| Wed 2 Oct 2019, 9:10 | | Update on the delay in release of TCTA's 2018/19 Annual Financial Statements |
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Update on the delay in release of TCTA's 2018/19 Annual Financial Statements:
Trans-Caledon Tunnel Authority (TCTA)
WSP4 (LHWP) ZAG000020009
WSP5 (LHWP) ZAG000020017
As established by Notice No 2631 in Government Gazette No 10545 of 12 December 1986, and revised
by Notice No 277 in Government Gazette No 21017 of 24 March 2000 (the Notice of Establishment).
A Schedule 2 Public Finance Management Act No. 1 of 1999 (PFMA) entity.
UPDATE ON THE DELAY IN RELEASE OF TCTA'S 2018/19 ANNUAL FINANCIAL STATEMENTS
Noteholders are notified of the following with regards to the delay in releasing TCTA's Annual Financial
Statements (AFS) for the year ended 31 March 2019.
TCTA's SENS Announcement of 30 August 2019 (titled: Delay In Completion of TCTA's 2018/19 Audit
and Annual Financial Statements) has reference.
UPDATE
Since the previous communication on the matter there have been numerous engagements between TCTA,
the Department of Water and Sanitation (DWS), the Auditor-General of South Africa (AGSA), Lesotho
Highlands Water Commission (LHWC), and Lesotho Highlands Development Authority (LHDA).
While there are still some outstanding issues to resolve, substantial progress has been made with regards
to the main points of disagreement. As such, TCTA believes that it stands a realistic chance of meeting its
revised targets for the issuing of the AFS:
* 23 October 2019 - consideration of the AFS by the Board's Audit and Risk Committee,
* 30 October 2019 - adoption of the AFS by the Board, and
* Publication shortly thereafter
CONSEQUENCES OF THE DELAY:
MISSED AFS REPORTING DEADLINES
Requirement Deadline Status Consequences of Non-Compliance
s55(1)(d) PFMA submission 31 Aug 2019 TCTA has Internal
to Minister/DWS and National communicated (Deputy Chairperson) Ms MJ Ramataboe; Mr S Roopa, Mr SN Khondlo, Mr NT Baloyi, Ms LN Dlamini, Ms MM Maponya, Mr GNJ White
(Chief Executive Officer) Mr DKP Sechemane; (Company Secretary) Adv W De Witt
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Date: 02/10/2019 09:10:00
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