| Fri 8 Jun 2012, 13:46 | | MAPPSG/ MAPPSP - Newfunds Mapps Growth ETF Portfolio/Newfunds Mapps Protect Etf |
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JSE MAPPSPMAPPSG
NFS
MAPPSG/ MAPPSP - Newfunds Mapps Growth ETF Portfolio/Newfunds Mapps Protect Etf
Portfolio - Distribution and Reinvestment announcement for quarter ended 30 June
2012 - Salient Dates
NEWFUNDS MAPPS GROWTH ETF PORTFOLIO
Share code: MAPPSG
ISIN: ZAE000153763
NEWFUNDS MAPPS PROTECT ETF PORTFOLIO
Share code: MAPPSP
ISIN: ZAE000153771
Portfolios in the NewFunds Collective Investment Scheme in Securities registered
as such in terms of the Collective Investment Schemes Control Act, 45 of 2002
and managed by NewFunds Proprietary Limited
(Registration Number 2005/034899/07)
DISTRIBUTION AND REINVESTMENT ANNOUNCEMENT FOR QUARTER ENDED
30 June 2012 - SALIENT DATES
Notice is hereby given that the following dates are of importance in regard to a
possible distribution and reinvestment by the above ETFs to holders of the ETF
securities for the quarter ending 30 June 2012:
Last day to trade "CUM" distribution: Friday, 22 June 2012
Securities trade "EX" distribution: Monday, 25 June 2012
Record date: Friday, 29 June 2012
An announcement of the amount to be distributed (if any) will be made on or
before 19 July 2012.
EFFECT OF THE NEW DIVIDEND WITHHOLDING TAX ("DWT") ON DISTRIBUTION AMOUNTS:
Investors are advised that with effect from 1 April 2012, all dividends will be
subject to DWT at a current rate of 15% except where an investor is exempt or
qualifies for a reduced rate of DWT. Even where a re-investment occurs, there is
a notional distribution to the investors which could result in the withholding
of dividends tax to the extent that the distribution comprises of dividends.
Given the practicalities of DWT, the Manager wishes to inform investors that
the reinvestment methodology of the above ETFs will change, with immediate
effect, from reinvesting income as and when it is received (as described in the
Applicable Portfolio Supplements) to reinvesting income at the end of the
accounting period (being on a quarterly basis). Income received will be held in
an Income account until the end of an accounting period, when a gross
distribution will be declared and notionally distributed. The process will be as
follows:
The ETF will declare a gross distribution to investors. The net distribution
amount (after the deduction of DWT at a current rate of 15%) will be re-invested
in the ETF on behalf of investors through the purchase of additional Constituent
Securities (as defined in the relevant Portfolio Supplement) in the appropriate
weightings, thereby increasing the net asset value of the ETF and,
proportionately increasing the value of each ETF security. As a consequence of
reinvesting the net distribution amount (after the deduction of DWT), the ETF
will be tracking the relevant total return net-of-dividend tax index.
The dividends tax amount withheld will be paid to the South African Revenue
Service in respect of investors that are not exempt from dividends tax. The
payment of dividends tax will be made by the relevant intermediary, being the
Central Securities Depository Participant ("CSDP") or Broker nominee company
which is the final regulated intermediary in terms of the Income Tax Act.
Investors exempt from DWT, or holders qualifying for a reduced rate per Double
Tax Agreement ("DTA") will receive, in cash, the amount equal to the applicable
DWT, provided they have completed and timeously lodged with their relevant
intermediary the prescribed declaration and undertaking form. Failure to do so
will result in dividends tax being withheld in full.
Investors wishing to reinvest the cash amount received may do so via their usual
investment process, the amount received will not be automatically reinvested.
ADDITIONAL INFORMATION:
Number of securities in issue Tax reference
number
MAPPSG N/A
1,406,698
MAPPSP 1,108,764 N/A
8 June 2012
Sponsor
Absa Capital
(the investment banking division of Absa Bank Limited, affiliated with Barclays)
Date: 08/06/2012 13:46:00 Produced by the JSE SENS Department.
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