Frank Wilson, the managing director of Quntis
(ASX:QIN), has resigned suddenly to potentially partner with an “unnamed international corporation”.
The ASX sought clarification from Quintis, and the Indian sandalwood company says it doesn’t know who this unnamed” corporation is.
Mr Wilson says he was recently approached by a “well-funded credible party” – and may buy the shares in Quintis that he doesn't already own.
Quintis recently changed its name from TFS Corporation and confirmed it hasn't received any proposal from Mr Wilson, or any parties he intends to partner with. Quintis also says it doesn’t know what the potential terms and conditions could be if an acquisition proposal were made.
Yesterday, Quintis shares closed 13.64% higher at $1.25.
