Jan 22 (Reuters) - Quintis Ltd QIN.AX :
* APPOINTMENT OF ADMINISTRATORS
* UNDERSTANDS NOTEHOLDERS INTEND TO APPOINT MCGRATHNICOL AS RECEIVERS AND MANAGERS OF SECURED ASSETS
* CONFIRMS THAT ASIA PACIFIC INVESTMENTS DAC, EXERCISED AN OPTION TO REQUIRE COMPANY TO ACQUIRE 400 HECTARES OF PLANTATIONS
* SETTLEMENT OF PAYMENT OF PUT OPTION PRICE IS REQUIRED TO TAKE PLACE ON 2 FEBRUARY 2018
* COMPANY DOES NOT HAVE FINANCIAL RESOURCES AVAILABLE TO IT TO PAY PUT OPTION PRICE
* CO & NOTEHOLDERS WERE ENGAGED IN DISCUSSIONS WITH A SEPARATE CONSORTIUM OF POTENTIAL INVESTORS ABOUT AN ALTERNATIVE TRANSACTION
* DIRECTORS RESOLVED TO APPOINT RICHARD TUCKER, SCOTT LANGDON AND JOHN BUMBAK OF KORDAMENTHA AS VOLUNTARY ADMINISTRATORS OF CO
* UNDERSTANDS THAT RECEIVERS WILL FURTHER EVALUATE RESTRUCTURING AND SALE ALTERNATIVES, INCLUDING A POTENTIAL RECAPITALISATION OF BUSINESS