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

Release Date: 14/02/2022 17:08
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


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 31 January 2022.

The aggregate distribution will amount to 20.70578 cents per FNB Global 1200 Equity FOF ETF security
and is constituted as follows:

      Alpha Code: FNBEQF                 Dividend          *Interest       *Interest                          Total
                                     Foreign Not SA
 Distribution Source type                               Local            Foreign         Local
 Net Distribution Reinvested         No                 No               No              No
 Source of Funds (Country Code)      Table 1            ZA               US              ZA
 Subject to Foreign Withholding
                                     Yes                No               No              No
 Gross Foreign Rate (cents per
                                     21.17509                             0.00772
 Foreign Tax % withheld at source    5.33468%
 Foreign Tax amount per unit         1.12962
 DTA with Source Country
 Foreign Tax Reclaim %
 Portfolio/Management Cost
 Interest Expense
 Other costs
 Gross ZA Distribution (Cents
                                      20.04547       0.00883        0.00772                0.64376           20.70578
 per unit)
                   ***Applicable to non-exempt South African shareholders
 Gross Local Rate (cents per unit)   20.04547           0.00883          0.00772         0.64376
 SA Withholding Tax %
 SA Withholding Tax amount per
 Local Net Rate                      20.04547           0.00883          0.00772        0.64376           20.70578

 Table 1
                  Country                   ISO Code                         Split
 Canada                                      CA                                 3.24%
 Latin America                                                                  9.74%
 Australia                                   AU                                 3.38%
 United States                               US                                49.00%
 Europe                                      EU                                23.86%
 Asia                                                                          10.79%

*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 31 January 2022 to the holders of the FNB Global 1200 Equity FOF ETF securities:

Last day to trade “cum” distribution:                        Tuesday, 22 February 2022
Securities trade “ex” distribution:                        Wednesday, 23 February 2022
Record date:                                                   Friday, 25 February 2022
Payment date:                                                  Monday, 28 February 2022

Creations or redemptions from the fund will not be allowed during the period from 22 February 2022
to 25 February 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 20,880,000 FNB Global 1200 Equity FOF ETF securities in issue. The total dividend amount
payable is R 4,323,366.64.

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:

14 February 2022

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

Date: 14-02-2022 05:08:00
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