Ann: Extension of Voluntary Suspension, page-66

Options to do prevent a default include a capital raising, equity injection, debt restructure, or some other sort of capital injection.


Quintis Ltd updates on survival struggle
Motley Fool Staff | July 31, 2017 | More on: QIN

The shares of troubled sandalwood plantation manager, grower, and retailer Quintis Ltd (ASX: QIN) will remain suspended after the company revealed it will be unable to make a coupon payment of $10.9 million due to its debt investors by August 1 2017.

The company has requested an extension of its trading halt until September 1 2017, while it attempts to resolve its cash flow problems and re-negotiate the terms of its debt owed to bondholders.

The company stated it has until August 30 to either make the $10.9 million payment or to receive a waiver to prevent a default. Options to do prevent a default include a capital raising, equity injection, debt restructure, or some other sort of capital injection.

It was the allegations of U.S. hedge fund and short selling specialist Glaucus Inc. that Quintis shares were worth zero that sent the share price into a dive and accelerated the unraveling of the company.

http://www.********.au/2017/07/31/quintis-ltd-updates-on-survival-struggle/