CITY OF CAPE TOWN METROPOLITAN MUNICIPALITY - Extension of financial reporting period - BICITY

Extension of financial reporting period - BICITY

THE CITY OF CAPE TOWN METROPOLITAN MUNICIPALITY
(A Municipality in terms of Section 155 of the Constitution of the Republic of South Africa, duly
established by notice in the Provincial Notice 479/2000 dated 22nd September 2000, of the Western
Cape, pursuant to Section 12(1) and Section 14(2) of the Local Government: Municipal Structures Act,
1998 (Act 117 of 1998) as amended)
JSE alpha code: BICITY
(“City of Cape Town” or “the Municipality”)

EXTENSION OF FINANCIAL REPORTING PERIOD

Debtholders are referred to the market notice issued by the Financial Services Conduct Authority on
7 July 2020, in respect of the extension of financial reporting periods (the “Extension Period”) and are
advised that City of Cape Town will be utilising the two-month Extension Period afforded to issuers
with year ends between 31 May 2020 and 31 July 2020.

 Due to the potential constraints placed on public entities as a consequence of the COVID-19 pandemic
and resultant nationwide lockdown, National Treasury issued an exemption which allowed an
extension of two (2) months to all spheres of government to submit their financial statements to the
Auditor General for auditing. As a consequence, the Auditor General has extended their audit report
submission due dates accordingly to allow for the application of the required due diligence and care
during the audit process. Although the City of Cape Town submitted their financial statements within
the deadlines as stipulated in the Municipal Finance Management Act (MFMA), the Auditor General
has informed the City that they will be unable to complete the audit within the legislative due date as
a result of the effect that the exemption, issued by National Treasury, has had on the availability of
their resources.

Given that the Municipality’s financial year end is 30 June 2020, City of Cape Town will make available
its integrated annual report by no later than 31 March 2021.

7 December 2020

Debt Sponsor
Nedbank Corporate and Investment Banking

Date: 07-12-2020 08:54:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.