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I agree with some of your views that anything is possible and more than willing to keep an open mind about it. But will base my views on new relevant information as it comes.
Finablr +9.5% in this falling market..
So we never how NMC will behave when it's starts trading again. My fingers crossed & I'm always positive.
Why did the stupid fs pay of $90 million early and spent another couple of million buying shares!
Couple of things to note.
If ST debt is significantly higher than cash then this company really will struggle to find lines of credit that will allow it to continue its business. My concern is that cash is severely depleted because otherwise it would have already been confirmed by Freeh.
Having said that I don't think all is lost but a lot will be riding on how good the new CEO is.....can he find new lines of credit. Also, could there be a rights issue that would allow the company to restore it's cash balance, should it be severely depleted. Things are not looking good but It's not complete game over yet.
I think adr gives an idea of what mms are likely to price at if they open now. But that can and will change on report.
Tesco dropped from 260 to 140... then took 3 years to get back to 260.
I see FIN +7%... let’s see what the ADR does today. Again, I wouldn’t read too much into them, but together they might not be that bad barometers of sentiment
If you owned shares from a certain time period they paid out in tesco. You have to think if we were 3000p and this came out we'd open around 75% down so around 700-800p. Which is where we are now. So how much is priced in? How much isn't. How much interest does that nmc treats 8 million + pxs a year
I do think suspension was the right choice, but I’d rather still have liquidity as could have recycled that cash into some bargains! Luckily my position size was small so I’ll
Move on.
For Tesco I just read: “they established a compensation scheme aimed at some of the buyers of Tesco’s shares and bonds for cash during that period. Both Tesco and the FCA said that the cost of that compensation is likely to be around £85m, excluding interest.“
Did anybody ever get any money back from that??
Ah you want a suspension one. Well they saying business doing fine. Yet you hear stories of how its not so until report we still wont know. So they saying wait for report then see whats what. Weird thing is they did it to protect the drop from 940p. My confused look is why!
Tesco was not suspended was it?
Tesco.
I’d love to know I’d there’s been another company that’s had accounting irregularities, needed to restate their accounts, and has come out relatively unscathed? I’ve been trying to research this the last two days but can find no food precedent... anyone?
I have a sneaky feeling a bid will come through on open.
We not ramping man. We expect the worse and hope for the best. The rest is in the hands of the creator.
I agree. We may even get 1200p on open lol. Who knows
There’s no need to panic, but there’s also no need to ramp and have unrealistic expectations.
Expect the worst and hope for the best!
We were comparing Finablr with NMC during fall but none is saying anything today. It's up now 5% when the market is down almost 3%.
The truth is none can predict what will happen with NMC. We just have to wait & see.
There is only the convertible bond trading at 50c on the $. Not due to til 2025. The rest the sukuk etc have dropped about 2c.
Even if we don't get anything back, what's the point of being panicked and making others panic when none can do anything here?! Sharing news being unbiased is something else & making people panic is something else when they can't do anything about it. Best thing is to wait & see the update. Who knows what's the next news will be negative or positive?!
It doesn’t need to “go bust” for you not to get back any equity value. A rescue will involve buying the bonds at 50c on the dollar! Why would anyone in their right mind pay anything for the equity now when you can just buy the debt and take it over?!
1) it’s LOSE not loose
2) even if operations is fine doesn’t mean there’s any EQUITY value. Given the owners have likely drowned the company in debt and drained all its cash the remaining worth of the company (whatever’s left) will just go to the bond holders... shareholders are bottom in the capital structure.
If the following is true about operations going strongly how all of us assuming we will not get anything?! There is no point of being panicked and others as well. As no one knows anything for sure, isn't it better to wait and see?!
The following taken from another group:
The pain is not going away for NMC Health – the staff are facing a bitter loss of morale amidst their CEO getting "unceremoniously" fired and principal shareholders tending their resignations from the Board of Directors, according to highly placed sources in the company. NMC Health, headquartered in Abu Dhabi, is the biggest healthcare operator in the UAE, with its portfolio featuring both hospitals and speciality clinics for fertility and long-term care. It employs around 18,000 people across its network. Not just that, on Thursday, the London stock market regulator, where NMC Health is listed, launched a “formal enforcement investigation” into the company and the disclosures it has made in the recent past. On the same day, the NMC stock was put under “temporary suspension” at the request of the company, to offset any further price volatility in the coming days. By the looks of it, the next few days and weeks could indeed be stormy. And it’s also telling on staff morale – “Every day for the last two weeks, we head home thinking the worst is over after some new – embarrassing - disclosures about the shareholders of the company,” said a senior official. “What’s most concerning is that this is happening despite there being nothing wrong in the way NMC is going about its day-to-day work. READ MORE UAE: NMC Health CEO dismissed UAE hospital provider NMC Health’s former vice-chairman fires back “In the 29 days of this February, we will still have done better than the whole of January – despite the constant problems the company is facing related to its shareholding, etc. We had introduced new medical programmes and doctors at NMC Royal in Abu Dhabi, and these are showing results. At the same time, we integrated our operations in Dubai and leading to increased capacity utilisation and lower costs. These are showing the desired results. “But in this climate of uncertainty, nothing seems to matter what we do operationally.”; The group treats more than 8 million patients annually. Highly placed sources said that there have been quite a few resignations of senior staff, including on the management side. This could, in some cases, hamper the ongoing internal investigations, they add. The current CFO, Prashanth Shenoy, has been placed on extended leave. A formal comment from NMC on ongoing business operations is yet to be issued. Delayed results Many had been hoping for the 2019 financial result announcement to bring some much needed cheer. Now, it seems would be delayed to April – “There’s an internal investigation on and they will need to have a look at the audited 2019 financials before any release,” said a source. The stock, once a high flier on the FTSE 100, had been through extre