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Qintex agreed to buy more Hal Roach stock.

January 12, 1987

Qintex America Ltd., a unit of Qintex Ltd. of Australia, said it has agreed to buy 900,000 shares from International HRS Industries, with the option to purchase up to an additional 2 million shares for 12 months following the deal, representing HRS's entire stake. Last week, Hal Roach Studios agreed to issue 4.8 million shares to Qintex during the next 12 months for a total of $34 million. If both transactions are completed, Qintex will own more than 50% of the studio's common shares.

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