Nmc Health Share Discussion Threads

[beerboy02] 18/5/2022 19:35

Ok many thanks I wasn't getting my hopes up. Just another notch in the corrupt system where directors get away .

[diverzeusy1] 18/5/2022 18:44

Beerboy2
In short ,No all is lost, the 'New NMC' is a completely different company that's evolved from the administration, from what I understand the Banks who also 'lost money' 🤔 have somehow wangled back into it, we poor mortals have lost it all 😢😢

[beerboy02] 17/5/2022 19:17

I've not been following the NMC saga even though I was an investor as i thought everything was lost, In your opinion after reading the FT article are you expecting any compensation for original share holders.Many thanks

[diverzeusy1] 12/5/2022 21:54

Thanks m w
But can someone please post the whole story as I'm not subscribed to ft.com
Or, just describe the main bits and effect on us, the loosers 🤔👍👍

[diverzeusy1] 03/5/2022 11:30

thank you monte1

[monte1] 03/5/2022 09:48

#10683

Unfortunately you cannot - as gains or income realised on any stocks held in an ISA are exempt from tax, any losses cannot be offset against CGT liabilities.

Tax and stocks and shares ISAs
Investments that pay interest (e.g. government and corporate bonds), or rental income (such as some property funds) provide 100% tax-free income if held within an ISA and therefore offer tax benefits for everyone.

All individuals are eligible for a £2,000 tax-free Dividend Allowance. The dividend allowance is in addition to your personal allowance, which is the amount you can earn each tax year before you have to start paying tax.

Dividends received by pension funds or received on shares within an ISA are tax free and won’t impact your dividend allowance.

Also, any profit you make when selling investments in your stocks and shares ISA is free of Capital Gains Tax.

Any losses made on your investments in your stocks and shares ISAs can’t be used to offset capital gains on your other investments.

[diverzeusy1] 03/5/2022 08:43

Advice please anyone who knows
My NMC where held in a tax free ISA
Can I somehow use the NMC loss against my self assessment tax return??
Thanks in advance 👍

[redbaron10] 30/4/2022 17:59

And EY say they will defend the action vigorously........can't wait to see the outcome of that legal action.Still along with the 'Wirecard' fraud in Germany it's done huge reputational damage to EY.Let's hope like Arthur Anderson, after Enron, that EY disappears.One can but hope.

[jimbo123elf] 29/4/2022 13:55

The UK arm of EY, the big four accountancy firm, has been hit with a £2bn legal claim for alleged audit negligence over the collapse of NMC Health, the Gulf-based hospitals group which crashed into administration in 2020 amid an apparent fraud.

hxxps://news.sky.com/story/auditor-ey-hit-by-2bn-negligence-claim-over-nmc-health-collapse-12601598

[punter01] 29/3/2022 19:39

I really had hopes earlier. However, now it looks like it's over! Additionally, looks like no new company can raise funds on LSE for a dacade or two. Fixing NMC can pave way for new companies and invester confidence in UAE companies, else I guess it's over for UAE companies in LSE.

[triskelion] 29/3/2022 18:44

Received from my broker a couple of hours ago:

"NMC HEALTH PLC ORD GBP0.10
Notes: Further to our previous communication, we have received an update
regarding the NMC Health Plc liquidation event.
The Administrators have confirmed that it is extremely unlikely that there
will be any value returned to the shareholders of PLC.
As a result the shares effectively having no value, so will be removed
from your account in due course"

No wriggle-room for HMRC there then....(?)

[ch1ck] 26/3/2022 10:05

Piece in the FT today

[ch1ck] 26/3/2022 10:05

NMC came out of administration as a new entity. NMC OPCO LDTTHE ORIGINAL COMPANY IS STILL IN ADMINISTRATION FOR UK INVESTORS

[triskelion] 25/3/2022 16:00

What's the source?
If it's one HMRC can accept, then maybe HMRC can reasonably be asked to accept without further delay that there is *negligible* value, having regard to:

"...therefore PLC’s shareholdings in the ADGM Entities effectively have no value
...
However, no further value is expected to be realised by PLC from the ADGM Entities
...
unlikely that realisations will be sufficient to repay creditors in full. Accordingly, it is extremely unlikely that there will be any value returned to the shareholders of PLC as a result of the Administration...."


So write to HMRC... in numbers....

[urbanvoltage] 17/3/2022 02:48

The price of oil went over $100 a barrel, money all round, no one prosecuted or arrested or fined and a FTSE 100 company stolen.

Below is the email response from A&M in regards to share holders.
What does the restructure mean for shareholders?
As you are aware, PLC was the ultimate holding entity and did not hold any medical contracts or licenses to trade, with its primary asset being shareholdings in other entities in the Group. One of the effects of the Administration of the ADGM Entities was that PLC no longer had any control of the ADGM Entities. In addition, the only way for PLC to receive value via the ADGM Administration process was for the ADGM Entities to first repay all creditors in full.
Given the level of debt within the ADGM Entities, it is extremely unlikely creditors will be repaid in full, and therefore PLC’s shareholdings in the ADGM Entities effectively have no value. The impact of the Administration and the subsequent DOCA process described above is that the business and assets of the ADGM Entities will be held by the New Group, which is not a subsidiary of PLC. Therefore the shareholders of PLC have no connection to the New Group.

PLC has participated in the DOCAs as a creditor only. This means that PLC will receive a certain proportion of the debt instruments in the New Group in relation to intercompany amounts due from the ADGM Entities, and will ultimately receive a repayment of these instruments if the New Group is sold or re-financed (or prior to this point if the Administrators of PLC elect to sell PLC’s position). However, no further value is expected to be realised by PLC from the ADGM Entities

Will the shareholders be re-listed or will PLC report financial information to the SEC/LSE?

Following the appointment of Administrators to PLC on the 9 April 2020, the decision was taken to de-list the shares of PLC on 28 April 2020 as the continued listing would have incurred significant cost and added complexity in a situation where decisions were required to be made at pace and in co-ordination with the Group's financial creditors.
Given the DOCA process discussed above, PLC no longer holds the trading business and assets of the ADGM Entities and has no connection to the New Group other than as a creditor. The Administrators of PLC continue to pursue claims in order to realise value for PLC’s creditors but it is extremely unlikely that realisations will be sufficient to repay creditors in full. Accordingly, it is extremely unlikely that there will be any value returned to the shareholders of PLC as a result of the Administration and the Administrators do not believe that the shares will be re-listed. Therefore, no reporting is required to the SEC/LSE.

[triskelion] 04/3/2022 21:06

I still don't see NMC Health plc listed in HMRC's "Negligible value claims and agreements", those affected might well write in and ask when its long overdue appearance there is due because the ownership change has occurred and shareholders are left with nothing that I can see:



I've rather assumed that once the administrators have seen to the creditors, that's it. Any money would come from e.g. class actions against responsible officers (waste of time) and/or auditors (maybe ditto). I haven't bothered going back in the thread but there was something iirc.

An equally smelly one though closer to home and much smaller is the precipitous decline and fall of Studio Retail Group plc (in administration). Its unexpectedly rapid demise suggests management may not have timely informed the market of just how dire the position was before their announcement of working capital basically having run out. One wonders if/why the institutional holders did not / could not help facilitate the relatively modest increase in banking facilities required - or maybe they initially tried and found it was even worse than (not) announced! No way of knowing since all behind closed doors it seems. btw STU's old name was Findel plc.

In both cases my holdings were chicken feed scale but they've spurred me into getting a copy of "The Signs Were There" (revised edition 2019) by Tim Steer for all of five quid (s/h) and a quick flick through on its arrival indicates this is probably one book that might rightly be called "lively" despite being concerned with accounting!

[redbaron10] 19/2/2022 10:32

NMC health went into administration under the order of a British court.When creditors are paid off, and administrators and lawyers take their very fat fees, there won't be much flesh left on this carcass.5p or 10p in the £,if as shareholders, we are remotely lucky imho.Like other contributors,I'm not holding my breath for a re-listing or return of my defrauded investment.Sadly.I just hope EY the auditors get a crucifying fine for their woeful audits, and are made to pay back their fees.I know some frauds are difficult to uncover but this doesn't look like a sophisticated fraud in NMC Health's case.

[m w] 09/11/2021 07:18

All is not lost

[waynesplash] 08/11/2021 22:43

How is this, dont get this ???

Wayne

[diverzeusy1] 11/10/2021 12:57

Punter 01
I do hope you're optimism comes to fruition, I won't be holding my breath on that one. It's a very nice outcome though if it did go this way, at least you made me smile 😉👍

[punter01] 10/10/2021 23:36

I still see that there is a possibility that NMC will be relisted. Though not very soon. If NMC is not relisted. Moreover, it is not bankrupt, it's business is still healthy. In theory NMC can be debt free in next few years.

If NMC is relisted not only common people will get back their money, many exces will get back their money and finally current owner (whoever will be) shall also make money. There is lot more to it, maybe some other time.

I really hope, good happens and UAE leaders will not let us down.