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Quarterly Distribution Announcement - LVLTRX
CoreShares Index Tracker Managers (RF) Proprietary Limited
CoreShares LowVolTrax ETF
Share code: LVLTRX
ISIN: ZAE000190112
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
QUARTERLY DISTRIBUTION ANNOUNCEMENT (Date of announcement: 05 April 2018)
Holders of the security are advised that a distribution will be made in respect of the quarter ended 31 March
2018
The following dates are of importance with regards to the distribution:
Last day to trade cum distribution: Tuesday, 10 April 2018
Ex-date: Wednesday, 11 April 2018
Record date: Friday, 13 April 2018
Payment date: Monday, 16 April 2018
An aggregated amount of 28.51167 cents per security is declared.
The nature and source of the distribution is explained in the following table:
Gross Subject to
distribution withholding
Dividend/ (cents per tax Withholding Net distribution (cents per
Interest Foreign / Local unit) (Yes/No) tax (%) unit)
Dividend Local 8.58973 Yes 20 6.87178
Dividend Foreign 3.90339 Yes 20 3.12271
Dividend Foreign (S64N rebate) 0.71498 No 0.71498
Dividend REIT 12.44626 Yes 20 9.95701
Interest 2.85731 No 2.85731
TOTAL 28.51167 23.52379
Further details are listed below:
Source of foreign taxable dividends
British Virgin Islands 31.59%
Great Britain 38.04%
Isle of Man 30.38%
TOTAL 100.00%
Source of foreign non-taxable dividends (S64N)
Great Britain 100.00%
TOTAL 100.00%
Calculation of the non-taxable Net Foreign Dividend (S64N rebate)
Gross dividend 0.79442
-
Foreign dividend withholding tax 0.07944
Distributable non taxable dividend (S64N
rebate) 0.71498
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.
Date of announcement: 05 April 2018
Sponsor
Grindrod Bank Limited
Date: 05/04/2018 12:36:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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