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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nmc Health Plc | LSE:NMC | London | Ordinary Share | GB00B7FC0762 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 938.40 | 940.00 | 941.60 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
22/1/2024 19:17 | The Administrators' Report to 8 October 2023 was filed 14 November and for shareholders appears to make the same baleful reading; check it out for yourselves and read earlier posts. "As outlined in previous reports, in March 2022 the High Court of Justice, Business & Property (Chancery Division) granted a 36 month extension to the period of the administration, which is now due to complete on 8 April 2025. Given the agreed trial timetable for the EY claim, which states that the trial will not commence prior to 21 April 2025, we may require a further extension in the future. If required, we will make the necessary application to the court." -p.4 "3.4 Shareholders Whilst the final position in respect of asset realisations and unsecured creditor claims remains uncertain, we do not currently anticipate that there will be sufficient funds available to allow a distribution to shareholders." - p.11 "4.2 US Class action" on p.13 might be worth reading concerning moratorium on proceedings against NMC in the USA and stay of certain class action proceedings there against others e.g former directers. Presumably nothing new as it refers to 2022. | triskelion | |
02/1/2024 13:26 | Hi all, Yes I think lots watching in the background. Wayne | waynesplash | |
02/1/2024 09:29 | Xkongkudu Thanks for the update, not many posters on here, but I'm sure lots of watchers in the background. Any news please do all keep posting Happy New Year | diverzeusy1 | |
02/1/2024 08:14 | XkongkuduThanks for your response.Any updates will keep the candle still burning in hope for some good outcome. | vas007 | |
14/12/2023 11:41 | Vas I did email the two solicitors handing the case against nmc but no response. I think the main thrust of their claim is that the auditors were negligent in signing off year end accounts which seems logical. If I was handling the claim i’d also look at widening the lawsuit net to potentially join-in their bankers and other parties who may also have fallen asleep at the wheel and not picked up the massive fraud going on. | xongkudu | |
10/10/2023 08:29 | Please do let us know, I am also a victim of this. | vas007 | |
06/10/2023 10:01 | Wayne I’m on the case. I’ll let you know what I find out. | roundtheworld | |
05/10/2023 22:18 | Hi, Not sure, wish I did, as I would love to be part of doing something. Wayne | waynesplash | |
05/10/2023 21:02 | Who is bringing the claim and do shareholders who lost money need to notify them to be included in the proceedings? | roundtheworld | |
02/8/2023 21:00 | Unfortunately if EY are looking like being liable at ALL, I feel they will probably just fold into administration bancrupcy etc. before the outcome, as most big players do, all the same, ripping off the little people 🙄 | diverzeusy1 | |
01/8/2023 23:30 | "The litigation process in relation to the Company's claim against its former auditor, Ernst & Young LLP ("EY") is continuing. EY filed its defence on 14 October 2022 and the parties attended the first Case Management Conference ("CMC") on 20 and 21 March 2023. Following the CMC, the pre-trial timetable has been agreed between the parties and it has been agreed that the trial will not commence prior to 21 April 2025 (Section 2 Strategy and progress of the administration to date). ... As outlined in previous reports, in March 2022 the High Court of Justice, Business & Property (Chancery Division) granted a 36 month extension to the period of the administration, which is now due to complete on 8 April 2025. Given the agreed trial timetable for the EY claim, which states that the trial will not commence prior to 21 April 2025, we may require a further extension in the future. If required, we will make the necessary application to the court. -pp3/4 administrator's progress report dd 15 May 2023 already linked to above (Companies House). As previously noted the question is whether the above impacts the likelihood of returns for shareholders or not. (p.11 of the report suggests not if read in isolation). Hence my previous post. | triskelion | |
01/8/2023 23:10 | I am with you jonnybig, but what can we do ??? Wayne | waynesplash | |
01/8/2023 18:11 | I've had a reply from the administrator's representative but at a glance it doesn't materially alter the position as relayed above referencing the 15 May progress report and it doesn't say I may reproduce or publish it. Anyone wanting clarification might best try emailing or phoning the contact/s at the link above viz hxxps://www.ips-docs Without going into more detail (or extending vain hopes) the action by Fidelity mentioned by m w above seems premature. | triskelion | |
27/7/2023 16:12 | I remember reading somewhere that they intend to sue the hell out of the auditors (and why not? They missed 4 billion debt!!!!) But whether it's the same scale as Arthur Anderson many years ago which destroyed them,remains to be seen. If I make a bad judgement call re my investments and lose,then fair game. But I got defrauded 3 grand with the nmc scandal .it's as bad as being robbed so somebody needs to be brought to account and get locked up! | jonnybig | |
27/7/2023 15:30 | hxxps://www.ips-docs Reference, contacts etc. Given the varying broker infos/treatment you could try emailing but who knows if you will get any reply, though an announcement by the administrators would help clarify, even if just to say no change since the 15 May admin progress report. Or whatever. Page 4 of the admin prog. rep. also says they may apply to extend the admin period given the action against E&Y will not begin before 21 April 2025 - but on page 11 it remains as before - no current expectation there will be sufficient funds to allow a distribution to shareholders though "the final position in respect of asset realisations and unsecured creditor claims remains uncertain". Whether that is factoring in any estimated returns from (assumed successful) litigation - dunno. | triskelion | |
23/7/2023 10:45 | My shares have been removed from my trading account with fidelity I am assuming that's the end of it. | m w | |
21/7/2023 13:03 | The progress report states the administration won't complete until 8 April 2025. | jonnybig | |
20/7/2023 01:51 | I asked another broker and they replied a few days ago that they had received no update from administrator further to the filed progress report dd. 15 May 2023 so now I have no idea what current status is. I've never contacted an administrator before and w/o checking have no idea if they wd be obliged to reply to a shareholder. I suppose anyone could ring up Alvarez & Marshal Europe LLP and ask! Anyone heard from any broker with news seeming to update or contradict the filed progress report dd. 15 May 2023? | triskelion | |
19/7/2023 12:02 | Thanks for the information. Please keep us all updated, it will be much appreciated. | vas007 | |
06/7/2023 00:40 | A confusing update in this matter. Latest Administrator's progress report dd. 15 May 2023 at states on page 11 "3. Dividend prospects and dividends paid. 3.4 Shareholders Whilst the final position in respect of asset realisations and unsecured creditor claims remains uncertain, we do not currently anticipate that there will be sufficient funds available to allow a distribution to shareholders." So no change from previous filings. Yet on 5 July I received from my broker a message to the effect "there is a possibility of further distributions [sic] back [sic] to shareholders, which indicates there is still value remaining in the shares.... No timeline for any potential distributions to holders is yet available...." Has anyone received a notification from brokers and if so to what effect? Obviously as unlisted, no RNS; and per the Companies House url above the Administrator's Progress report filing in May is the most recent intelligence disclosed. | triskelion | |
23/3/2023 14:05 | Latest administrator's (fifth) progress report to October 2022 so presumably the next should be coming in a month or two. From page 10 of the pdf: "3.4 Shareholders Whilst the final position in respect of asset realisations and unsecured creditor claims remains uncertain, we do not currently anticipate that there will be sufficient funds available to allow a distribution to shareholders." HMRC has still not recognised the ordinary securities as being of negligible value. This has gone beyond benign Micawberism that "something will turn up" and is now starting to look perverse and capricious. | triskelion | |
08/10/2022 13:47 | My other brokers have been a bit more reserved and basically said the administrator's reports are filed at Companies House so trace them there; meantime they are keeping the securities showing in accounts. This looks like it for NMC Health Plc (in administration): Document: Administrator's Progress Report, 10 May 2022. (Annoyingly, not OCR'd, just image file). p.12 "3.4 Shareholders Whilst the final position in respect of asset realisations and unsecured creditor claims remains uncertain, we do not currently anticipate [sic] that there will be sufficient funds available to allow a distribution to shareholders." In the preceding section about unsecured creditors it says: "Our investigations are ongoing and complex and, based on the inherent uncertainty in the financial position of the Company, we consider that a meaningful estimate of the timing and quantum for an unsecured creditors dividend cannot be made at this time." HMRC's list is supposed to be of assets of "negligible value" including formerly listed securities, not assets of "zero value". Maybe they should be reminded of this fact, and given the administrator's remarks above about shareholders, not try and string it out a la Jarndye v Jarndyce based on the preceding remarks concerning unsecured creditors. "What 'negligible value' means For tax purposes there is no accepted definition of 'negligible value', but generally it applies to assets that have become worth next to nothing while someone has owned them. Assets cannot have been of negligible value when you acquired them, they must have become of negligible value while you have owned them. How to make a negligible value claim If you can give evidence to HMRC that shows that your assets no longer have any value since you acquired them, you may be able to make a negligible value claim. You can use this to realise a loss to reduce your Capital Gains Tax liability. Make a claim by either: writing to your tax office entering a negligible value on your tax return Your tax office may ask the Shares and Assets Valuation team to consider your claim." Whether or not HMRC accepts a negligible value claim at this time, I wonder if there is more danger in not submitting the claim now (year 2021-22 seems appropriate)...? | triskelion | |
16/9/2022 21:14 | Your broker knows! (well maybe). Still not on HMRC's list: though presumably they're hoping taxpayers haven't noticed and they will continue to string it out till stonewalling becomes too embarrassingly obvious...?! My broker says currently (omitting the somewhat garbled account of what purportedly they learned from administrators) "The shares will be removed from accounts in due course. . . ...it is extremely unlikely that there will be any value returned to the shareholders of PLC as a result of the Administration and the Administrators do not believe that the shares will be re-listed...". Mind, they first said something similar about 6 months ago, as I posted on 29 March! If there were to be any recovery it would presumably be from a class action against the auditors. If so, expect Jarndyce v. Jarndyce scale chronic litigation. I sort of lost interest in trying to find anything on that aspect of the matter 18 months ago. | triskelion | |
16/9/2022 17:53 | How long will the ticker keep showing on my trading account as its a depressing sight. | beerboy02 |
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