Nmc Health Share Discussion Threads

[hsdeo1] 04/3/2020 14:11

smartie - yeah been on the new Marmite and Peanut Butter with my crackers for brunch.

[dragonheart1] 04/3/2020 12:09

Bond price is going up! Takeover news is imminent! F0ck the doom mongers!

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
Rule 8.5 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Name of exempt principal trader:
(GS) GOLDMAN SACHS INTERNATIONAL
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:
Use a separate form for each offeror/offeree
NMC HEALTH PLC
(c) Name of the party to the offer with which exempt principal trader is connected:
GKSD INVESTMENT HOLDING SA (A COMPANY BACKED BY SPONSORS OF GRUPPO SAN DONATO)
(d) Date dealing undertaken:
03 March 2020
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
N/A

2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security
Purchases/ sales

Total number of securities
Highest price per unit paid/received
Lowest price per unit paid/received
Convertible bond 2025
Sales
2,800,000
58.5000 USD
57.1250 USD

[smartie6] 04/3/2020 11:37

Hsdeo, what have you been taking today? Sounds like pretty hard stuff.

[hsdeo1] 04/3/2020 11:33

Being kicked out of ftse100 due to new Market Value - nothing to do with how they are on a positive footing to get the problems sorted. Who knows being in ftse250 they will then get the incentive to get back to ftse100. Losing face is defo a no no in the Arab world. They will fix this!!

[nael2020] 04/3/2020 11:03

so its not that big harm to be in the FSTE 100 when will be sorted out

No worries

[nael2020] 04/3/2020 11:01

Following months of turbulent trading, NMC Health, Tui and Kingfisher are all set to lose their spots on the prestigious FTSE 100.

They will be expelled from the blue-chip index this month in the next reshuffle, which is based on last night's prices.

FTSE Russell conducts a reshuffle every quarter to ensure major indices contain the biggest firms by market value

[smartie6] 04/3/2020 10:57

Good news if you’d been shorting. That said they still need to close.

[uwinsomeulosesome] 04/3/2020 10:48

Booted out of the FTSE 100 - not good news.

[onehanded] 04/3/2020 09:54

Yes very worried shorters

[smartie6] 04/3/2020 09:47

I’m not. I didn’t buy in to the bullshxt. Even though it was plastered on every adventure bulletin board.

[lodgeview] 04/3/2020 09:44

A hell of a lot of worried people on this board...

[smartie6] 04/3/2020 09:13

Will it open again?
Big question.
Smart money appears to be 95:5 against but I guess DYOR.

[lodgeview] 04/3/2020 08:59

onehanded are you quoting a source? If so link please?

[jasonblue66] 04/3/2020 08:56

That would go to understand why major shareholdershave dramatically reduced their shareholding. I believe moves are well underway in taking over all or the majority of their share holdings.

[onehanded] 04/3/2020 08:43

'UAE has 16 virus cases and NMC health gets boost from the government in financial support to treat and prepare for an outbreak. ALL staff have been paid and it would appear the crisis for the company is nearly over and should soon see this trading at a health share price ' We will see!!!

[mattcookson] 04/3/2020 00:49

From Gulf News:

UAE’s NMC Health CEO gets to work on debt and paying salaries
Deals with lender banks can give healthcare operator some much needed time

Published: March 03, 2020 07:26
Manoj Nair, Associate Editor

NMC Hospital Royal
One of the crown jewels in NMC Health's portfolio - the NMC Hospital Royal in Abu Dhabi.
Image Credit: Gulf News Archive
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Dubai: Michael Davis is having a busy first week as the new (interim) CEO of NMC Health, the UAE’s largest hospital operator and now facing the fight of its life to nurse itself back into financial health.

First up, NMC Health confirmed that it will be asking lender banks to go easy on debt repayments owed to them. The Abu Dhabi headquartered group’s combined debt exposure is upwards of $2 billion, announced at the time of the 2019 half-yearly results. Banking sources say some of it has been paid back.

If the banks agree – and the chances are they will – to not press on payment obligations, NMC will achieve an “immediate stabilization of the group’s financing”. More importantly, it will buy precious time for the company.

Davis is uniquely placed to oversee the high stakes negotiations with lenders and other stakeholders. Before joining NMC as Chief Operating Officer, he was holding a top positon at TVM Healthcare, a private equity fund that specializes in healthcare-related businesses.

“The CEO is a “people’s person” – employees can see him as being completely transparent in his dealings with them,” said an official who knows him well. “In the last 7 days, he’s been working 16 hours a day… trying to save the company.”

[mattcookson] 04/3/2020 00:47

GK in talks with Mubadala re takeover offer!

From Bloomberg:

Italian Investor Seeks Partner to Bid for Troubled NMC
By Dinesh Nair , Archana Narayanan , and Mahmoud Habboush
March 2, 2020, 5:34 AM EST
Updated on March 2, 2020, 6:46 AM EST
San Donato-backed group approached Mubadala for joint bid
Group has until March 9 to make an offer for health-care firm
A pedestrian walks past the NMC Health Plc Royal Hospital in Dubai, on March 1.
A pedestrian walks past the NMC Health Plc Royal Hospital in Dubai, on March 1. Photographer: Christopher Pike/Bloomberg
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An investment company linked to Italy’s largest private hospital operator is seeking a partner to bid for NMC Health Plc, the Middle Eastern health-care company being investigated by the U.K.’s financial regulator over fraud allegations, according to people with knowledge of the matter.

GKSD Investment Holding SA approached Mubadala Investment Co. about becoming an equity partner, the people said, asking not to be identified as the matter is private. The news comes as NMC asked lenders for a reprieve on its debt and Moody’s Investors Service slashed its rating by five levels, saying its financial statements can’t be relied on.

[dragonheart1] 04/3/2020 00:21

This might not all be that bad as shorters are portraying it here, this could well be a very smart move of NMCs part, suspend the shares, get all the bad news out and their house in order and with at least 3 confirmed takeover bidders in the mix currently, come back with a vengeance at the end of April. This could easily open at least 50% higher at the end of April! Especially with huge takeover interest in this high growth healthcare business, it happened at AA and share price suspended at 229 and now trading at 1850, go figure!!

The NMC simply provided a contractual guarantee in case of non-payment or default in case companies owed by related parties weren't able to meet their contractual obligations to credit providers. These balances were approx $335m at the end of the year. Nothing unusual if you think about it, companies do it all the time. The only problem is that this hasn't been approved by the board and contingent liability as they call it disclosed in the notes to the accounts. Normally those disclosures give the users of the accounts an estimate of the potential financial effect and better understanding of any associated risks. This doesn't, by any means, mean that the company owes $335m. As long as the entities owed by the related parties pay their debts, which they are, there is basically no financial impact. The facilities will also "no longer be made available for further supplier financing" so no future impact possible. It could be as simple as a guarantee and support for the smaller entities with no sufficient credit rating & cash flow available in order to enable them to grow quicker & operate on the higher level. There is no mention of any defaults & inability to pay obligations by those businesses. They may as well be operating successfully and running at a profit. Plus their stock is under lock down, which can be used to pay for any potential debts. Obviously the guarantees should have been approved by the board & disclosed in accordance with the Listing Rules. This will come back with vengeance, when it comes out of suspension in April IMO

[dragonheart1] 04/3/2020 00:20

Seems like market liked the RNSs yesterday and the fact that things are becoming clearer as Freeh is going through stuff and with 4 takeover bidders interested (Rasmala, Mubadala, GK and Ithmar), things could turn around fairly quickly here! IMHO this will open UP when it comes out of suspension in April.

[lodgeview] 03/3/2020 23:11

It just is.

[pione3r] 03/3/2020 23:06

How is it officially over?

[lodgeview] 03/3/2020 23:01

It's officially over