CTOP50 201904040022A
Quarterly Distribution Announcement - CTOP50
CoreShares Index Tracker Managers (RF) Proprietary Limited
CoreShares Top 50 ETF
Share code: CTOP50
ISIN: ZAE000204327
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
QUARTERLY DISTRIBUTION ANNOUNCEMENT
Holders of the security are advised that a distribution will be made in respect of the quarter
ended 31 March 2019
The following dates are of importance with regards to the
distribution:
Last day to trade cum distribution: Tuesday, 09 April
2019
Ex-date: Wednesday, 10
April 2019
Record date: Friday, 12 April
2019
Payment date: Monday, 15 April
2019
An aggregated amount of 30.28348 cents per security is declared.
The nature and source of the distribution is explained in the
following table:
Dividend/ Interest Foreign / Gross Subject to Withholding Net distribution
Local distribution withholding tax (%) (cents per unit)
(cents per tax
unit) (Yes/No)
Dividend Local Yes 20
13.50165 10.80132
Dividend Foreign Yes 20
16.09409 12.87527
Dividend REIT Yes 20
0.35933 0.28746
Interest No
0.32841 0.32841
TOTAL
30.28348 24.29246
Further details are listed below:
Source of foreign taxable dividends
Great Britain 100.00%
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 April 2019
Sponsor
Grindrod Bank Limited
Date: 04/04/2019 11:22:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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