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Special distribution announcement - PTXSPY
CoreShares Index Tracker Managers (RF)
Proprietary Limited
CoreShares PropTrax SAPY ETF
Share code: PTXSPY
ISIN: ZAE000101911
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
SPECIAL DISTRIBUTION ANNOUNCEMENT
Holders of the security are advised that a special distribution will be made
The following dates are of importance with
regards to the distribution:
Last day to trade cum Tuesday, 29 October
distribution: 2019
Ex-date: Wednesday, 30 October
2019
Record Friday, 01 November
date: 2019
Payment Friday, 08 November
date: 2019
An aggregated amount of 108.51413 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 unit) tax
(Yes/No)
Dividend Foreign Yes 20
29.98944 23.99155
Dividend Foreign (S64N No
rebate) 5.45872 5.45872
Dividend REIT Yes 20
72.49179 57.99343
Interest No
0.57418 0.57418
TOTAL
108.51413 88.01788
Further details are listed
below:
Source of foreign taxable
dividends
British Virgin Islands 17.41%
Isle of Man 82.59%
TOTAL 100.00%
Source of foreign non-
taxable dividends (S64N)
Netherlands 100.00%
Calculation of the non-taxable Net Foreign
Dividend (S64N rebate)
Gross
dividend 6.42202
Foreign dividend withholding -0.96330
tax
Distributable non taxable
dividend (S64N rebate) 5.45872
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: 31 October 2019
Sponsor
Grindrod Bank Limited
Date: 31/10/2019 10:01:00
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