At 31 December 20X5, Lancevane has decided (board meeting of 5 December) to close its Rennavel plant and to sell its land and buildings. No announcement was made before the reporting date; the plan is announced on 15 January 20X6. A buyer has signed a non-binding offer. The restructuring is material. Write a memo on the treatment at 31 December 20X5 (provision, assets, disclosure).
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