Nmc Health Share Discussion Threads

[nael2020] 28/3/2020 12:58

I confirm it again , NMC has got potential as it will be funded and relisted it its just matter of time

[karateboy] 28/3/2020 12:13

Goliard, your post confusing, Are you saying Butty brothers who transferred their shares to ithmar had/have controlling shares in isthmar company?

[goliard] 28/3/2020 11:55

Just to add that Ithmar is a company controlled by two existing shareholders who previously had very large stakes disclosed, so this is probably not a purchase of shares at all by them.

[goliard] 28/3/2020 11:49

It is far from clear if they bought them or if it is part of working out where Shetty’s shares really ended up. Even if they did buy them you don’t know what, if anything, was paid for them. I am not convinced that there is zero value in the shares right now and they might come back but with a massive drop in price. The problem will then be that they will require financing unless they can show that they are genuinely profitable as nobody will believe historic accounts until after a full investigation. My guess is administration with someone picking up the assets and then money used to pay back creditors and then a long series of legal actions trying to recover money. What is obviously nonsense but some on here believe or at least write, is that the government in the UAE will simply give shareholders their money back. That is naive, but I guess it is nice to live in hope for a while.

[ham74] 28/3/2020 11:33

Then why has ithmar bought 9pc

[goliard] 28/3/2020 11:12

When you buy the assets, which is what happens with administration, the new owner has no liability at all for any previous actions or debt as it is a new legal entity. That is why nobody will simply buy the current shareholders out even at a low price as they would retain all liabilities if they did that.

[ham74] 28/3/2020 09:34

A key question is whether threat of litigation from shareholders would force any new owner to offer them something. Does liability end with former management and board or is it carried over to a new entity?

[harrida5050] 28/3/2020 08:51

I get there is always risk as a PI but in this type of scenario where there has been misrepresentation of accounts and fraud is there any likely route that could be taken to raise claim against any parties? Or is it simply down to the company to chase via authorities etc?

[technovator] 28/3/2020 06:33

Do we know who the beneficiaries are of the suspected fraud at NMC yet?

[karateboy] 28/3/2020 00:06

important part of the latest RNS:
'The Board has decided that the appointment of an Executive Chairman based in the UAE is appropriate given the challenging period the Company is facing at the current time as it reviews previous financial irregularities ( yes all crooks live in UAE), discusses its debt position with its lenders' ( yes all lenders behaving very badly are based in UAE)

'The Board considers this appointment as strategic ( yes strategic to whole of UAE to clean this fraudulent activities under their nose and get NMC listed again with good governance) to ensure that NMC's position as the leading private healthcare provider, and a key component of healthcare infrastructure in the GCC, is protected.'

So I believe NMC will remain a private company and will be listed again as a totality.

[karateboy] 27/3/2020 17:44

With Butty brothers were told to transfer out their 9 % holding! next is Dr Shetty . I am not sure if he has any?

[nael2020] 27/3/2020 13:10

I think the effect of coronavirus already started because some of sick people here started taking nonsense , I think they are in coma , really they need to be isolated in case of they will infect the other

[monte1] 27/3/2020 09:40

Morning all.

You dodged a bullet there idoflykathy

[idoflykathy] 27/3/2020 09:18

Sadly there will be nothing left for equity holders. So. glad I didn't invest here. I was almost going to and then held off!!! Sorry for your loss lads

[zammo_1] 27/3/2020 08:27

I agree Nael

[ianmock] 27/3/2020 07:57

The big question is did all the staff get paid on time this month ????

[nael2020] 27/3/2020 07:52

To all depressing people here, you are not obliged to come here and depressing us with your negative view in spite of the good news, shareholders they had enough, if you have got any negative outlook please keep it for your self .

[karateboy] 27/3/2020 07:28

It is not only NMC will emerge , we are going to see Dr Shetty and his crooks in prison. Let's wait for FCA to complete his investigations and pass the file to Serious Fraud Office . Borrowing money from 80 institutions without declaring it to market as Ftsee 100 company and using it for your own benefit. If this is not stealing and serious fraud , then we need to pack and leave our money in the bank.

By the way Farrugia this is investors board , as some body with no financial interest in NMC you shouldn't be here lecturing us. Is that fair?

[farrugia] 27/3/2020 07:16

I'm sorry to say anyone with money here won't have anything left when this comes back to the market (if ever). Write it off guys.

[nael2020] 27/3/2020 05:43

NMC Health Plc - Board Changes
[...]

[nael2020] 27/3/2020 05:31

It seems to me , more like it the NMC will be emerged

[nael2020] 27/3/2020 05:08

The scenario of the NMC is clear enough
1- Ithmar capital group has bought 9% stakes of the NMC which enable them to vote
2- Replacing the CEO of the NMC with CEO of Ithmar group
3- They will replace the members of the NMC finance department with a new trust worthy members
4- The NMC company will be funded by private or public UAE authority fund, because they are sure the fund is between safe hands

5- NMC company will be relisted

[urbanvoltage] 26/3/2020 23:20

hxxp://17recovery.com/

[monte1] 26/3/2020 20:27

Strip out intangibles and the debts were greater than the assets when the debts were stated as 2.5bn. Now the debts/liabilities are currently 6.5bn and climbing. And then there is the overblown asset valuations....