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CLOUD ATLAS (RF) PROPRIETARY LIMITED - CANCELLATION OF S394547 Distribution Finalisation Announcement Quarter Ended 31 December 2017-AMIB50

Release Date: 23/01/2018 10:17
Code(s): AMIB50     PDF:  
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CANCELLATION OF S394547 Distribution Finalisation Announcement Quarter Ended 31 December 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 ENDED 31 DECEMBER 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, 26 January 2018
  in respect of the quarter ended 31 December 2017.

  An aggregated amount of 9.23827 ZAR cents (R 0.09238) per AMI Big50 ex-SA security is declared as follows:

  A distribution was declared on, Friday 19 January 2018 to holders of ETF securities ("investors") recorded
  in the register on Friday, 26 January 2018, for the quarter ended 31 December 2017 as follows:
                                                                            Gross
                                                                         Distribution    Subject to                              Net
   Alpha                         Foreign/        Source of funds          (Cents per    Withholding   Withholding Tax   Distribution (Cents
   code      Dividend/Interest    Local                                     unit)       tax Yes/ No          (%)             per unit)
                                               Botswana/Egypt/Cote
                                            D’ivoire/Kenya/Mauritius/                                     8.75350%
                                                                                         Yes (a)
                                            Morocco/Nigeria/Tanzania/                                    (0.88625)
  AMIB50        Dividend         Foreign                                  10.12452                                          9.23827 (a)
                                                     Zimbabwe
                                                                                                         11.24650%
                                                  SA DWT amount                          Yes (a)
                                                                                                         (1.13865)
Total                                                                     10.12452                                            9.23827


  Notice is hereby given that the following dates are of importance in regard to the distribution for the
  quarter ended 31 December 2017 by the ETF to holders of AMIB50 securities:

   Last day to trade “cum” distribution:                                Tuesday,23 January 2018
   Securities trade “ex” distribution:                                  Wednesday,24 January 2018
   Record date:                                                         Friday,26 January 2018
   Payment date :                                                       Monday, 29 January 2018

  The distribution will be paid on Monday, 29 January 2018 to all securities holders recorded on the register
  on Friday, 26 January 2018.

    a) Withholding tax was deducted from foreign dividends at a blended rate of 8.75350% and was paid to the
       tax authorities in the counties stipulated above.
       Withholding tax payable to SARS at a blended rate is 11.24650% 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 newunit creations/redemptions
    during the period from 29 September 2017 to 29 December 2017.

Sandton

22 January 2018

Sponsor:
Vunani Corporate Finance

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