QIN 0.00% 29.5¢ quintis ltd

The PDS' for the growers are still available on the QIN site....

  1. 18 Posts.
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    The PDS' for the growers are still available on the QIN site. I'm a grower in the 2009 plantation so thought I'd download mine in case it gets removed. I note this sad fact from the Risk Factors section of the PDS & supplementary PDS:

    The insolvency of the Responsible Entity or the Manager may result in the suspension or termination of the Project if no suitable replacement can be located (PDS)

    In the event that TFS Properties were to become insolvent, the ongoing viability of the Project would rely upon the ability to engage a new entity to act as the responsible entity of the Project. There is no guarantee that an alternative qualified and willing responsible entity would be available (supp PDS).

    So I suppose it's really up to the Administrators/Receivers to see if they can get a new RE into play. Knowing a couple of people who got caught up in some other ag failures (thankfully I avoided those) they got zilch when the head company folded.

    I don't pretend to be a lawyer, but I do note that the PDS says that the grower may terminate the lease and management agreement if ... the RE commits an act of bankruptcy or going or being placed into liquidation or official management. Perhaps the growers could then appoint another RE (I don't know, just throwing it out there)?

    I'm not an owner of stock, just a grower.
    Last edited by BikeMan570: 22/01/18
 
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