For better or for worst the outcome of the High Court appeal...

For better or for worst the outcome of the High Court appeal will have no impact on PIF or ARL. It will only clarify some legal points for any future transactions.

That egg has been scrambled, anyone who received an ARL annual report will remain a shareholder of ARL.

ARL holds most of what is left of the PIF assets, how much the ARL shareholders get back from those assets will be determined by how well they are managed.