TRANS-CALEDON TUNNEL AUTHORITY (TCTA) - TCTA-Availability of Annual Financial Statements

TCTA-Availability of Annual Financial Statements

Trans-Caledon Tunnel Authority
(“TCTA” or “the Issuer)
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.


RELEASE OF ANNUAL FINANCIAL STATEMENTS AND UNQUALIFIED AUDIT OPINION

Investors are advised that TCTA’s Annual Financial Statements for (AFS) the year ended 31
March 2020 have been released:

(a) The Annual Financial Statements are available for inspection at TCTA’s registered office
    and     are     also    available   on   TCTA’s      website     (www.tcta.co.za)     at
    http://www.tcta.co.za/annual-report

(b) On 7 December 2020, the Auditor-General of South Africa (“AGSA”), the Auditors of
    TCTA, issued an unqualified audit opinion with respect to TCTA’s AFS for the year ended
    31 March 2020.


RESTATEMENT OF ANNUAL FINANCIAL STATEMENTS

Restatements were processed in the year under review predominantly due to the resolution
of matters which led to the qualification of the audit opinion in the previous financial year. The
prior year AMD Receivable balance was qualified as the AGSA was unable to fully verify the
amount presented in the AFS to the workings provided by management. In resolving this
qualification, the tariff receivable balance had to be restated as well.
In addition, management amended the accounting treatment on the premiums/discounts on
the issue of bonds to be more closely aligned to the relevant accounting standards. As a
result, previously stated balances had to be restated to effect this change.


Johannesburg
19 January 2021


Debt Sponsor
The Standard Bank of South Africa Limited


Queries – Wanda Mkutshulwa, Head of Communications +27 12 683 1378,
wmkutshulwa@tcta.co.za

Date: 19-01-2021 11:04:00
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