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

Release Date: 15/05/2023 13:46
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 2023.


The aggregate distribution will amount to 22.02364 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
                                        listed
 Net Distribution Reinvested            No                    No                   No
 Source of Funds (Country Code)         Table 1               ZA                   US
 Subject to Foreign Withholding tax     Yes                   No                   No
 Gross Foreign Rate (cents per          22.85526              0.14079              0.00071
 unit)
 Foreign Tax % withheld at source       4.26%
 Foreign Tax amount per unit            0.97363
 DTA with Source Country
 Foreign Tax Reclaim %
 Portfolio/Management Cost
 Interest Expense
 Other costs
 Gross ZA Distribution (Cents per     21.88163           0.14079                     0.00071         22.02313
 unit)
                 ***Applicable to non-exempt South African shareholders
 Gross Local Rate (cents per unit)    21.88163             0.14079              0.00071
 SA Withholding Tax %
 SA Withholding Tax amount per unit
 Local Net Rate                       21.88163             0.14079              0.00071              22.02313
 Table 1
           Country                          ISO Code                              Split
 Canada                                     CA                                     5%
 Australia                                  AU                                     6%
 United States                              US                                     58%
 Europe                                     EU                                     16%
 Japan                                      JP                                     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 2023 to the holders of the FNB Global 1200 Equity FOF ETF securities:


Last day to trade “cum” distribution:                        Tuesday, 23 May 2023
Securities trade “ex” distribution:                        Wednesday, 24 May 2023
Record date:                                                  Friday, 26 May 2023
Payment date:                                                 Monday, 29 May 2023


Creations or redemptions from the fund will not be allowed during the period from 23 May 2023 to
26 May 2023, 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 21,260,000 FNB Global 1200 Equity FOF ETF securities in issue. The total dividend amount
payable is R 4,682,116.57.



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

15 May 2023
Johannesburg


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

Date: 15-05-2023 01:46:00
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