	hrs ihirf reducing stake in hal roach hrsi international h r s industries inc said it would reduce its stake in hal roach studios inc to pct from pct in return for mln u s dlrs from qintex inc s qintex america media ltd unit h r s said that under the deal s first stage closng march it would sell qintex hal roach shares at seven u s dlrs a share each for a total of mln dlrs and roach will repay h r s mln u s dlrs of advances qintex will also complete the mln u s dlr buy of mln roach treasury shares at seven dlrs each and provide roach with mln u s dlrs of financing for expansion h r s said h r s said that the agreement also provided for a second stage over one year in which it had a put option exercisable one year from closing to sell qintex all or part of its two mln roach shares for u s dlrs a share it said qintex had a day call option exerciseable nine months from closing to buy from h r s all or part of one mln roach shares at the greater of dlrs each or the average roach share price for three months before exercise date qintex will also uire another mln roach treasury shares at seven dlrs a share months after closng for another mln dlrs h r s said reuter 
