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Remove any existing fixtures from the wall including shelves, towel racks and light fixtures. Make sure the power is off at the circuit breaker box when removing any electrical fixtures.
Lay down a drop cloth.
Use scrapers to remove any of the loose plaster.
Once the area is clean and the edges smoothed off, use a damp sponge to wipe down the wall. The plaster should only be damp and not saturated to enable the new material to meld with the old.
Prepare the plaster mix. The mix should be the consistency of thick pancake batter in accordance with the manufacturer's instructions. Make sure that there are no lumps in the mix to avoid air pockets in the wall.
Once the mix is ready, apply to the wall using a trowel. Fill up the holes first and then the joints then go back over these areas again.
Once dry, sand the wall down and apply a second coat of plaster.
Allow to dry and sand down the wall once again to a smooth finish.
Prime and paint.