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CORESHARES INDEX TRACKER MANAGERS (RF) PROPRIETARY LIMITED - Distribution Announcement - GLODIV

Release Date: 07/07/2022 08:32
Code(s): GLODIV     PDF:  
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Distribution Announcement - GLODIV

CoreShares Index Tracker Managers (RF) Proprietary Limited
Coreshares Global Dividend ETF
Share Code:GLODIV
ISIN:ZAE000254249

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.

DISTRIBUTION ANNOUNCEMENT

Holders of the security are advised that a distribution will be made in respect of the six months ended 30 June 2022

The following dates are of importance with regards to the distribution

Last day to trade cum distribution:                                                                                                 Tuesday, 12 July 2022
Ex-date:                                                                                                                          Wednesday, 13 July 2022
Record date:                                                                                                                         Friday, 15 July 2022
Payment date:                                                                                                                        Monday, 18 July 2022

An aggregated amount of 13.38997 cents per security is declared.

The nature and source of the distribution is explained in the following table:

GLODIV                                       Dividend                     Interest              Interest         TOTAL
Source                                       Foreign Not SA listed        Local                 Foreign
Net Distribution Reinvested                   No                           No                    No
Source of Funds (Country Code)                Table 1                      ZA                    US
Subject to Foreign Withholding tax            Table 1                      No                    No
Gross Foreign Rate (cents per unit)               16.75619
Foreign Tax % withheld at source             Table 1
Foreign Tax amount per unit                        3.47165
DTA with Source Country
Foreign Tax Reclaim %
Portfolio/Management Cost
Interest Expense
Other Costs
Gross ZA Distribution (Cents per unit)              13.28454                0.11146             - 0.00603     13.38997
                                    Applicable to non-exempt South African Shareholders
Gross Local Rate (cents per unit)                   13.28454                0.11146             - 0.00603
SA Withholding Tax 
SA Withholding Tax amount per unit
Local Net Rate                                       13.28454                0.11146            - 0.00603     13.38997

Table 1
                                                                                                       Foreign Tax %
Country                                       ISO Code                       Split                     withheld at source
United States                                 US                               52.32132%               28.25394%
Great Britain                                 GB                               24.82014%                0.00000%
Ireland                                       IE                                3.28625%               20.42858%
Canada                                        CA                                3.90220%               25.00076%
Jersey                                        JE                                1.48775%                0.00000%
Switserland                                   CH                                6.73166%               35.00093%
Denmark                                       DK                                0.61726%               26.99410%
Netherlands                                   NL                                0.36882%               15.00000%
Belgium                                       BE                                0.45876%               29.99870%
Sweden                                        SE                                0.53902%               30.00443%
Denmark                                       DE                                3.25217%               26.37538%
France                                        FR                                1.04552%               25.00143%
Norway                                        NO                                1.16912%               24.99745%

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.



Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents and for non-residents it is subject to 20% SA withholding tax.
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.

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: 07 July 2022

Sponsor : Grindrod Bank Limited

Date: 07-07-2022 08:32:00
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