Head of Australian sandalwood firm readies bid for own company

Sydney

AUSTRALIAN sandalwood plantation group Quintis Ltd said on Tuesday that its managing director has resigned and will consider making a takeover offer for the company together with an unnamed international group.

The move follows the publication last week of a highly negative report by short-seller Glaucus Research Group that knocked shares in Quintis down 24 per cent, taking its market capitalistion to A$430 million (S$456 million).