Published On: Fri, Dec 28th, 2012

Incorrect or incomplete information on the status of the financial statements 2010 from Aqualectra

WILLEMSTAD - Aqualectra noted several incorrect reports in the media concerning the approval of its 2010 financial statements.

Aqualectra want to make a few things clear:

It is the duty of the directors to prepare annual reports with explanations about the various facts and circumstances and subsequently give it to  the Supervisory Board, through the Audit Committee, for approval and for advice with respect to the shareholder. After all this is offered to the shareholder with or without approval of these financial statements.

Besides the preparation of financial statements by management, the external auditors check the them and provide them with a statement on their fairness. In addition, the auditor also makes a projection to the future of the company based on the information provided by the company. Currently, the auditor is engaged in completing the verification process.

From various reports in the media it can be concluded that incorrect or incomplete information was provided regarding the status of the financial statements for 2010 and a number of related topics. As already indicated, the process of checking is in a final phase, the auditor has indicated out of its own responsibility some preliminary findings on a number of aspects in the financial statements. These aspects are currently the basis for discussion between the involved bodies of the company. Then the external auditor proceeds to issue a final audit report, which covers the audit work and findings in this regard.

Aqualectra would like to strongly emphasize that it never comes to 'abuses' as indicated in some media, but to obtain a correct representation of the transactions which the company is entering into and which may affect the utility. Therefore all stakeholders should come together in the short term to achieve such alignment with Aqualectra to help improve the company.

Aqualectra also explains that despite the difficult circumstances they are doing everything possible to meet all obligations. These suppliers can rest assured that there is always a way to seek appropriate solutions to the commitments and also obligations. It is of paramount importance that the supply of water and electricity remains stable.

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