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Distribution Announcement -CTOP50
CoreShares Index Tracker Managers (RF) Proprietary Limited
Coreshares Top 50 ETF
Share Code:CTOP50
ISIN:ZAE000204327
A portfolio in the CoreShares Index Tracker Collective Investment Scheme registered as such in terms of
the Collective Investment Schemes Control Act, 45 of 2002, managed by CoreShares Index Tracker
Managers (RF) Proprietary Limited.
DISTRIBUTION ANNOUNCEMENT
Holders of the security are advised that a distribution will be made in respect of the three months ended
30 June 2021.
The following dates are of importance with regards to the distribution
Last day to trade cum distribution: Tuesday, 13 July 2021
Ex-date: Wednesday, 14 July 2021
Record date: Friday, 16 July 2021
Payment date: Monday, 19 July 2021
An aggregated amount of 11.98000 cents per security is declared.
The nature and source of the distribution is explained in the following table:
Gross ZA Net
Distribution Subject to Distribution
Dividend/ (Cents per Withholding Withholding (Cents per
Interest Foreign/ Local unit) tax Yes/ No Tax (%) unit)
Dividend Local 9,51000 Yes 20 7,60800
Dividend Foreign Dual 1,59000 Yes 20 1,27200
Dividend Foreign Dual(S64N rebate) 0,08000 Yes Note 1 0,07399
Dividend REIT 0,76000 Yes 20 0,60800
Interest Local 0,04000 No 0,04000
TOTAL 11,98000 9,60199
Source of foreign taxable dividends
Great Britain 100,00%
TOTAL 100,00%
Source of foreign non-taxable dividends (received from dual listed companies - S64N)
Belgium 100,00%
TOTAL 100,00%
Note 1. Calculation of the Net Foreign Dividend (S64N rebate)
Gross dividend 0,13429
Less: Foreign dividend withholding tax -0,04029
Less portfolio costs -0,01401
Gross ZA Dividend 0,08000
ZA Dividend withholding tax payable* -0,00601
Net dividend 0,07399
*Depository receipt holders who are not exempt from the South African dividends tax will be subject to a
rate of 5 percent South African tax because of the credit available in respect of the foreign withholding
tax already withheld at source (S64N rebate).
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
Central Securities Depository Participant (CSDP) or broker with the following:
a) a declaration that the distribution is exempt from dividends tax; and
b) a written undertaking to inform their CSDP or broker, 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, to arrange for the abovementioned documents to be
submitted prior to payment of the distribution, if such documents have not already been submitted.
Withholding Tax on Interest (WTI) came into effect on 1 March 2015.
Investors are advised that to the extent that the distribution amount comprises 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.
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 in respect of its participatory
interest:
a) a declaration that the dividend is subject to a reduced rate because of the application of a DTA; and
b) a written undertaking to inform the CSDP or broker 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 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.
Foreign dividends received are subject to normal tax and are exempt from SA dividends tax.
Date of announcement: 08 July 2021
Sponsor : Grindrod Bank Limited
Date: 08-07-2021 09:05:00
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