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SYGNIA ITRIX (RF) PROPRIETARY LIMITED - Distribution Finalisation Announcement Period Ended December 2019 - SYG500

Release Date: 16/01/2020 15:02
Code(s): SYG500     PDF:  
 
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Distribution Finalisation Announcement Period Ended December 2019 - SYG500

The Sygnia Itrix Collective Investment Scheme
Sygnia Itrix S&P 500 ETF
JSE code: SYG500
ISIN: ZAE000251377
(“SYG500”)

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 DECEMBER 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 SYG500 securities ("investors") recorded in the
register on Friday, 24 January 2020 in respect of the period ended December 2019.

An aggregated amount of 31.89535 ZAR cents (R 0.31895) per SYG500 security is declared as follows:

                                                                                                     Subject to
                                                                                                     withholdin
 Alpha                                          Source of         Gross Distribution (cents per      g tax        Withholdin   Net Distribution (cents per
 code      Dividend/Interest   Foreign/Local    funds             unit)                              (yes/no)     g Tax (%)    unit)
                               Foreign (S64N
 SYG500    Dividend            rebate)          United States                             31.89535   No                                            31.89535




 Total                                                                                    31.89535                                                 31.89535



Notice is hereby given that the following dates are of importance in regard to the distribution for the period ended
December 2019 by the ETF to holders of SYG500 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

The distribution will be paid on Monday, 27 January 2020 to all securities holders recorded in the register on Friday, 24 January 2020.
 1 NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)


 Gross dividends                                  49.01727
 Foreign dividend withholding tax                 -7.49341
 Less Interest Expense                            -0.78081
 Less Portfolio costs                             -8.84770
 Distributable dividend                           31.89535


 SA dividend withholding tax
 Gross dividend                                   49.01727
 Less Portfolio costs                             -8.84770
 Net dividend                                     40.16957
 SA dividend withholding tax                      8.03391

SA tax 8.03391 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.

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.

16 January 2020

Manager
Sygnia Itrix (RF) (Proprietary) Limited

Trustee
The Standard Bank of South Africa Limited

Sponsor
Vunani Sponsors

Date: 16-01-2020 03:02:00
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