I just had a thought about those put options. The investor who holds these, they now know the company has no cash to pay up if they exercised the option. So what would then be the point to exercise them now if it will make the company fold even faster. Don't forget, that investor was given these options for free for being one of the earlier investors in plantations or whatever it was so their interest in the company goes far beyond that $33 million option. I would say to ensure they have a better chance of getting something back, they might actually give the company more time. I actually found it interesting when they changed the terms of the put options in April, one of the clauses was if a change of control transaction occurred. Can we speculate if this mysterious put option holder may be the bods who are trying to take over on the cheap? Just saying...personally I put quite a lot of weight on whether they opted to exercise at end of April. Was genuinely surprised they didn't which signalled to me they must have thought the company was going to stay afloat a lot longer to be able to pay them out in the future.
QIN Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
