Distribution Finalisation Announcement – ASHGEQ
Ashburton Management Company RF Proprietary Limited
Ashburton Global 1200 Equity ETF
A portfolio in the Ashburton Collective Investment Scheme (“the portfolio”) registered in terms of the
Collective Investment Schemes Control Act, 45 of 2002
Share Code: ASHGEQ
DISTRIBUTION FINALISATION ANNOUNCEMENT
The manager and trustees (namely Ashburton Management Company RF Proprietary Limited and
Standard Chartered Bank) have resolved to make a quarterly distribution to holders of Ashburton Global
1200 Equity ETF securities for the quarter ended 31 July 2018.
The aggregate distribution will amount to 12.51094 cents per Ashburton Global 1200 Equity ETF security
and is constituted as follows:
Alpha Dividend/Interest Foreign/ Gross Subject to Net
Code Local Distribution Local Distribution
(Cents per unit) Withholding (Cents per
Yes/ No unit)
ASHGEQ Interest Local 0.00000 No 0.00000
Dividend Foreign 12.51094 No 12.51094
*Source of funds: various countries around the world out of a fund that tracks the S&P Global 1200 Index.
1. The net distribution amount of 12.51094 cents per ASHGEQ security is calculated as follows:
Gross Foreign Dividend 17.34719
Less: Foreign withholding tax held at source (27.87916%) 4.83625
Net Distribution to local unit holders 12.51094
Notice is hereby given that the following dates are of importance regarding the distribution for the quarter
ended 31 July 2018 by the ETF to holders of Ashburton Global 1200 Equity ETF securities:
Last day to trade “cum” distribution: Tuesday, 28 August 2018
Securities trade “ex” distribution: Wednesday, 29 August 2018
Record date: Friday, 31 August 2018
Payment date: Monday, 3 September 2018
Creations or redemptions from the fund will not be allowed during the period from 23 August 2018
to 31 August 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 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.
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 (“CDSP”) 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, to arrange for the
abovementioned documents to be submitted prior to payment of the distribution, if such
documents have not already been submitted.
The dividend distribution as outlined above is subject to the amendment to Dividends Tax that was
introduced with effect from 22 February 2017. The dividend, as defined in the Income Tax Act of 1962, is
payable from dividends accumulated in the fund. The South African Dividend Tax rate of 20% has been
applied to both local and foreign dividends.
There are 6,860,000 Ashburton Global 1200 Equity ETF securities in issue. The total dividend amount
payable is R 858,250.34.
Ashburton Global 1200 Equity ETF Income Tax number is 3356/058/17/6.
A copy of the ETF issue document can be found at
23 August 2018
Sponsor: Bridge Capital Advisors Proprietary Limited
Date: 23/08/2018 03:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Email this JSE Sens Item to a Friend.