General Announcement::Council delays release of results announcement and annual report

Issuer & Securities

Issuer/ Manager
AUCKLAND COUNCIL
Securities
AUCKLAND COU NOK1.4B 4%N280909 - XS0964196603 - 2ZFB
AUCKLANDCOEU185M 2.125%N340324 - XS1045821847 - 3E4B
AUCKLANDCOUN EU500M1%N270119 - XS1520344745 - 67KB
AUCKLANDC NOK1B 2.0775%N311128 - XS1514161956 - 61YB
AUCKLANDC EUR500M0.125%N290926 - XS2055663764 - KJIB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
04-Aug-2020 10:36:06
Status
New
Announcement Sub Title
Council delays release of results announcement and annual report
Announcement Reference
SG200804OTHRUL7Y
Submitted By (Co./ Ind. Name)
Andrew John
Designation
Funding Manager
Effective Date and Time of the event
04/08/2020 17:00:00
Description (Please provide a detailed description of the event in the box below)
Media release

4 August 2020


Council delays release of results announcement and annual report

Auckland Council (Council) has notified the New Zealand Stock Exchange (NZX) that it will rely on the NZX Class Waiver dated 3 April 2020 extending the deadline for the release of results announcements and annual reports. Accordingly, Council expects to release:

its results announcement to NZX no later than 28 September 2020; and
its annual report to NZX no later than 30 October 2020.

As a result of discussions with its auditors, Audit New Zealand and the Office of the Auditor-General, Council believes it is prudent to delay the release of its financial results for the year ended 30 June 2020 from 28 August 2020 to no later than 28 September 2020 and its annual report from 30 September to no later than 30 October 2020.

The COVID-19 pandemic has given rise to a number of uncertainties which require management to apply significant judgement to the underlying assumptions and estimates within the financial statements. The time extension is required to allow additional time for the audit review of these judgements, and the extended annual report disclosures relating to the impact of the COVID-19 pandemic on Auckland Council Group.

End

For further information please contact:
Katherine Forbes,
Head of Public Affairs,
Mobile: +64 21 872 680,
Email: Katherine.forbes@aucklandcouncil.govt.nz

Attachments

Offshore Release delay in Annual Report - 4 August 2020.pdf
Total size =29K