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FNB500 - Distribution Finalisation Announcement
FNB CIS Manco (RF) Proprietary Limited
FNB S&P 500 Feeder 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: FNB500
ISIN: ZAE000331716
("FNBS&P500")
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 S&P 500 Feeder ETF securities for
the quarter ended 31 October 2024.
The aggregate distribution will amount to 31.62935 cents per FNB S&P 500 Feeder ETF security and is
constituted as follows:
Alpha Code: FNB500 Dividend *Interest Other Income Total
Distribution Source type Foreign Not SA listed Local Local
Net Distribution Reinvested No No No
Source of Funds (Country Code) US ZA ZA
Subject to Foreign Withholding tax No No No
Gross Foreign Rate (cents per unit) 5.59152
Foreign Tax % withheld at source
Foreign Tax amount per unit
DTA with Source Country
Foreign Tax Reclaim %
Portfolio/Management Cost
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 5.59152 0.71638 25.32145 31.62935
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 5.59152 0.71638 25.32145
SA Withholding Tax %
SA Withholding Tax amount per unit
Local Net Rate 5.59152 0.71638 25.32145 31.62935
*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 October 2024 to the holders of the FNB S&P 500 Feeder ETF securities:
Last day to trade "cum" distribution: Tuesday, 19 November 2024
Securities trade "ex" distribution: Wednesday, 20 November 2024
Record date: Friday, 22 November 2024
Payment date: Monday, 25 November 2024
Creations or redemptions from the fund will not be allowed during the period from 19 November
2024 to 22 November 2024, 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 2,610,000 FNB S&P 500 Feeder ETF securities in issue. The total distribution amount payable
is R 825,526.04.
FNB S&P 500 Feeder ETF Income Tax number is 3561/157/18/5.
A copy of the ETF issue document can be found at:
https://www.fnb.co.za/share-investing/exchange-traded-funds.html
13 November 2024
Johannesburg
Debt sponsor
FirstRand Bank Limited
Date: 13-11-2024 04:05:00
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