NEWFUNDS COLLECTIVE INVEST SCHEME - GIVISA: Distribution and Re-Investment Announcement for the Quarter Ended 30 September 2018

Release Date: 11/10/2018 13:52
Code(s): GIVISA
 
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GIVISA: Distribution and Re-Investment Announcement for the Quarter Ended 30 September 2018

NEWFUNDS S&P GIVI SA TOP 50 INDEX ETF PORTFOLIO
Share code: GIVISA
ISIN: ZAE000205225


Portfolios in the NewFunds (RF) Proprietary Limited Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes
Control Act, 45 of 2002 and managed by NewFunds Proprietary Limited. (Registration Number 2005/034899/07)


DISTRIBUTION ANNOUNCEMENT FOR THE QUARTER ENDED 30 SEPTEMBER 2018
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 19 October 2018, for the quarter ended
30 September 2018 as follows:


       Alpha code                   Dividend/                  Foreign/                Gross            Subject to Withholding     *Withholding             Net
                                     Interest                   Local               Distribution                  tax                Tax (%)            Distribution
                                                                                  (Cents per unit)             Yes/ No                                (Cents per unit)



          GIVISA                    Interest                     Local                       0.30045             No                                             0.30045
                                    Dividend                     Local                      24.13564             Yes                    20                     19.30851
                                    Dividend                Foreign(CFR)*                    4.82082             No                                             4.82082
                                    Dividend                Foreign (Other)                 23.41577             Yes                    20                     18.73262
                                    Dividend                   REITs**                       4.55967             Yes                    20                      3.64774
                                                                                            57.23235                                                           46.81014


Further details are listed below:

Source of monetary funds subject to foreign dividend tax:
England                                                                                                                 94.55%
Netherlands                                                                                                              5.45%
                                                                                                                       100.00%
Source of foreign dividends not subject to dividend tax:
Switzerland                                                                                                            100.00%


Notice is hereby given that the following dates are of importance in regard to the distribution by the above ETF for the quarter ended 30 September 2018:

Declaration/ Finalisation date                                                Thursday, 11 October 2018
Last day to trade                                                             Tuesday, 16 October 2018
Ex distribution                                                               Wednesday, 17 October 2018
Record date                                                                   Friday, 19 October 2018
Payment date                                                                  Monday, 22 October 2018

The distribution will be paid on Monday, 22 October 2018 to all securities holders recorded on the register on Friday, 19 October 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.

*Investors should seek advice from their tax advisor on whether the tax and rate shown is applicable to them.

* COMPAGNIE FINANCIERE RICHMONT SA (CFR) is a Switzerland listed Company. The dividends received have been subject to a 20% withholding tax.

South African tax resident investors relating to REITs
** The dividend distribution by a REIT received by South African tax residents must be included in their gross income and will not be exempt in terms of the ordinary dividend
exemption in section 10(1)(k)(i) of the Income Tax Act No. 58 of 1962 (“the Act”) as a result of paragraph (aa) of the proviso thereto which provides that dividends distributed by a
REIT are not exempt from income tax.
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.


Additional information:
                                   Number                        Tax
                                 of securities                reference
                                   in issue                    number

GIVISA                             2,057,255                 9180010184

11 October 2018

Sponsor


Absa Bank Limited (acting through its Corporate and Investment Banking division)

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