Australian Politics Forum - Quintis bites the dust

miketrees Gold Member Offline Australian Politics Posts: 6490 Gender:	Quintis bites the dust Jan 21^st, 2018 at 9:04pm http://www.abc.net.au/news/2018-01-21/sandalwood-company-quintis-appoints-admini... I got out before the inevitable.
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freediver Gold Member Offline www.ozpolitic.com Posts: 48814 At my desk.	Re: Quintis bites the dust Reply #1 - Jan 21^st, 2018 at 9:55pm Another failed top end agriculture experiment.
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miketrees

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Re: Quintis bites the dust
Reply #2 - 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.

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Grappler Truth Teller Feller Gold Member Offline Australian Politics Posts: 82918 Proud pre-1850's NO Voter Gender:	Re: Quintis bites the dust Reply #3 - Jan 21^st, 2018 at 10:25pm Oops - that was Quint.......
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Gnads

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Re: Quintis bites the dust
Reply #4 - Jan 22^nd, 2018 at 8:55am

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?

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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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lee

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Re: Quintis bites the dust
Reply #5 - Jan 22^nd, 2018 at 1:50pm

"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-o...

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

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miketrees Gold Member Offline Australian Politics Posts: 6490 Gender:	Re: Quintis bites the dust Reply #6 - Jan 22^nd, 2018 at 10:55pm 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.
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