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


Release Date: 07/10/2021 13:50
Code(s): CSPROP     PDF:  
Wrap Text
Distribution announcement - CSPROP

CoreShares Index Tracker Managers (RF) Proprietary Limited
Coreshares SA Property Income ETF
Share Code:CSPROP

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.


Holders of the security are advised that a distribution will be made in respect of the three months ended 30 September 2021

The following dates are of importance with regards to the distribution

Last day to trade cum distribution:                                                                                       Tuesday, 12 October 2021
Ex-date:                                                                                                                Wednesday, 13 October 2021
Record date:                                                                                                                Friday, 15 October 2021
Payment date:                                                                                                             Monday, 18 October 2021

An aggregated amount of 18.23999 cents per security is declared.

The nature and source of the distribution is explained in the following table:
                                                                     Dividend (64N =/<
CSPROP                                       Dividend                DTA)                     Interest                REIT             TOTAL
Source                                       Foreign SA Listed       Foreign SA Listed        Local                   Local
Net distribution reinvested                  No                      No                       No                      No
Source of Funds (Country Code)               Table 1                 GB                       ZA
Subject to Foreign Withholding tax           No                      Yes                      No                      No
Gross Foreign Rate (cents per unit)         6,18386                 0,07740
Foreign Tax % withheld at source                                      10,00%
Foreign Tax amount per unit                                         0,00774
DTA with Source Country                      Table 1                  15,00%
Foreign Tax Reclaim %                                                  0,00%
Portfolio/Management Cost                                            0,00405
Interest Expense
Other costs

Gross ZA Distribution (Cents per unit)        6,18386                0,06561                  0,05540           11,93512           18,23999
                                         Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit)             6,18386                0,07335                  0,05540           11,93512
SA Withholding Tax %                            20,00%                 10,00%                    0,00%              0,00%
SA Withholding Tax amount per unit             1,23677                0,00733                  0,00000            0,00000
Local Net Rate                                 4,94709                0,05828                  0,05540           11,93512          16,99588

Table 1
                                                                                                                     DTA with
                                                                                              Foreign Tax %          Source        SA Withholding
Country                                      ISO Code               Split                     withheld at source     Country       Tax %
Guernsey                                     GG                      7,43%                     0,00%                 0,00%        20,00%
Isle of Man                                  IM                      26,26%                    0,00%                 0,00%        20,00%
Mauritius                                    MU                      29,11%                    0,00%                10,00%        20,00%
Virgin Islands                               VG                       37,20%                    0,00%                0,00%        20,00%
Total                                                                100,00%

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

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. The net rate for non-residents after SA withholding tax is 9.54810.

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

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 October 2021

Sponsor : Grindrod Bank Limited

Date: 07-10-2021 01:50:00
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