local
Net Distribution Reinvested Yes Yes Yes Yes Yes
Source of Funds (Country Code) ZA GB BE ZA ZA
Subject to Foreign Withholding tax No No Yes No No
Gross Foreign Rate (cents per unit) 2.33032 0.59114
Foreign Tax % withheld at source 30.00000%
Foreign Tax amount per unit 0.17734
DTA with Source Country 15%
Foreign Tax Reclaim % 15%
Portfolio/Management Cost 0.04114
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 19.09146 2.33032 0.37266 11.46733 0.89823 34.16000
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 19.09146 2.33032 0.55000 11.46733 0.89823
SA Withholding Tax % 20.00000% 20.00000% 5.00000% Note 1
SA Withholding Tax amount per unit 3.81829 0.46606 0.02750
Local Net Rate 15.27317 1.86426 0.34516 11.46733 0.89823 29.84815
Note 1: Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents and for
non-residents it is subject to 20% SA withholding tax. The Gross rate for non-residents is 0.89823 cents per unit and the net rate
is 0.71858 cents per unit.
Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended 30 June
2024 by the ETF to holders of SATRIXMAG securities:
Last day to trade "cum" distribution: Tuesday, 16 July 2024
Securities trade "ex" distribution: Wednesday, 17 July 2024
Record date: Friday, 19 July 2024
Payment date: Monday, 22 July 2024
The distribution will be paid on Monday, 22 July 2024 to all securities holders recorded in the register on Friday, 19 July 2024.
In accordance with the investment policy of SATRIXMAG the distribution (excluding the dividends tax as detailed above) will be
re-invested on behalf of investors through the purchase of securities comprising the MAPPS Growth Index in accordance with
the calculation methodology of the total return version of this Index, thereby increasing the net asset value of SATRIXMAG and,
proportionately, each SATRIXMAG 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
a written undertaking to inform the CSDP or broker, as the case may be, should the circumstances affecting the reduced rate
b)
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
11 July 2024
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Date: 11-07-2024 11:00:00
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