Nmc Health Share Discussion Threads

[monte1] 05/4/2020 18:00

Get real asusasus

[asusasus] 05/4/2020 17:57

For shareholders I mean.

[asusasus] 05/4/2020 17:57

urban do you think there is any chance at all that this could come good?

[urbanvoltage] 05/4/2020 17:24

"I only hope that the operational business can be saved, with a new ownership structure, for the sake of its employees and customers." I agree with that...I've written off my investment, I have no choice, the shares are suspended...I'm just speculating on the outcome of the story...one thing is for sure NMC isn't going anywhere and someone will end up owning it for a price.

[monte1] 05/4/2020 17:05

Indeed you did Silverstone1.

What do you do / did you do for a living?

[silverstone1] 05/4/2020 17:03

I ADVISED EVERYONE IN DECEMBER THAT NMC STANDS FOR NO MORE CASH!

[monte1] 05/4/2020 17:02

Flawed on every level.

The share price of £25 was based on a false premise.

Shareholders are not liable for company debts (are you really suggesting that some party/parties would seek to acquire worthless stock, pay billions of debt and then try and recover this from others).

Any purchase will be of the assets (or some of them) not the equity. Furthermore it will be at well below current book value.

The position is unsurvivable on a going concern basis. Debt (as it currently stands but could increase even further) is billions more than NAV and current NAV includes £1.5bn of non-recoverable intangibles.
There is no way that they can trade out of the position. In fact it is very doubtful if trading profits, when they are clarified, can even cover interest payments on the debt.

There will be covenants on the borrowings at this level - it may be a breach of which has led to the current action to appoint administrators.

ADCB is massively over exposed here - I am sure that it was reported that their debt here is something like 80% of their entire years profit. They need to recover what they can for their own business to survive.

Finally, any notion that NMC or someone acting on their behalf can quickly and easily recover billions of pounds lost as the result of ‘fraudulent217; activity, is wishful thinking. It will take years of legal wrangling and massive expenditure to establish and prove fraud and track down and recover any proceeds - if at all.

I only hope that the operational business can be saved, with a new ownership structure, for the sake of its employees and customers.

[urbanvoltage] 05/4/2020 16:59

It wouldn't surprise me if a bidding war breaks out albeit from a pretty low price. ADCB have thrown the first salvo.

[urbanvoltage] 05/4/2020 16:32

The other way out of this mess is for current shareholders, who do have access to money based on their wealth, to buy the company plus it's $4.5 Billion extra debt. At one point pre Muddy Waters when the $2.1 Billion debt was known about...the shares were valued at £25 ( market cap $5.2 Billion.) A bid by current owners for the shares they don't already own could be quite low...they then buy the company, honour the debt repayments....and chase the people who stole the money in the first place...Look at the people and companies that currently own NMC. I would be surprised if they roll over without a fight. Then I could have my money stolen three times!

[ham74] 05/4/2020 16:23

Unless corona crisis results in some exception being made for a healthcare company? Or ADCB withdraws it’s petition in response to Beloul’a olive branch? Both very unlikely

[asusasus] 05/4/2020 15:39

It's going into administration.

[ammu12] 05/4/2020 15:32

What makes you think you won't get your money ?

[asusasus] 05/4/2020 14:56

Ammu yes really.

[asusasus] 05/4/2020 14:49

Sorry for your loss urban. I've lost my entire life savings here!

[urbanvoltage] 05/4/2020 14:43

Khaldoon Khalifa Al Mubarak, newly appointed Chairman of ADCB, asks UK high court to call in the administrators on NMC and then Khaldoon Khalifa Al Mubarak, CEO of Mubadala or some other connected fund buys NMC off the administrators on the cheap with shareholders and junior debt holders being wiped out whilst saving the hospitals. It's not personal, it's just business. The price for this strategy will be international investors being pretty nervous about investing / lending to UAE companies for a while. I can't help but feel I've had my money stolen twice! Expensive lesson learned. No more shares...diversified tracker funds paying dividends henceforth...dyor

[urbanvoltage] 05/4/2020 12:13

I agree but unfortunately he is up against Khaldoon Khalifa Al Mubarak, Chairman of ADCB and CEO of Mubadala who American media have characterised as "one of the royal family’s most trusted advisers" and having "a close relationship with the Crown Prince Mohammed bin Zayed Al Nahyan." To be honest it doesn't look good unless there is a change of heart.

[asusasus] 05/4/2020 11:52

To give credit to Belhoul he is trying!

[urbanvoltage] 05/4/2020 11:44

Money lenders and Temple spring to mind.

[urbanvoltage] 05/4/2020 11:41

NMC EXECUTIVE CHAIRMAN ISSUES REJOINDER TO ADCB
“I call on ADCB to accept my invitation to participate in a transparent and open dialogue with all lenders, which I have advocated from the start, rather than imposing its will at the risk of jeopardising our operations.

“I want to make clear that I am fully supportive of ADCB’s calls for increased governance and am willing to make radical governance changes if and where they are merited. I have made it clear in my communications to them that there is an open invitation to ADCB to play a significant role in the restructuring of the company and that I am willing to appoint additional advisors who can bring value to this process.
"In similar vein, the previous management has been removed, and following my recent appointment as executive chairman, we are open to making appointments to augment the new board – including individuals from or recommended by ADCB and the other lenders. All of which I have made very clear in my communications to ADCB, which remain unanswered.

“There would be considerable downsides to the community, the country, the company and its creditors if we were to be placed into administration. NMC’s healthcare facilities and professionals are on the front lines of the fight against COVID-19. By repeatedly refusing invitations to participate on a prospective committee of lenders to decide on the best way forward, and by disregarding the principles of the informal standstill to which several significant fellow lenders have in principal been working with, ADCB is putting its own interests above not only other creditors, but also the health and safety of UAE residents amid an escalating pandemic.”

[urbanvoltage] 05/4/2020 11:33

The meaning of insolvency is simply an inability to repay debts, although the law isolates two main further meanings. First, for a court to order a company be wound up (and its assets sold off) or for an administrator to be appointed (to try to turn the business around), or for avoiding various transactions, the cash flow test is usually applied: a company must be unable to pay its debts as they fall due. Second, for the purpose of suing directors to compensate creditors, or for directors to be disqualified, a company must be shown to have fewer overall assets than liabilities on its balance sheet.(What is the value of NMC assets, at the moment I would have thought quite high.) If debts cannot be paid back to everybody in full, creditors necessarily stand in competition with one another for a share of the remaining assets. For this reason, a statutory system of priorities fixes the order among different kinds of creditor for payment.....ADCB clearly think that they are high up in that "statutory system of priorities". Unless the collective UAE government decide to bail NMC out and with it the banks, which they could, then I see little hope of shareholders receiving anything.....much to the delight of several posters here!

[dudishes] 05/4/2020 11:32

NMC; money gone!

[dudishes] 05/4/2020 11:15

Advice given, now get with it or get lost. To me, no bother!