Distribution Announcement - DIVTRX
CoreShares Index Tracker Managers (RF) Proprietary Limited
Coreshares DivTrax ETF
Share code: DIVTRX
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
Holders of the security are advised that a distribution will be made in respect of the three months
ended 30 June 2020.
The following dates are of importance with regards to the distribution
Last day to trade cum distribution: Tuesday, 07 July 2020
Ex-date: Wednesday, 08 July 2020
Record date: Friday, 10 July 2020
Payment date: Monday, 13 July 2020
An aggregated amount of 46.18000 cents per security is declared.
The nature and source of the distribution is explained in the following table:
Dividend/Interest Foreign/ Local Gross Subject to Withholding Net
Distribution Withholding Tax (%) Distribution
(Cents per tax Yes/ (Cents
unit) No per unit)
Dividend Local 45.94000 Yes 20 36.75200
Interest Local 0.24000 No 0.24000
TOTAL 46.18000 36.99200
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
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
a) a declaration that the dividend is subject to a reduced rate because of the application of a DTA;
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
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: 02 July 2020
Grindrod Bank Limited
Date: 02-07-2020 01:01:00
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