new shares and options delayed

QOL have issued a supplementary prospectus and are extending the date for people to subscribe from 19 April to 6 May. That seems reasonable but I’m a little concerned by the following:

“Underwriting Agreement

Due to recent volatility in general market conditions and particularly the small resources market, an event which would otherwise relieve the Underwriter of its obligations under the Underwriting Agreement has occurred. The Underwriter, whilst reserving its rights to terminate the Underwriting Agreement, has agreed to the extension of the closing date to the Extended Date.”

Anyone got any idea what the “event which would otherwise relieve the Underwriter of its obligations” is?

You can see the original document at http://www.qol.com.au/imagesDB/news/suppPros.pdf