Event reminders stored in UTC but triggered in local timezone

phablet@ubuntu-phablet:~$ click list | grep
com.ubuntu.calendarcom.ubuntu.calendar 0.4.502
phablet@ubuntu-phablet:~$
system-image-cli -i
current build number: 4
device name: mako
channel: ubuntu-touch/ubuntu-rtm/14.09
last update: 2014-10-08 09:47:10
version version: 4
version ubuntu: 20141007
version device: 20140929.1
version custom: mako-0.5

When creating events with reminders at "Event time", the reminder is stored in UTC, but triggered in local time. I first noticed this when creating events in BST (UTC+0100).

STR:

 - Set device timezone to something other than GMT/UTC.
 - Open Calendar
 - From the actions mention, select New Event
 - Fill in some basics - time /date, event name, location, reminder at "Event time"..
 - Save the event
 - Wait until the alotted time, and observe the absence of a reminder.

Setting my timezone to SAST (UTC+0200) and adding an event 5 minutes
into the future, no reminder fired. However, changing the date to 2h5m
into the future, the reminder fired 2h before the event. So it looks like
the reminder is being *stored* in UTC, but *fired* in local time.
Here is the entry from ~/.local/share/evolution/calendar/system/calendar.ics:

BEGIN:VEVENT
UID:20141017T094649Z-6046-32011-1750-1@ubuntu-phablet
DTSTAMP:20141017T100018Z
DTSTART:20141017T120200
DTEND:20141017T130200
X-LIC-ERROR;X-LIC-ERRORTYPE=VALUE-PARSE-ERROR:Can't parse as RECUR value
 in RRULE property. Removing entire property: ERROR: No Value
LOCATION:Here
DTSTART:20141017T120200
DTEND:20141017T130200
X-LIC-ERROR;X-LIC-ERRORTYPE=VALUE-PARSE-ERROR:Can't parse as RECUR value
 in RRULE property. Removing entire property: ERROR: No Value
LOCATION:Here
SUMMARY:Test Event
SEQUENCE:1
LAST-MODIFIED:20141017T100018Z
END:VEVENT
END:VCALENDAR