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CORESHARES INDEX TRACKER MANAGERS (RF) PROPRIETARY LIMITED - Quarterly Distribution Announcement

Release Date: 04/07/2019 08:35
Code(s): GLODIV     PDF:  
Wrap Text
Quarterly Distribution Announcement

CoreShares Index Tracker Managers (RF) Proprietary Limited                                                                                 
CoreShares Global Dividend ETF                                                   
Share code: GLODIV                                                               
ISIN: ZAE000254249 
                                                                                

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  
                                                                               
                                                                                    
DISTRIBUTION 
ANNOUNCEMENT 
Holders of the security are advised that a distribution will be made in respect of the six months ended 30 
June 2018 

The following dates are of importance with regards to the distribution: 
Last day to trade cum                                                            Tuesday, 09 July 2019 
distribution: 
Ex-date:                                                                         Wednesday, 10 July 2019 
Record date:                                                                     Friday, 12 July 2019 
Payment date:                                                                    Monday, 15 July 2019 

An aggregated amount of 10.22413 cents per security is 
declared. 
The nature and source of the distribution is explained in the following table: 

Dividend/ Foreign / Local         Gross           Subject to  Withholding Net distribution (cents 
Interest                           distribution    withholding tax (%)     per unit) 
                                    (cents per      tax 
                                    unit)           (Yes/No) 
Dividend    Foreign (S64N         10.07180        No                          10.07180  
             rebate) 
Interest                          0.15233         No                          0.15233  
TOTAL                             10.22413                                    10.22413  

Further details are listed below: 
Source of foreign taxable dividends 
Great Britain                     41.74% 
Netherlands                       0.85% 
Switzerland                       1.61% 
Ireland                           51.59% 
United States                     0.03% 
Spain                             4.19% 
TOTAL                             100.00% 



Source of foreign non-taxable dividends (S64N)                                    
Switzerland                        5.16% 
                                                                                      
    Ireland                        1.30%                                           
    United States 
                                   74.86%                                          
    France                          5.15%                                           
    Germany                         2.05%                                           
    Belgium                         2.05%                                           
    Denmark                         2.27%                                           
    Canada                          7.17%                                           
    TOTAL 
                                    100.00% 
                                                                                      
                                                                                       
    Calculation of the non-taxable Net Foreign Dividend (S64N 
    rebate) 
                                                                                    

    Gross dividend                                    12.43230  
    Foreign dividend withholding                      -2.36050  
    tax 
    Distributable non taxable dividend (S64N          10.07180  
    rebate) 
 

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: 04 July 2019 

Sponsor 

Grindrod Bank Limited 

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