SYGNIA ITRIX (RF) PROPRIETARY LIMITED – Distribution Finalisation Announcement Period Ended June 2019 – SYGEU

2019/07/11 14:30:00
SENS announcement for JSE listed company: SYG
                        

SYGEU 201907110032A
Distribution Finalisation Announcement Period Ended June 2019 – SYGEU

The Sygnia Itrix Collective Investment Scheme
Sygnia Itrix Euro Stoxx ETF
JSE code: SYGEU
ISIN: ZAE000249512
(‘SYGEU’)

A portfolio in the Sygnia Itrix Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment Schemes
Control Act, 45 of 2002.

DISTRIBUTION FINALISATION ANNOUNCEMENT PERIOD ENDED JUNE 2019

The Manager and Trustees of the Sygnia Itrix Collective Investment Scheme (being Sygnia Itrix (RF) (Pty) Limited and Standard
Bank of South Africa Limited), respectively, have declared a distribution to holders of SYGEU securities (‘investors’) recorded in the
register on Friday, 19 July 2019 in respect of the period ended June 2019.

An aggregated amount of 99.90053 ZAR cents (R 0.9990053) per SYGEU security is declared as follows:

Subject to
Alpha Gross Distribution (cents withholding tax Withholding Tax Net Distribution (cents
code Dividend/Interest Foreign/Local Source of funds per unit) (yes/no) (%) per unit)
Foreign (S64N
SYGEU Dividend rebate) Various 99.90053 No 99.90053

Total 99.90053 99.90053

This amount will be adjusted upwards for larger investors who are liable for less than the 0.75% management fee.

Notice is hereby given that the following dates are of importance in regard to the distribution for the period ended
June 2019 by the ETF to holders of SYGEU securities:

Last day to trade ‘cum’ distribution: Tuesday, 16 July 2019
Securities trade ‘ex’ distribution: Wednesday, 17 July 2019
Record date: Friday, 19 July 2019
Payment date: Monday, 22 July 2019

The distribution will be paid on Monday, 22 July 2019 to all securities holders recorded in the register on Friday, 19 July 2019.
1 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

Gross dividends 173.69977
Foreign dividend withholding tax -43.00557
Less Interest expense -0.05752
Less Portfolio costs -30.73615
Distributable dividend 99.90053

SA dividend withholding tax
Gross dividend 173.69977
Less Portfolio costs -30.73615
Net dividend 142.96362
SA dividend withholding tax 28.59272

SA tax 28.59272 cents (20%) will not be deducted as foreign dividend withholding tax has already been deducted (SECTION 64N).

Equalisation amount has been proportionally net off against all categories.

Source of Foreign Dividend not Taxed (S64N rebate)

France 39.4%
Germany 35.3%
Netherlands 8.6%
Spain 7.6%
Italy 6.9%
Belgium 1.2%
Ireland 0.6%
Finland 0.4%
Total 100.0%
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 comprise 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 (‘CSDP’) 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 or broker, as the case may be, 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 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, 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.

11 July 2019

Manager
Sygnia Itrix (RF) (Proprietary) Limited
Trustee
The Standard Bank of South Africa Limited

Sponsor
Vunani Corporate Finance

Date: 11/07/2019 02:30:00 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. 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.

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company:
server: 172.17.0.2