http://www.abc.net.au/news/2018-01-21/sandalwood-company-quintis-appoints-administrators/9347190

I got out before the inevitable.

Another failed top end agriculture experiment.

The sandalwood will survive, Quintis was an appalling run company.

The smart investors will snap up the plantations at bargain basement prices and most likely do well out of them.

Quintis had no cost controls, no decent agronomy taking place,, I could go on and on about the companies deficiencies.

I just hope its not going to be scooped up by the Chinese,,, just because they may have been part of the Quintis problem. I would hate to think that the Chinese planned the downfall of Quintis, so they could scoop it up for a bargain.
One of the marketing plans in China got roadblocked and was part of the Quintis downfall.
But mostly, the management was woeful from the top down.

https://www.youtube.com/watch?v=QT9BeGNnCqw

Oops - that was Quint.......

miketrees wrote on Jan 21^st, 2018 at 10:06pm:

The sandalwood will survive, Quintis was an appalling run company. The smart investors will snap up the plantations at bargain basement prices and most likely do well out of them. Quintis had no cost controls, no decent agronomy taking place,, I could go on and on about the companies deficiencies. I just hope its not going to be scooped up by the Chinese,,, just because they may have been part of the Quintis problem. I would hate to think that the Chinese planned the downfall of Quintis, so they could scoop it up for a bargain. One of the marketing plans in China got roadblocked and was part of the Quintis downfall. But mostly, the management was woeful from the top down.

What does that say about shareholder Representative John Allen who supports former chief executive Frank Wilson & his resurrection plan?

"Directors of the cash-strapped company said today they had called in administrators from KordaMentha following Friday’s decision by a US fund manager to exercise an option demanding Quintis buy back $37 million of sandalwood plantations."

"Quintis admitted today that it actually reached agreement on the outline of a recapitalisation in November but final binding terms could not be agreed between the noteholders and the new equity investors."

https://thewest.com.au/business/quintis-collapse-investors-left-with-thousands-of-worthless-shares-after-company-calls-in-administrators-ng-b88720757z

There have been suggestions the note holder may buy the company cheaply leaving investors out in the cold.

There have been suggestions the note holder may buy the company cheaply leaving investors out in the cold.

Good chance.

My description of the management being woeful has been demonstrated quite well.