Asked if a Whyte buy-out was the only realistic alternative, Johnston said: "There are other mechanisms that we would like to pursue but at this point in time, the huge contingent issue
of what HMRC has done is actually the gorilla in the room in terms of us expediting this.
The contingent issue
of a further 5 million Range shares subject to the
First, it is prescriptive, proffering a sort of DNA/hieroglyph, which purports to have already solved all contingent issues
He said the church cannot diminish its pastoral efforts, nor should it reduce them to a "temporal and worldly dimension" or limit them to important contingent issues
like agrarian reform.
He said that notwithstanding conservative and aggressive credit management, customer credit losses were the largest in the company's history exceeding credit reserves and the favorable resolution of a number of contingent issues
Although discussions are ongoing and a number of contingent issues
need to be completed, the Company has received favorable indications from various landlords that the permanent lease reductions will be approximately $1.
The transaction with AOS is conditional upon AOS representing and warranting to the Company that: AOS will pay, or cause to be paid, all outstanding liabilities of BRI and AOA; AOS will maintain, or cause to be maintained, comprehensive liability insurance coverage of US$1,000,000; and that it will hold the Company harmless from any and all outstanding liabilities of BRI and AOA; and that it will give a complete and unconditional release to the Company for any employee liabilities, severance and contingent issues
related to the operations as at the date of closing.