To view the PDF file, sign up for a MySharenet subscription.


Release Date: 10/11/2020 11:16
Code(s): ASHEQF     PDF:  
Wrap Text
ASHEQF - Distribution Finalisation Announcement

Ashburton Management Company RF Proprietary Limited
Ashburton Global 1200 Equity FOF ETF
A portfolio in the Ashburton Collective Investment Scheme in Securities Exchange Traded Funds (“the
portfolio”) registered in terms of the Collective Investment Schemes Control Act, 45 of 2002
Share Code: ASHEQF
ISIN: ZAE000289872


The manager and trustees (namely Ashburton Management Company RF Proprietary Limited and
Standard Chartered Bank) have resolved to make a distribution to the holders of the Ashburton Global 1200
Equity FOF ETF securities for the period 1 May 2020 to 31 October 2020.

The aggregate distribution will amount to 22.12775 cents per Ashburton Global 1200 Equity FOF ETF
security and is constituted as follows:
                                                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)
 ASHEQF         Dividend         Foreign*        23.38625         Yes           13.36910          20.25972      0.00000           20.25972
                Interest          Foreign         0.03438         No            0.00000            0.03438      0.00000            0.03438
                Interest           Local          0.02974         No            0.00000            0.02974      0.00000            0.02974
              Other Income         Local          1.80391         No            0.00000            1.80391      0.00000            1.80391
                                                 25.25428                                         22.12775                        22.12775

*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 period
ended 31 October 2020 to the holders of the Ashburton Global 1200 Equity FOF ETF securities:

Last day to trade “cum” distribution:                                Tuesday, 17 November 2020
Securities trade “ex” distribution:                               Wednesday, 18 November 2020
Record date:                                                            Friday, 20 November 2020
Payment date:                                                       Monday, 23 November 2020
Creations or redemptions from the fund will not be allowed during the period from 17 November
2020 to 20 November 2020, 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 15,619,000 Ashburton Global 1200 Equity FOF ETF securities in issue. The total dividend
amount payable is R 3,456,132.82.

Ashburton Global 1200 Equity FOF ETF Income Tax number is 3356/058/17/6.

A copy of the ETF issue document can be found at:

10 November 2020


Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 10-11-2020 11:16:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story