Nmc Health Share Discussion Threads

[damp seaweed] 08/4/2020 16:44

silverstone1: FRAUDULENT COMPANIES ALWAYS COLLAPSE!
...........................


Is that how you ended up sad and retired?

[zammo_1] 08/4/2020 16:35

I’m sure there will be blood as bond holders, creditors and preferential shareholders scramble with a few large institutions out of pocket.

I would think there is likely to be some rescue deal as it’s the largest healthcare operator in the UAE.

Lessons learned if there are no prosecutions could suggest anyone and can do this.

[silverstone1] 08/4/2020 16:33

IT'S NOT A SHAME AT ALL BECAUSE AS I ADVISED EVERYONE IN DECEMBER; FRAUDULENT COMPANIES ALWAYS COLLAPSE!

[damp seaweed] 08/4/2020 16:25

That is is such a shame on so many levels. Obviously for the shareholders, but also for all the other stakeholders.
I do wonder if some sort of prepackaged rescue deals has already been hatched. Unfortunately it will not be of any benefit to the current shareholders.

From my limited understanding of events it does seem to be a clear case of criminal fraud. I wonder if anyone will be prosecuted and by whom.

[goliard] 08/4/2020 16:06

Sorry to hear it karateboy. I feel particularly sorry for those who held before the Muddy Waters report came out as they have been properly screwed over.

[karateboy] 08/4/2020 15:46

£200k from my SIPP gone. Another 5 years added to my retirement date. This will give time to Look forward:
1. attending court hearing where these crooks hopefully will be sentenced to long prison sentences and
2. Having achieved above be part of PI suing these rich crooks in civil courts for damages...
3. Compensate my SIPP loses

Anybody has any better investment let me know!

Cheers until we meet again!

[monte1] 08/4/2020 15:22

Game over for equity holders.

Sincere condolences.

[epiwarley] 08/4/2020 15:19

NMC Health plc(the "Company" or "NMC")Statement regarding administration application by Abu Dhabi Commercial BankThe Company refers to its announcement on 6 April 2020 concerning the application by Abu Dhabi Commercial Bank PJSC ("ADCB") for the appointment of administrators in respect of the Company at a hearing scheduled for 9 April 2020.The Board has written to the Court indicating that, notwithstanding strenuous efforts to address Creditors' concerns, it has not been able to secure their alignment and support and has been advised by its counsel that it is not in a position to oppose the application successfully. Accordingly, it expects the Company to be placed into administration in due course.

[nael2020] 08/4/2020 14:14

hxxps://www.thenational.ae/business/markets/nmc-health-chairman-pledges-relentless-pursuit-to-recover-money-1.1003419

[karateboy] 08/4/2020 11:04

Thank you for observing the 1 minute silence.

[karateboy] 08/4/2020 09:58

Let's have a minute Silence at 11 am and pray for NMC shareholders as tomorrow is approaching fast.

[inaminute] 08/4/2020 09:44

Same here DS. I think the two main differences between us and him are 1) we're happy 2) we can use a keyboard.Never had any shares here but just get sick of these weirdos cropping up on the boards at such times.

[zammo_1] 08/4/2020 09:40

And many employees being in UK business for years before becoming a CEO is not necessary the answer! Good examples are the top tier Construction businesses, RBS etc

[damp seaweed] 08/4/2020 09:28

Most CEO’s have a limited shelf life for obvious reason:
Quote;

A new CEO was hired to replace an outgoing CEO. The outgoing CEO met with the incoming CEO for an exit interview. During the discussion, the departing CEO stated he had placed 3 very important letters in his drawer just as his predecessor had done for him. He explained that the new CEO would find opening the letters in order most useful when a serious event took place. He also stated the letters left for him had really helped him over his tenure.

Several months passed before a major event came up. The new CEO now remembered the letters and noticed they were numbered 1, 2, and 3. The former CEO had instructed they be opened in order for maximal benefit. The new CEO opened letter #1 and the paper inside had the words “blame it on your predecessor.” The new CEO did as the letter stated and amazingly he was able to avert serious problems and keep his job.

Several months passed before the next serious event took place. This one was growing in magnitude and things were starting to get ugly at the company. There were even calls for the CEO to step down. In desperation, the CEO opened the drawer and pulled out letter #2. With great fear he, opened it carefully to read the word “reorganize.” He followed the instructions and just as before he was saved. The whole company quieted down and went back to business as usual.

After about a year, a third serious event took place and it was much worse than the rest. The CEO knew how to get out of the mess because he had a third letter left to open. With a smile he reached for the letter #3 and opened it to read “write 3 letters.”

[goliard] 08/4/2020 08:55

Wrong again Zammo as this is a UK company and CEOs here stay in the job for about 4 years which is almost the same as an average person does. Also many CEO have been with a company for years before being CEO

[damp seaweed] 08/4/2020 08:28

Silverstone, I retired at 52 many years ago. Big deal. And I actually did something useful for a living. From an investment perspective, my biggest mistake was to trust an IFA with some of my savings.

[zammo_1] 08/4/2020 07:53

Yes and if you are major shareholders then you can vote to get rid of the board, hence why average shelf life of CEO’s in US corp is 2.5 yeas. If they don’t protect shareholders interest the value drops and drops the board will go!

[goliard] 08/4/2020 07:00

That is not correct Zamo. The boards duty is to protect the interests of the company. That is sometimes the same as shareholders interests but often it is not. One example is paying a dividend. If you have large shareholders who are income funds they will threaten to sell if a dividend isn't paid and demand it is paid but sometimes the board has to refuse because it is not in the company's best interest to pay it.

[nael2020] 08/4/2020 06:08

hxxps://audioboom.com/posts/7550325-what-does-the-future-hold-for-nmc-health

[zammo_1] 08/4/2020 00:03

No the boards duty is to protect and improve shareholders wealth. If you have stock then your a shareholder! Simple

[silverstone1] 07/4/2020 22:06

FAIRLIGHT, I AGREE WITH YOU THAT THIS BB BOARD IS FOR AMATEUR TRADERS, THEREFORE, I TRIED TO AVERT AN OBVIOUS ROAD CRASH AND CAPITAL LETTERS ARE MY TRADEMARK!

[fairlight] 07/4/2020 21:41

Silverstone If I had more money than I could spend I would not waste my time on a BB board for amateur traders and neither would a retired stockbroker!.

PS can you please pay someone to show you where the caps lock is and TURN IT OFF - many thanks.