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Abridged Results as at 31 December 2017 - CSP500
CORESHARES GLOBAL INVESTMENTS PCC
INSTRUMENT: CORESHARES S&P 500 ETFETF
ABBREVIATED NAME: CoreSP500
SHARE CODE: CSP500
ISIN CODE: MU0519N00036
ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
31-Dec-2017 31-Dec-16
USD USD
INCOME
Dividend income 505 600 66 408
Unrealised gain on financial assets at fair value through profit or
loss 4 583 643 611 611
Realised gain on financial assets at fair value through profit or
loss 273 353 -
Realised gain on foreign exchange 603 -
5 363 199 678 019
EXPENSES
Bank charges - 120
Custody fees 7 641 -
Management fees 105 536 -
Brokerage fees 27 548 19 193
140 725 19 313
Profit before taxation 5 222 474 658 706
Taxation (14 889) (1 935)
Profit for the period 5 207 585 656 771
Other comprehensive income - -
Total comprehensive income for the period 5 207 585 656 771
STATEMENT OF FINANCIAL POSITION
31-Dec-2017 31-Dec-16
USD USD
ASSETS
Financial assets at fair value through profit or loss 39 912 967 13 864 343
Other receivables 160 343 57 280
Cash at bank 95 543 87 761
Total assets 40 168 853 14 009 384
LIABILITIES
Other payables 119 303 -
Tax liability 4 854 1 935
Total liabilities 124 157 1 935
Net assets attributable to holders of participating shares 40 044 696 14 007 449
STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO HOLDERS OF PARTICIPATING SHARES
USD
At 14 April 2016 -
Increase in net assets attributable to holders of participating shares 656 771
Issue of participating shares during the period 13 350 678
At 31 December 2016 14 007 449
Increase in net assets attributable to holders of participating shares 5 207 585
Issue of participating shares during the period 22 972 215
Redemption of participating shares during the period (1 592 119)
Dividend paid (550 434)
At 31 December 2017 40 044 696
STATEMENT OF CASH FLOWS
31-Dec-2017 31-Dec-16
USD USD
Cash flows from operating activities
Profit before taxation 5 222 474 658 706
Adjustments:
Realised gain on financial assets at fair value through profit or loss (273 353) -
Unrealised gain on financial assets at fair value through profit or
loss (4 583 643) (611 611)
Dividend income (505 600) (66 408)
Tax paid (11 970) -
Changes in working capital:
Other receivables 96 (96)
Other payables 119 303 -
Net cash used in operating activities (32 693) (19 409)
Cash flows from investing activities
Acquisition of investments (22 786 619) (13 252 732)
Proceeds from disposal of investment 1 594 991 -
Dividend received 402 441 9 224
Net cash used in investing activities (20 789 187) (13 243 508)
Cash flows from financing activities
Proceeds from issue of participating shares 22 972 215 13 350 678
Proceeds from disposal of shares -1 592 119 -
Dividend paid (550 434) 13 350 678
Net cash generated from financing activities 20 829 662 13 350 678
Net increase in cash and cash equivalents 7 782 87 761
Cash and cash equivalents at start of the period 87 761 -
Cash and cash equivalents at end of the period 95 543 87 761
The above Audited Abridged Financial Statements for the year ended 31 December 2017 have been prepared in
compliance with International Financial Reporting Standards.
The Board of Directors of CoreShares Global Investments PCC accepts full responsibility for the accuracy of the
information contained in these Abridged Financial Statements.
The full financial statements are available on www.coreshares.co.za
Sponsor: Grindrod Bank Limited
04 April 2018
Date: 04/04/2018 04:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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