ASHGEQ Distribution Announcement
Ashburton Management Company RF Proprietary Limited
Ashburton Global 1200 Equity ETF
A portfolio in the Ashburton Collective Investment Scheme (“the portfolio”) registered in terms of the
Collective Investment Schemes Control Act, 45 of 2002
Share Code: ASHGEQ
ISIN: ZAE000249967
(“ASHGLOEQT”)
DISTRIBUTION FINALISATION ANNOUNCEMENT
The manager and trustees (namely Ashburton Management Company RF Proprietary Limited and
Standard Chartered Bank) have resolved to make a quarterly distribution to holders of Ashburton Global
1200 Equity ETF securities for the quarter ended 31 October 2019.
The aggregate distribution will amount to 16.74543 cents per Ashburton Global 1200 Equity ETF security
and is constituted as follows:
Amount
Gross Subject to SA Net
Foreign Available for
Alpha Foreign/ Distribution Withholding Withholding Distribution
Dividend/Interest Withholding Distribution
code Local (Cents per tax Tax (%) (Cents per
Tax (%) (Cents per
unit) Yes/ No unit)
unit)
ASHGEQ Dividend Foreign* 19.07381 Yes 12.60086 16.67035 0.00000** 16.67035
Interest Foreign 0.03155 No 0.00000 0.03155 0.00000 0.03155
Interest Local 0.04353 No 0.00000 0.04353 0.00000 0.04353
19.14889 16.74543 16.74543
*Source of funds: various companies from around the world that are constituents of the S&P Global 1200 Index.
**The foreign dividends are not subject to SA Dividend Tax, as none of the shares are listed in South Africa. South African
tax residents may be subject to SA Income Tax on these dividends.
Notice is hereby given that the following dates are of importance regarding the distribution for the quarter
ended 31 October 2019 by the ETF to holders of Ashburton Global 1200 Equity ETF securities:
Last day to trade “cum” distribution: Tuesday, 19 November 2019
Securities trade “ex” distribution: Wednesday, 20 November 2019
Record date: Friday, 22 November 2019
Payment date: Monday, 25 November 2019
Creations or redemptions from the fund will not be allowed during the period from 20 November
2019 to 22 November 2019, both days inclusive.
Withholding Tax on Interest (WTI) came into effect on 1 March 2015.
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.
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.
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
following forms to their Central Securities Depository Participant (“CDSP”) or broker, as the case
may be in respect of its participatory interest:
a) a declaration that the distribution is exempt from dividends tax; and
b) a written undertaking to inform their CSDP or broker, as the case may be, 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, to arrange for the
abovementioned documents to be submitted prior to payment of the distribution, if such
documents have not already been submitted.
Additional information:
The dividend distribution as outlined above is subject to the amendment to Dividends Tax that was
introduced with effect from 22 February 2017. The dividend, as defined in the Income Tax Act of 1962, is
payable from dividends accumulated in the fund. The South African Dividend Tax rate of 20% has been
applied to both local and foreign dividends.
There are 11,849,000 Ashburton Global 1200 Equity ETF securities in issue. The total dividend amount
payable is R 1,984,165.07.
Ashburton Global 1200 Equity ETF Income Tax number is 3356/058/17/6.
A copy of the ETF issue document can be found at
https://www.ashburtoninvestments.com/docs/default-source/document-library/etf-related-
documents/ashburton-global-1200-equity-etf/memorandum_supplement_ashburton_global1200_etf.pdf
13 November 2019
Johannesburg
Date: 13/11/2019 12:30:00
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