ASHINF Distribution Anouncement2020/01/14 15:30:28
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ASHINF Distribution Anouncement: Ashburton Management Company RF Proprietary Limited Ashburton Inflation ETF A portfolio in the Ashburton Collective Investment Scheme ('the portfolio') registered in terms of the Collective Investment Schemes Control Act, 45 of 2002 (Incorporated in the Republic of South Africa) (Date of incorporation: 20 May 2009) Share Code: ASHINF ISIN: ZAE000215331 ('ASHINFBND') DISTRIBUTION 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 InflationETF securities for the quarter ended 31 December 2019. The aggregate distribution will amount to 16.00345 cents per Ashburton Inflation ETF security and is constituted as follows: Gross Subject to Net *Withholding Alpha Foreign/ Distribution Withholding Distribution Dividend/Interest Tax (%) code Local (Cents per tax (Cents per unit) Yes/ No unit) ASHINF Interest Local 16.00345 No 0 16.00345 16.00345 16.00345 Notice is hereby given that the following dates are of importance regarding the distribution for the quarter ended 31 December 2019 by the ETF to holders of Ashburton Inflation ETF securities: Last day to trade 'cum' distribution: Tuesday, 21 January 2020 Securities trade 'ex' distribution: Wednesday, 22 January 2020 Record date: Friday, 24 January 2020 Payment date: Monday, 27 January 2020 Creations or redemptions from the fund will not be allowed during the period from 21 January 2020 to 24 January 2020, both days inclusive. The distribution is calculated after taking into account accrued expenses incurred by the fund for the previous quarter and thus represents a distribution net of fund expenses. *Withholding Tax on Interest (WTI) came into effect in April 2012 and amended 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. 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, as the case may be in respect of its participatory interest: a) a declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and b) a written undertaking to inform the CSDP or broker, as the case may be, should the circumstances affecting the reduced rate change or the beneficial owner ceases 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, as the case may be, 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. There are 16 034 948 Ashburton Inflation ETF securities in issue. The total distribution amount payable is R 2,566,145.33. Ashburton Inflation ETF Income Tax number is 0691/223/16/8. A copy of the ETF issue document can be found at http://www.ashburtoninvestments.com/za/individual- investor/investment-range/exchange-traded-funds/ashburton-inflation-etf 14 January 2020 Johannesburg Date: 14-01-2020 03:30:00 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. 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