Estados Financieros, (Inglés, Español) - Túnel San Cristóbal

SOCIEDAD CONCESIONARIA TÚNEL SAN
CRISTÓBAL S.A.
NOTES TO THE FINANCIAL STATEMENTS
(In thousands of pesos - ThCh$)
1. GENERAL INFORMATION
Sociedad Concesionaria Túnel San Cristóbal S.A., hereinafter
“the Company”, was incorporated as a closed corporation,
subject to the regulations of open corporations, granted
through a public deed on March 16, 2005, executed before
Notary Public Mr. José Musalem Saffie.
The corporate purpose of the Company is the execution, repair,
conservation, maintenance, and operation of the Stateowned
public works called Concesión Variante Vespucio
- El Salto - Kennedy, to the concessions system, as well as
rendering in operating the services as may be agreed in the
concession contract aimed at developing those works and
the other necessary activities for the proper execution of the
project.
Sociedad Concesionaria Túnel San Cristóbal S.A, has your
address and office in La Herradura 2750 Providencia.
The Company’s bylaws were amended through a public
deed dated July 26, 2005 executed at the Notary Public’s
office of Mr. José Musalem Saffie, whereby its term was set
to 35 years from the date of incorporation. This amendment
had been had been agreed in an Extraordinary Shareholders’
Meeting held on July 26, 2005.
Through a public deed dated January 6, 2006, executed at
the Notary Public’s Office of Mr. José Musalem Saffie, the
corporate name of “Sociedad Concesionaria San Cristóbal
Express S.A.” was changed to the current “Sociedad Concesionaria
Túnel San Cristóbal S.A.”. This amendment was
agreed in an Extraordinary Shareholders’ Meeting held on
December 22, 2005.
On September 22, 2005, the Company was registered in the
Securities Register under number 917, therefore it is subject
to the supervision of the Superintendency of Securities and
Insurance. Nevertheless, on March 10, 2010 this same entity
issued general nature norm No. 284, whereby it created
a new register for those entities that under a legal provision
shall become subject to the supervision of that Superintendency
provided that they are not among the entities referred
to in paragraph 1st of article 1st of Law No. 18,045
on Securities Market. Consequently, the Company ceased
to be included in the securities register and became registered
in the new “Special Register of Reporting Entities”. An
immediate consequence of this modification is the fact that
the Company only has the obligation to file annual financial
statements with the Superintendency of Securities and Insurance,
and not on a quarterly basis as it used to be prior to
this modification.
As a result of the transition process from accounting principles
generally accepted in Chile to international financial
reporting standards (IFRS), the Company shows a negative
equity that December 31, 2011 and 2010. This reversal will
depend on future cash flows generated and on the financial
and operating support of its stockholders. Bearing the foregoing
in mind, the financial statements have been prepared
under the principle of a going concern.
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