Ann: Update of put option, page-32

iii) Without prior written consent of a majority of noteholders, members of the Quintis group will not make any payment or transfer collateral to the institutional plantation owner that possesses a put option. Under the terms of the put option, the investor is able to sell 400 hectares of plantations to the Company at a predetermined price (refer to ASX Announcement on 1 May 2017).

iv) Terms for a waiver or deferral of payments to the institutional plantation owner that are acceptable to a majority of the noteholders are agreed by the parties by 30 July 2017


So a) they couldn't pay them and b) they still have to reach an agreement by Sunday and c) they have to find $13.6m to pay the coupon by Monday.