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Release Date: 05/10/2023 10:32
Code(s): GLPROP     PDF:  
Wrap Text
Distribution Announcement - GLPROP

CoreShares Index Tracker Managers (RF) Proprietary Limited
Coreshares Global Property ETF
Share Code:GLPROP

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 six months ended 30 September 2023.

The following dates are of importance with regards to the distribution

Last day to trade cum distribution:                                                                                                                      Tuesday, 10 October 2023
Ex-date:                                                                                                                                               Wednesday, 11 October 2023
Record date:                                                                                                                                              Friday, 13 October 2023
Payment date:                                                                                                                                             Monday, 16 October 2023

An aggregated amount of 57.79999 cents per security is declared.

The nature and source of the distribution is explained in the following table:

GLPROP                                            Dividend                 Interest      Interest             TOTAL
Source                                            Foreign Not SA listed    Local         Foreign
Net Distribution Reinvested                       No                       No            No
Source of Funds (Country Code)                    Table 1                  ZA            US
Subject to Foreign Withholding tax                Yes                      No            No
 Gross Foreign Rate (cents per unit)               74.29538                            -0.00458
 Foreign Tax % withheld at source                  22.99584%
 Foreign Tax amount per unit                       17.08485
 DTA with Source Country                           Table 1
 Foreign Tax Reclaim %
 Portfolio/Management Cost
 Interest Expense
 Other Costs
 Gross ZA Distribution (Cents per unit)            57.21053             0.59404         -0.00458             57.79999
                                       Applicable to non-exempt South African Shareholders
 Gross Local Rate (cents per unit)                 57.21053             0.59404         -0.00458
 SA Withholding Tax %
 SA Withholding Tax amount per unit
 Local Net Rate                                    57.21053             0.59404         -0.00458              57.79999
Table 1
Country                                           ISO Code              Split        Foreign Tax % witheld at source      DTA with Source Country
United States                                     US                    68.16285%                    30.03575%                   30.03575%
Great Britain                                     GB                     1.20853%                    20.05836%                    0.00000%
Hong Kong                                         HK                     9.43924%                     0.00000%                    0.00000%
China                                             CN                     3.75583%                     1.75351%                    0.00000%
Japan                                             JP                     6.08985%                    15.31491%                   15.31491%
Australia                                         AU                     2.71967%                    11.19376%                   11.19376%
Singapore                                         SG                     1.30685%                    16.31735%                   16.31735%
Switzerland                                       CH                     1.34173%                    34.99960%                   34.99960%
Denmark                                           DE                     5.00957%                     1.05699%                    0.00000%
France                                            FR                     0.96587%                    25.00000%                   25.00000%

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.

Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents and for non-residents it is subject to 20% SA withholding tax.

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.

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: 05 October 2023

Sponsor : Grindrod Bank Limited

Date: 05-10-2023 10:32:00
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