Quintis asks for shares to be suspended

Sandalwood grower Quintis has sought a voluntary suspension in trading of its shares as its chief executive reviews operations and looks to update guidance.

Troubled sandalwood grower Quintis has sought a week-long suspension in trading of its shares to review the company's operations and update earnings guidance.

"The company expects the suspension to last until the earlier of the commencement of normal trading on 24 May 2017, or the release of an announcement," Quintis told the ASX on Wednesday.

Shares in Quintis, formerly known as TFS Corp, have lost 80 per cent of their value since March following negative research reports by activist funds and the loss of a supply contract with a key customer.


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Source: AAP


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