Mr. Seamus McCarthy:

On the document referred to by the president earlier, we have a copy of it. Following the disposal of the interest in the intellectual property to the company from the then acting president, it informs AIB that, in line with the agreement in place, we will hold 1% of the 10.8% of shares for the benefit of AIB. It specifically refers to being in line with the term of the institute’s agreement with AIB. However, there is no signed version of that agreement. We do have the heads of an agreement which has space for signatures. From a legal point of view, however, it is a draft agreement.

I do not think there is a dispute necessarily between WIT and AIB as to what the terms are. A dispute has not arisen but one could arise. It would be better practice that there would be clear registered documents that have legal commitments on the part of the institute.