ETFT40-Finalization of distribution – SENS – Moneyweb

                            

ETFT40-Distribution Finalisation

1nvest TOP 40 ETF (‘ETFTOP40’)(being a portfolio under the STANLIB ETF Collective Investment
Scheme registered in the Republic of South Africa in terms of the Collective Investment Schemes Control Act
“CISCA”)
Share Code: ETFT40
Abbreviated Name: ETFTOP40
ISIN: ZAE000279212 (‘ETFTOP40’)
Income Tax number: 9528816169

DISTRIBUTION FINALISATION ANNOUNCEMENT QUARTER END 31 DECEMBER 2021

The manager of the STANLIB ETF Collective Investment Scheme (“the Manager”) has resolved to make a
quarterly distribution to Securities Holders for the quarter ended 31 December 2021 (‘the Distribution’) in
an amount of 15.54000 cents per ETFTOP40 ETF security. The distribution will be constituted as follows:

Alpha Code: ETF40T Dividend Dividend Interest REIT Total
Distribution Source type Foreign SA Listed Local Local Local
Net Distribution Reinvested No No No No
Source of Funds (Country Code) GB ZA ZA ZA
Subject to Foreign Withholding tax Yes No No
Gross Foreign Rate (cents per unit) 1.87000 11.59000 0.34000 1.74000
Foreign Tax % withheld at source 0.00000%
Foreign Tax amount per unit
DTA with Source Country 15%
Foreign Tax Reclaim %
Portfolio/Management Cost
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 1.87000 11.59000 0.34000 1.74000 15.54000
Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 1.87000 11.59000 0.34000 1.74000
SA Withholding Tax % 20.00000% 20.00000% Note 1
SA Withholding Tax amount per unit 0.37400 2.31800
Local Net Rate 1.49600 9.27200 0.34000 1.74000 12.84800
Note 1 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 Gross rate for non-
residents is 1.74000 and the net rate is 1.39200 cents per unit.

Notice is hereby given that the following dates are of importance in regard to the distribution for quarter
ended 31 December 2021 by the ETF to holders of ETFTOP40 securities:

Last day to trade cum distribution: Tuesday,18 January 2022
Securities trade ex distribution: Wednesday,19 January 2022
Record date: Friday,21 January 2022
Payment date: Monday,24 January 2022

The distribution will be paid on Monday,24 January 2022 to all securities holders recorded in the register
on Friday,21 January 2021.

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 20% 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 maybe 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.

Johannesburg
14 January 2022
Sponsor
The Standard Bank of South Africa Limited

Date: 14-01-2022 12:51:00
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