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

ASHWGB - Distribution Finalisation Announcement

Ashburton Management Company RF Proprietary Limited
Ashburton World Government Bond ETF
A portfolio in the Ashburton Collective Investment Scheme in Securities Exchange Traded Funds (the
“portfolio”) registered in terms of the Collective Investment Schemes Control Act, 45 of 2002
Share Code: ASHWGB
ISIN: ZAE000254413


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 the holders of the Ashburton
World Government Bond ETF securities for the quarter ended 31 January 2021.


The aggregate distribution will amount to 2.49279 cents per Ashburton World Government Bond ETF
security and is constituted as follows:
                                                                                              Foreign
                                                                         Subject to
                                                        Gross                               Withholding           Net
                                                                           Local
   Alpha                                Foreign/     Distribution                           Tax held at       Distribution
               Dividend/Interest                                        Withholding
   code                                  Local       (Cents per                            source (Cents      (Cents per
                                                                            tax
                                                         unit)                               per unit)            unit)
                                                                          Yes/ No


 ASHWGB             Interest             Local            0.00289            No                     0.00000         0.00289
                    Interest            Foreign           2.48990            No                     0.00000         2.48990
                                                          2.49279                                   0.00000         2.49279

*Source of funds: Sovereign bonds coupons which are constituents of the FTSE World Government Bond Index



Notice is hereby given that the following dates are of importance regarding the distribution for the quarter
ended 31 January 2021 to the holders of the Ashburton World Government Bond ETF securities:


Last day to trade “cum” distribution:                           Tuesday, 16 February 2021
Securities trade “ex” distribution:                           Wednesday, 17 February 2021
Record date:                                                     Friday, 19 February 2021
Payment date:                                                    Monday, 22 February 2021


Creations or redemptions from the fund will not be allowed during the period from 16 February 2021
to 19 February 2021 both days inclusive.


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.


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.

There are 17,134,683 Ashburton World Government Bond ETF securities in issue. The total distribution
amount payable is R 440,823.12.

Ashburton World Government Bond ETF Income Tax number is 2037/954/17/5.

A copy of the ETF issue document can be found at:

https://www.ashburtoninvestments.com/za/individual-investor/fund/ashburton-world-government-
bond-etf/zae000254413


09 February 2021

Johannesburg

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 09-02-2021 11:15:00
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