MTN GROUP LIMITED - MTN sell-side analyst briefing on the voluntary change in accounting policy relating to the treatment of FCTR
MTN sell-side analyst briefing on the voluntary change in accounting policy relating to the treatment of FCTR
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
(Share code MTN)
(ISIN: ZAE000042164)
(“MTN” or “the Group”)
Sell-side analyst briefing on the voluntary change in accounting policy relating to the
treatment of foreign currency translation reserves (“FCTR”)
In its trading statement dated 31 July 2020, and its interim financial results released on 6 August 2020, MTN
communicated a voluntary change in accounting policy relating to the treatment of FCTR. IAS 21 - The Effects of
Changes in Foreign Exchange Rates, requires that, on the disposal of a foreign business operation, the cumulative
amount of the exchange differences relating to that foreign business operation recognised in equity on the
statement of financial position over time, shall be reclassified from equity to profit or loss as a reclassification
adjustment when the gain or loss on disposal is recognised.
MTN is hosting a workshop for sell-side analysts to discuss the principles and implications of this above-mentioned
voluntary change in accounting policy on the Group financial statements. The briefing will be held via a
teleconference today, 13 August 2020.
The presentation is available on our website at
https://www.mtn.com/investors/more-in-investors/analyst-day-presentations/
Fairland
13 August 2020
Lead sponsor
Tamela Holdings Proprietary Limited
Joint sponsor
JP Morgan Equities (SA) Proprietary Limited
Date: 13-08-2020 01:15:00
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