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Quickflix says HBO remains committed to the company

  • IF.com.au
Troubled DVD rental house Quickflix has explicitly denied The Weekend Financial Review.s claim that major investor HBO could force the company to repay a $10 million investment by the end of the year.

Quickflix, which is in the midst of a cost-cutting restructure after facing a severe cash shortfall, said the Afr article.s claim that a recent board exodus constituted a liquidation event, giving HBO the right to redeem funds within 40 days of the departures, was wrong.

.Recent changes to the Quickflix board do not constitute a liquidation event and the company confirms it has since received HBO.s acknowledgment that even if such a right existed that it would not enforce it,. Quickflix said in a statement to the Australian Securities Exchange. .Quickflix confirms that the board and management have the full support of its investor HBO to execute the restructuring plan already advised to the Asx in
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