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CLOUD ATLAS (RF) (PROPRIETARY) LIMITED - Distribution Finalisation Announcement Quarter End 30 September 2017-AMIB50

Release Date: 29/09/2017 08:30
Code(s): AMIB50     PDF:  
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Distribution Finalisation Announcement Quarter End 30 September 2017-AMIB50

  Cloud Atlas (RF) Proprietary Limited
  The Cloud Atlas Collective Investment Scheme in Securities
  AMI Big50 ex-SA ETF
  JSE code: AMIB50
  ISIN: ZAE000242582
  (“AMI Big50 ex-SA”)

  A portfolio in the Cloud Atlas 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 SEPTEMBER 2017

  Investors are advised that the Manager and Trustee of Cloud Atlas (RF) Proprietary Limited have declared a
  distribution to holders of AMI Big50 ex-SA securities recorded in the register on Friday, 29 September 2017
  in respect of the quarter ended September 2017.

  An aggregated amount of 4.10032 ZAR cents (R 0.04100) per AMI Big50 ex-SA security is declared as follows:

  A distribution has been declared today, Thursday 28 September 2017 to holders of ETF securities ("investors")
  recorded in the register on Friday, 29 September 2017, for the quarter ended 30 September 2017 as follows:
                                                                               Gross                                             Net
                                                                            Distribution     Subject to                    Distribution
   Alpha                            Foreign/         Source of funds         (Cents per    Withholding tax   Withholding    (Cents per
   code        Dividend/Interest     Local                                     unit)           Yes/ No          Tax (%)        unit)
                                                      Botswana/Cote
                   Dividend         Foreign     d’Ivoire/Mauritius/Morocc    2.01895            Yes          20.00% (a)      1.61516
  AMIB50
                                                    o/Nigeria/Tanzania
               Other income (b)      Local             South Africa          2.21912            No              0.00%        2.21912
  Total                                                                      4.23807                                         3.83428
South African Dividend Withholding tax amount                                                                                0.26604
Aggregate distributable amount                                                                                               4.10032


  Notice is hereby given that the following dates are of importance in regard to the distribution for the
  month of September 2017 by the ETF to holders of AMIB50 securities:

   Last day to trade “cum” distribution:                               Tuesday,26 September 2017
   Securities trade “ex” distribution:                                 Wednesday,27 September 2017
   Record date:                                                        Friday,29 September 2017
  Payment date :                                                       Friday 6, October 2017

  The distribution will be paid on or before Friday, 06 October 2017 to all securities holders recorded on
  the register on Friday,29 September 2017.

    a) Withholding tax was deducted from foreign dividends at a blended rate of 6.82% was paid to the tax
       authorities in the counties stipulated above.
       Withholding tax payable to SARS at a blended rate is up to 13.18% of the Gross distributable amount.
       Certain entities are exempt from dividends as explained below:

          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.


    b) Other income is attributable to income accruals embedded in the NAV for new/ unit creations/redemptions
       during the period from 30 June 2017 to 29 September 2017.

        Sandton

        29 September 2017

        Sponsor:
        Vunani Corporate Finance

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