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Distribution announcement - CSP500
CoreShares Index Tracker Managers (RF)
Proprietary Limited
Coreshares S&P 500 ETF
Share code: CSP500
ISIN: ZAE000268694
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 September 2019
The following dates are of importance with
regards to the distribution:
Last day to trade cum Tuesday, 08 October
distribution: 2019
Ex-date: Wednesday, 09
October 2019
Record Friday, 11 October
date: 2019
Payment Monday, 14 October
date: 2019
An aggregated amount of 28.70511 cents per
security is declared.
The nature and source of the distribution is
explained in the following table:
Dividend/ Foreign / Gross distribution Subject Withholdi Net distribution
Interest Local (cents per unit) to ng tax (%) (cents per unit)
withholdi
ng tax
(Yes/No)
Dividend Foreign 28.56746 No
28.56746
Interest Local 0.13765 No
0.13765
TOTAL 28.70511
28.70511
Foreign Dividend
Calculation
Gross Foreign Dividend
28.86224
Less: Foreign withholding -
tax held at source 0.29478
Net Foreign Dividend
28.56746
Source of funds: various companies from around the world that are
constituents of the benchmark index.
Average dividend withholding tax rate, already 1.02133%
withheld at source
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: 03 October 2019
Sponsor
Grindrod Bank Limited
Date: 03/10/2019 01:39:00
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