Quintain this week confirmed fears that it would not be able to carry out its equity fundraising.The company told shareholders on Wednesday: 'Notwithstanding a very encouraging level of support shown by a number of major shareholders and new institutional investors,the company is not in a position to announce an equity raising.'Quintain said that with its advisers, JP Morgan Cazenove and Lazard, it would continue to take action to improve its financial stability.It added that it could accommodate further fallsin values of 10% before it breached its loan covenants, which have been extended from 110% to 150%.
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