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Elders announce write down of FEA shareholding
Elders Limited has advised the market that the Company will write down the remaining value of its shareholding in FEA to zero as a result of the appointment of an administrator to that company.
Elders Chief Executive Malcolm Jackman said that FEA's announcement reflected circumstances particular to FEA, and were not directly relevant to Elders Forestry.
"Elders Forestry is an entirely different proposition. Elders has completed its refinance, recapitalised our balance sheet and reduced debt. We expect to be a strong competitor in the coming MIS sales season."
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