Notes on The Accounts (Continued)
20. OPERATING LEASE COMMITMENTS
At 30th June, 1991, the group and the company had commitments under operating leases for land and buildings to make payments in the next year as follows :-
Leases expiring:
Within 1 year
After 1 year but within 5 years
Group and company
1991
1990
$000's
$000's
1,066
726
211
174
1,277
900
21.CAPITAL COMMITMENTS
Capital commitments outstanding at 30th June, 1991 not provided for in the accounts were as follows:-
Contracted for
Authorised but not contracted for
Group and company
1991
1990
$000's
$000's
6,078
549
533
457
22. POST BALANCE SHEET EVENT
Subsequent to the balance sheet date, the company has reached agreement in principle, subject to contract, with a property developer, to establish a limited company which would be owned by the property developer and the company's subsidiary. This new company will purchase from the company and its subsidiary certain of their leasehold properties for a consideration of $980 million. Such disposal of the leasehold properties will be subject to the approval of the company's shareholders in general meeting. The profit arising from such disposal will be accounted for in the accounts for the year ending 30th June, 1992 upon finalisation of the relevant agreement.
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