TOUTEN PLC IS A UK REGISTERED MULTINATIONAL COMPANY WITH SUBSIDIARIES IN EUROPE,ASIA AND AFRICA. THE SUBSIDIARIES HAVE TRADITIONALLY BEEN ALLOWED A LARGE AMOUNT OF AUTONONY, BUT TOUTEN PLC IS NOW PROPOSING TO CENTRALISE MOST OF THE GROUP TREASURY MANAGEMENT OPERATIONS REQUIRED ACTING AS A CONSULTANT TO TOUTEN PLC,PREPARE A MEMO SUITABLE FOR DISTRIBUTION FROM THE GROUP FINANCE DIRECTOR TO THE SENIOR MANAGEMENT OF EACH OF THE SUBSIDIARIES EXPLANING A.THE POTENTIAL BENEFITS OF TREASURY CENTRALISATION AND B. HOW THE COMPANY PROPOSES TO MINIMISE ANY POTENTIAL PROBLEMS FOR THE SUBSIDIARIES THAT MAY ARISE AS A RESULT OF THE TREASURY CENTRALISATION