Elders Hybrids

Elders Hybrids investors are understandably becoming impatient. It’s been nearly three years since receiving a distribution payment, and none seem forthcoming any time soon. Elders recently confirmed distributions will remain suspended until the company is on a surer financial footing. So it is welcome news that Elders will receive a $65m payment (after tax) from the Australian Tax Office. This follows the Federal Court rescinding a 2004 amended tax assessment relating to the sale of Elders’ Building Products Division in 1997. This payment improves the company’s financial position, and reduces the credit risk for Elders Hybrids holders to a minor...

Elders Hybrids investors are understandably becoming impatient. It’s been nearly three years since receiving a distribution payment, and none seem forthcoming any time soon. Elders recently confirmed distributions will remain suspended until the company is on a surer financial footing.

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