Ann: Proposed Sale of Russian Operations, page-11

As I understand it - isn't the exemption certificate required to do a return of capital to TIG shareholders? Obviously, the sale process will result in US$49M which will somehow need to be repatriated back into Australia, to then be returned to shareholders. If DFAT doesn't give them an exemption certificate, then TIG shareholders are basically screwed right?

I'm reading this as a legally binding agreement for a sale process where the new owners will own the assets so TIG are basicaly playing chicken with the Australian Dept of Foreign Affairs and daring them to deny the certificate. Makes me wonder what sort of escrow or 3rd party solutions would have been possible, but knowing how the Dept of Foreign Affairs works, I am betting that they would provided no assistance or guidance to TIG about what options there could be to disburse the funds out of Russia. Their attitude would have been to tell TIG to enter into whatever agreements they want, and then the Dept of Foreign Affairs would decide if its legal or not.....