ASHBURTON MANAGEMENT COMPANY (RF) PROPRIETARY LIMITED - Distribution Finalisation Announcement ASHGEQ

Release Date: 23/08/2018 15:30
Code(s): ASHGEQ
 
Wrap Text
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
ISIN: ZAE000249967
(“ASHGLOEQT”)

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
                                                                   12.51094                                 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.

Additional information:

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
http://www.ashburtoninvestments.com/za/individual-investor/investment-range/exchange-traded-
funds/ashburton-global-1200-etf

23 August 2018
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

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