Seligson & Co OMX Helsinki 25 Exchange Traded Fund invests in the companies included in the OMX Helsinki 25 equity index. Two of the companies that have been and still are included in the index, Nordea and TeliaSonera, are domiciled in Sweden. Tax has been withheld in Sweden on the dividend payments of these two companies.
Due to a change in legislation, Finnish mutual funds shall be refunded the withholding taxes on dividends which have been withheld in Sweden against the EU law.
The Swedish authorities have today confirmed that refund payments have been made to Seligson & Co OMX Helsinki 25 Exchange Traded Fund. The amount due to the Fund, payable in two instalments - according to the information received - will be SEK 6,210,275 (circa EUR 690,000). The refunded amount will be included in the Fund’s Net Asset Value today and the effect on the Net Asset Value calculated by the current amount of outstanding shares and using the current exchange rate is approximately EUR 0.13 per share.
Seligson & Co Fund Management Company has also claimed for the Fund refunds of such Swedish withholding taxes related to the same companies that were not included in the amounts stated above. The maximum amount of these claims is approximately EUR 276,000. These refunds will be included in the Fund’s Net Asset Value as soon as the refunds have been received by the Fund or the information regarding the payments of refunds has been confirmed.
Queries: Mari Rautanen, tel. +358 (0)9 6817 8224, email: mari.rautanen@seligson.fi
Seligson & Co Fund Management Company Plc
Ari Kaaro, Managing Director, email: ari.kaaro@seligson.fi, Phone +358 (0)9 6817 8217