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SYGNIA ITRIX (RF) PROPRIETARY LIMITED - Distribution Announcement Period Ended 31 December 2017 - SYGSW4

Release Date: 04/01/2018 08:30
Code(s): SYGSW4     PDF:  
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Distribution Announcement – Period Ended 31 December 2017 - SYGSW4

The Sygnia Itrix Collective Investment Scheme
Sygnia Itrix SWIX 40 ETF
JSE code: SYGSW4
ISIN: ZAE000251344
(“SYGSW4”)

A portfolio in the Sygnia Itrix Collective Investment Scheme in
Securities, registered as such in terms of the Collective Investment
Schemes Control Act, 45 of 2002.

DISTRIBUTION FINALISATION ANNOUNCEMENT - PERIOD ENDED 31 DECEMBER 2017

The manager and trustee have resolved to make a distribution to holders of
SYGSW4 securities recorded in the register on Friday, 29 December 2017 in
respect of the period ended 31 December 2017.

An aggregated amount of ZAR 0.01739 (one point seven three nine three two
cents) per SYGSW4 security is declared as follows:

                                          Gross                                      Net
                                Source    Distribution   Subject to                  Distribution
Alpha    Dividend/   Foreign/   of        (Cents per     Withholding   Withholding   (Cents per
code     Interest    Local      funds     unit)          tax Yes/ No   Tax (%)       unit)
SYGSW4   Dividend    Local                     1.21622   Yes                   20%           0.97298
                     Foreign    United
SYGSW4   Dividend    Dual       Kingdom        0.07207   Yes                   20%           0.05766
                     Local
SYGSW4   Dividend    REIT                      0.45103   Yes                   20%           0.36082

                                               1.73932                                       1.39146

The distribution will be paid to holders on 15 January 2018.

 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
      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.


4 January 2018

Manager
Sygnia Itrix Collective Investment Scheme
Trustee
The Standard Bank of South Africa Limited
Sponsor
Vunani Corporate Finance

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