Update on annual financial statements for the year ended June 2017
Company code : BIUMWA
UPDATE ON ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 2017
Further to the announcement released by Umgeni Water on 1 February 2018 regarding the notice of availability
of its annual financial statements for the year ended June 2017 (“AFS”) and confirmation that the audit report
relating to the AFS is unqualified, shareholders are referred to the Report of the Auditor-General as well as note
32 of the AFS which refers to an emphasis of matter relating to a process of establishing a single water board in
Kwa-Zulu Natal. This process has previously been announced on 15 November 2017.
Shareholders are advised that the Auditor-General’s opinion has not been modified as a result of the emphasis
of matter and that the accounting authority has no reason to believe that this process will negatively affect the
going concern position of Umgeni Water during the 2017/2018 financial year, but that it will create growth
opportunities for the merged entity.
14 February 2018
Enquiries: M Phillips at 033 3411054/1058
Nedbank Corporate and Investment Banking
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