Oct 26 (Reuters) - Quickflix Ltd QFX.AX :
* Update on company restructure QFX.AX
* Says has finalised an agreement with a major studio licensor for the release of approximately $2 million of debt
* Says company has identified cost savings of $4 million per annum across operating and investment areas
* Says has reached agreement to enter affiliate arrangements with svod operators in Australia and New Zealand
* Quickflix -co has secured in principle agreement with three other studio licensors for the restructuring and release of a further $4.0 million in commitments
* Has reduced headcount by over 20 per cent which has yielded a 33 per cent reduction in staff costs or $1.7 million per year
* Says will introduce a special svod offer to its customers and derive a fee for signups to that offer
* Says is intended that the svod offers will be complementary to the company's existing customer offerings
* Says has lodged its 2015 tax return including a claim for an research and development rebate of approximately $0.66 million
* Says in discussions with a number of investors regarding potential additional funding to assist with the recapitalisation process
* Will remain in voluntary suspension until finalisation of the restructuring programme
* Source text for Eikon ID:nASX4MnVd0