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SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement Quarter End 31 March 2021 - STXPRO

Release Date: 09/04/2021 17:44
Code(s): STXPRO     PDF:  
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Distribution Finalisation Announcement Quarter End 31 March 2021 - STXPRO

SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX PROPERTY PORTFOLIO
JSE code: STXPRO
ISIN Code: ZAE0000240131
("Satrix Prop")

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 31 MARCH 2021

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 Prop securities("investors")recorded in
the register on Friday, 16 April 2021 in respect of the quarter ended 31 March 2021.

An aggregate amount of 9.99000 cents (R0.09900) per Satrix Property security constituted as follows:

  Alpha   Dividend/     Foreign/     Source of       Gross         Foreign           Amount     Subject to SA   SA Dividends     Net
  code    Interest       Local         funds      distribution   Withholding    available for   Dividends tax     Tax (%)    Distribution
                                                   (Cents per     (Cents per     distribution      Yes/ No                    (Cents per
                                                     unit)          unit)        (Cents per                                     unit)
                                                                                    unit)
 STXPRO                                  UK
          Dividend       Foreign       16.4%          3.20496             n/a        3.20496         20             n/a          2.56397
                      (Dual listed) Isle of Man
                                       83.6%

          Dividend      Foreign         UK            0.06916       (0.01436)        0.05480         Yes            5            0.05134
                         (S64N)                                                                                  (Note 1)

          Dividend      Foreign     Switzerland        0.00675            n/a        0.00675         No             n/a          0.00675
                      S64N Rebate

          Dividend        REIT                        6.72349             n/a        6.72349         Yes            20           5.37879
                                                                                                                 (Note 2)

                                                                                     9.99000                                     8.00085

Note 1
NET FOREIGN DIVIDEND NOT TAXED (S64N REBATE)

Gross dividend                                                                         0.07178
Less portfolio costs                                                                  (0.00262)
Gross distribution                                                                     0.06916
Foreign withholding tax (20% of Gross dividend)*                                      (0.01436)
Amount available for distribution                                                      0.05480
SA Dividend withholding tax payable (5% on Gross distribution)*                       (0.00346)
Net Distributable                                                                      0.05134

* A 5% rebate is reclaimable from the UK’s HM Revenue & Customs, resulting in an effective UK withholding tax rate of 15%.
  Therefore, depository receipt holders who are not exempt from the South African dividends tax will be subject to an
  additional 5 percent South African dividends tax, after the application of the section 64N rebate.

  Those depository receipt holders who qualify for exemption from the South African tax (e.g. South African companies and
  non-residents of South Africa) must ensure that they have filed the relevant exemption forms with their brokers/ banks
  in order to ensure that no South African tax is withheld.

Note 2
Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents, and subject to 20%
withholding tax for non-residents

Notice is hereby given that the following dates are of importance in regard to the distribution for the quarter ended 31
March 2021 by the ETF to holders of Satrix Property securities:

Last day to trade “cum” distribution:                  Tuesday, 13 April 2021
Securities trade “ex” distribution:                    Wednesday, 14 April 2021
Record date:                                           Friday, 16 April 2021
Payment date:                                          Wednesday, 21 April 2021

The distribution will be paid on Wednesday, 21 April 2021 to all securities holders recorded in the register on Friday, 16
April 2021.

Withholding Tax on Interest (WTI) came into effect on 1 June 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

9 April 2021

Sponsor:
Vunani Sponsors

Date: 09-04-2021 05:44:00
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