RE:RE:New Press Release - Foraco International exits RussiaGeezer21 Not sure where you pulled that number out of but this is the actual wording in the Year End Report. Todays release sounds like they did a bit better.
On February 2, 2024, the Company received authorization from the Russian Authorities to proceed with the sale of its shareholding in its subsidiary, EDC Russia. A sale agreement has been finalized with a net cash transaction of US$2.1 million expected in the first half of 2024, which is lower than the entity’s carrying amount as of December 31, 2023. In accordance with IAS 36, the Company conducted an impairment review as of December 31, 2023, and determined that no impairment needed to be recorded. The disposal, reflecting the Company's strategy to divest from Russia, is expected to generate no significant impact on net income when completed.