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FNB CIS MANCO (RF) (PROPRIETARY) LIMITED - FNBEQF - Distribution Finalisation Announcement

Release Date: 11/05/2022 11:55
Code(s): FNBEQF     PDF:  
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FNBEQF - Distribution Finalisation Announcement

FNB CIS Manco (RF) Proprietary Limited
FNB Global 1200 Equity FOF ETF (formerly known as Ashburton Global 1200 Equity FOF ETF)
A portfolio in the FNB 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: FNBEQF
ISIN: ZAE000303145
(“FNBGEQFOF”)


DISTRIBUTION FINALISATION ANNOUNCEMENT


The manager and trustees (namely FNB CIS Manco (RF) Proprietary Limited and Standard Chartered
Bank) have resolved to make a distribution to the holders of the FNB Global 1200 Equity FOF ETF securities
for the quarter ended 30 April 2022.


The aggregate distribution will amount to 15.17315 cents per FNB Global 1200 Equity FOF ETF security
and is constituted as follows:


            Alpha Code: FNBEQF                   Dividend               *Interest    Other Income    Total
 Distribution Source type                        Foreign Not SA listed   Local       Local
 Net Distribution Reinvested                     No                      No          No

 Source of Funds (Country Code)                  Table 1                 ZA          ZA
 Subject to Foreign Withholding tax              Yes                     No          No
 Gross Foreign Rate (cents per unit)             15.31443
 Foreign Tax % withheld at source                4.22320%
 Foreign Tax amount per unit                     0.64676
 DTA with Source Country
 Foreign Tax Reclaim %
 Portfolio/Management Cost
 Interest Expense

 Other costs
 Gross ZA Distribution (Cents per unit)          14.66767               0.01827      0.48721         15.17315
                               ***Applicable to non-exempt South African shareholders
 Gross Local Rate (cents per unit)               14.66767               0.01827      0.48721
 SA Withholding Tax %
 SA Withholding Tax amount per unit
 Local Net Rate                                  14.66767               0.01827      0.48721         15.17315


 Table 1
                  Country                  ISO Code                          Split
 Canada                                    CA                                   5%

 Australia                                 AU                                   8%
 United States                             US                                  60%
 Europe                                    EU                                  13%

 Asia                                                                          15%
                                                                              100%


*Source of funds: various companies from around the world that are constituents of the S&P Global
1200 Index.


**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 30 April 2022 to the holders of the FNB Global 1200 Equity FOF ETF securities:


Last day to trade “cum” distribution:                           Tuesday, 17 May 2022
Securities trade “ex” distribution:                           Wednesday, 18 May 2022
Record date:                                                     Friday, 20 May 2022
Payment date:                                                    Monday, 23 May 2022


Creations or redemptions from the fund will not be allowed during the period from 17 May 2022 to
20 May 2022, 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 22,080,000 FNB Global 1200 Equity FOF ETF securities in issue. The total dividend amount
payable is R 3,350,231.96.



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

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

https://www.fnb.co.za/share-investing/exchange-traded-funds.html

11 May 2022

Johannesburg


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

Date: 11-05-2022 11:55:00
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