This from the response by the company to the ASX on 8 March...

This from the response by the company to the ASX on 8 March 2023

ELD is not aware of any specificexplanation for the recent trading in its securities.

However, ELD does note thatthe Company held twoinvestor briefings yesterday with a number of institutional investors.No price sensitive information was discussed at that briefing. The followingsector-wide factors, all of which is information in the public domain, werediscussed with investors:

(a)current livestock priceswhich have declined from historic highs, but which remain above long termaverages;

(b)the impact of theunseasonably wet conditions, which affected much of eastern Australia in thelast calendar quarter of 2022, on cropping and livestock turn-off. The latenessof the season is likely to have an impact on competitor activity.

(c)softer real estate salesactivity which is likely affected by the rising interest rate environment;

(d)the strong wintercropping outlook due to excellent levels of sub-soil moisture and wateravailability in the east of Australia; and

(e)succession of the ManagingDirector and Chief Executive Officer (MD & CEO) following ELD’sannouncement, on 14 November 2022, that the current MD & CEO would retireon or before November 2023.

Factors (a) and (b) werereferred to in ELD’s full year results announcement on 14 November 2022. Inaddition, ABARES has released periodic information regarding cropping andlivestock outlook and Meat and Livestock Australia periodic informationregarding sheep and cattle prices.

The factors (a) to (d) suggest that ELD’ssecond half performance will be stronger than first half performance in FY23.

So not sure what these institutions would have gleanedfrom this to push the share price down by 11% but then again I wasn’t at thebriefing!!!