KOMATI BASIN WATER AUTHORITY - Availability of Annual Financial Statements for the Year Ended 31 March 2020

Availability of Annual Financial Statements for the Year Ended 31 March 2020

Komati Basin Water Authority
Established in terms of the Treaty on the Development and Utilisation of Water Resources of the
Komati River Basin
Stock Code: KW01
ISIN Code: ZAG000016296
(“KOBWA” or “the Issuer”)


AVAILABILITY OF ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020


Noteholders are hereby advised that the audited annual financial statements for KOBWA for the year
ended 31 March 2020, including the unqualified audit report of PricewaterhouseCoopers Inc., the Issuer’s
registered auditors, are available for inspection at the registered office of the Issuer and on the Issuer’s
website, http://www.kobwa.co.za/index.php/about-us/key-document/financial-reports.

Noteholders are referred to the announcements released on SENS on 31 October 2019 and
19 November 2019 wherein it was stated, inter alia, that the board of directors of KOBWA (“the Board”)
had reviewed KOBWA’s accounting framework and subsequently identified Generally Recognised
Accounting Practice (“GRAP”) as a more appropriate accounting framework than International Financial
Reporting Standards (“IFRS”).

Noteholders are further advised that as set out in note 31 of the 2020 annual financial statements, certain
corrections of errors, including those related to the transition from IFRS to GRAP, resulted in adjustments
to the opening balances of certain of the prior year period figures.


Johannesburg
11 September 2020

Debt Sponsor
Merchantec Capital

Date: 11-09-2020 02:30:00
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