Nmc Health Share Discussion Threads

[dudishes] 14/3/2020 10:48

monte1 - On the button Sir.

I warned this bb, think it was 21st Feb (I had closed my short prior), that suspension was likely, it happened. I read Muddy Waters!

For those that did not listen, quite possible a bailout, but the end price for you, close to zero?

Seems no offers on the table at the moment, debt obviously a major issue.

Fraud or not, money missing, that's a damn large red flag!

[monte1] 14/3/2020 10:36

Good luck with that.

Don’t rely on it though.

[nael2020] 14/3/2020 10:06

I hope the UAE authority will step in ,changing the company ownership and keep the right of the share holders

[monte1] 14/3/2020 09:51

The only part that is complicated is working out who did what, how much was involved and where did the money go - and, of course, how can it all be proved, how can the legal process be invoked to commence proceedings against wrongdoers and what chance of recoveries can be achieved. After that long and costly process, any funds recovered will firstly go to any statutory and secured creditors. Only when these debts are satisfied will shareholders be considered.

[monte1] 14/3/2020 09:46

It is actually very simple AFAICS

Debts and liabilities are far in excess of assets and there seems little probability of trading out of that position therefore equity is worth nothing.

Cash and receivables has been overstated.
Asset valuations relating to acquisitions are suspected of being overstated.
Debt and liabilities massively understated,

Not much to like there.

[nael2020] 14/3/2020 09:43

Finally I would like to thank all the participants for the respectful level and method their attitude and communication

I wish all the best for all

[kemche] 14/3/2020 09:42

It is that easy! The money has gone. Why do you think the shares were "pledged" and then sold off?

[nael2020] 14/3/2020 09:38

I think you dont realise it that all of us considered as share holders whether you hold small shares or big stake in the company, all of us will be subject to the same decision.

if we can give up because we are small share holders and have got nothing to do so , the other big stake investor they are empowered and will never keep quite .

finally what will apply on the share holders will apply on all of them , its very complicated matter and not that easy

[monte1] 14/3/2020 09:27

Yes - and more more fool them. There were more red flags here than in a Kremlin souvenir shop.

[nael2020] 14/3/2020 09:20

Do you think the shares of Mr Sajwani, Trump friend and the other will be wiped out easily , for you information even the barckly , other global banks and world wide investments companies they have bought stake of shares in the NMC recently

[monte1] 14/3/2020 09:18

Oh right, so the image they want to cultivate is ‘come and do business here, abandon governance, commit fraud but don’t worry, we will bail everyone out and make good losses’. That would be a hell of a message to put out there.

The fundamental principle of share ownership is that to reap the reward you accept the risk. Any shareholders remedies will be against those who caused the harm by negligent or fraudulent actions.

[nael2020] 14/3/2020 09:12

No, the share holders will be rescued as well. not for the sake of their eyes but for the sake of the Emirati share holders and for sake of UAE image.

[monte1] 14/3/2020 08:59

I agree Nael2020 - some or all of the assets will be rescued to provide ongoing medical and care services for its customers. However, the business, and the equity share of that business will not, imco, survive.

[nael2020] 14/3/2020 08:56

believe me I feel this company will be rescued and recovered in one way or other , its quite globally abroad NHS organization

[karateboy] 14/3/2020 08:32

Neal...I will add to your list fradulent activities on the UAE door steps which prevented other investment institutions to take this company over. How could they let this important company to go to the wall because of fradulent activities of UAE expat and possibly UAE financial institutions. I am not expecting to get my investment back when the company relisted, but I am not expecting either to loose £200k by fradulent activities of UAE expat...and UAE washing their hands of this important service company. If it wasn't for fradulent activities this company would have been taken over by now. Assets are real, cash flow is recurring , the only thing is we don't know where our money's gone.

[jasonblue66] 14/3/2020 08:19

I like to think once the dust has settled, they will find away of ring fencing the fraudulent debt, new buyer underwrites the debt with a view of determining who is actually liable, is the debt actually NMC, and start work on recovering which is recoverable, and let NMC get on in with running the business with a clean a clean sheet,It will b very interesting on the last quarters figures along with the past years

[nael2020] 14/3/2020 07:43

I am pretty sure is no over for simple reason, first, if it was subject for bankruptcy they should have proceed the process of insolvency in the first day of the suspension
Second, the UAE authority will not let the shares of the UAE sheikhs wiped out that easy specially the shares of the UAE sheikhs.
Look and review to the investments certificates and you will realize the size and the billions values of the investments associated with the national and international companies even during the suspension time , I think these investments companies they are not that stupid
They UAE Authority is no going to risk it for couple of billions to rescue the potential profitable NMC
In all cases, the weight of NMC rescue has got more positive impact comparing with the consequences of bankruptcy .
Sooner or later the NMC will be in the market again , it’s just a time matter

[karateboy] 14/3/2020 07:22

I won't be surprised if the lenders who provided the declared 2b dollar credit are the same who provided the other $3b undeclared and fradulent credits. So we need to know who the creditors are?

[karateboy] 13/3/2020 22:07

I agree . Things hopefully will get sorted. UAE has to take a bit of responsibility for fradulent activities on their door step.

[dragonheart1] 13/3/2020 21:25

Silverstone - that’s a bit of an overreaction isn’t it?? Keep you knickers on sweety and pipe down! I still feel all is not over yet. These will trade again and recover! Only time will tell! Things could really turnaround here, new board, CEO, rescue by Mubadala and UAE gov, debt liability lies with shetty and Butti’s, takeover bid from one of the 4 interested parties since mess clears. If board didn’t know anything of it and didn’t approve it, and most likely shetty and his buddies used that money to fund other companies and fill their pockets, how is this debt legal??? Don’t think NMC is liable for it, it’s a fraud and surely they need to sell Shetty and Butti’s other companies/assets and payback the banks that money. Also, why would lenders lend such a huge amount without proper due diligence and board approval??

[silverstone1] 13/3/2020 21:15

GOLIARD, NOBODY KNOWS WHEN OR IF IT WILL TRADE AGAIN OR WHAT PRICE, ARE YOU STUPID? I'M 100% CERTAIN IT WILL NOT TRADE AGAIN!

[dragonheart1] 13/3/2020 21:13

What do you mean Kemche?

[kemche] 13/3/2020 20:53

Straw anyone?