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Rastuss - who knows, the FCA has no spine anyway so you're right, not much use.
here's news of that $2bn loan which comprises most of the debt on the balance sheet : https://gulfbusiness.com/uae-healthcare-provider-nmc-raises-2bn-loan-say-sources/
and from the recent RNS: "NMC has a multi-tranche facility agreement relating to an original commitment of $2bn and certain other facilities which contain change of control provisions that are triggered if the Principal Shareholders cease to hold together, directly or indirectly, legally or beneficially, more than 30% of NMC's issued share capital, or shares having the right to cast more than 30% of the votes capable of being cast at general meetings of NMC. In the event of a trigger, unutilised commitments are cancelled and outstanding participations become due and payable if so requested by an individual lender (subject to not less than five business days' notice). NMC would also anticipate a reappraisal of its external credit ratings."
I guess technically ADCB's statement doesn't technically rule out that security was share certificates. But then most of Shetty and Butti's shares were sold? so how come the debt is so high? also ADCB did say "The credit extended by ADCB, which included syndicated loans alongside major global banks, was through senior unsecured facilities in line with common practice for a publicly listed company that also had issued a convertible bond and sukuk in 2018"
And yes, I can't quite believe it either, there's so much information we are missing. I'm determined to help out where I can and get to the bottom of this. If nothing, this is a good learning opportunity for us all and somewhat mentally stimulating/boggling.
consumer.queries @ fca. org. uk
public.enquiries @ sfo. org. uk
Likely to be a waste of time but I have emailed both the FCA and SFO about this. consumer.queries@fca.org.uk and public.enquiries@sfo.org.uk . Like everyone else I do not understand how so much money has been borrowed without the company knowing. I can't obtain a house loan or car loan without grief, so how can a FTSE100 obtain $6.6b when its financials showed $2.1b? I guess if you spread it over different countries and many banks, that's how!
https://www.stewartslaw.com/news/nmc-health-plc-investigating-potential-shareholder-claim/
Apart from Stewarts, have any other UK law firms publicly announced something similar?
Rastuss - there's definitely public information about the new debt facility of $2.1bn which was the rollover of previous debt and including and unused $400m facility (mentioned in previous RNS)
ADCB in their statement note: "The Bank has never provided unsecured loans to NMC’s principal shareholders.
The credit extended by ADCB, which included syndicated loans alongside major global banks, was through senior
unsecured facilities in line with common practice for a publicly listed company that also had issued a convertible bond
and sukuk in 2018" ... so again, why did ADCB never question why these "facilities" were never on the balance sheet?!
Also not sure that is true about FCA, they opened a formal probe into NMC, didn't they?
Did you get mine 20,000 shares £190,000 after Dec 19
ask your broker mrD... not has that before myself.
This will go on forever! Il have to keep paying admin charges to keep account open or donate them to charity
sorry - try now.
I had no chance of getting out as overall was never in profit.
The second box is empty
Adzy its missing the second part on how many we own.
Stewarts Law seem reputable - everyone should email supson@stewartslaw.com
Flood his inbox with as many emails from you all as possible.
I created a poll.
https://www.surveymonkey.com/r/HZHXVSS
It would be good to know how many shares in total are owned by everyone on this board. This information can then be passed to the lawyers. They are more likely to pursue the claim if the aggregate amount lost is larger. I will share updates results. Please everyone answer the survey honestly, it’s completely anonymous.
No deos. Lets see what they can claim back from the stolen money. Might aswel forget this now. We may get 10p a share as a token gesture in 6-8 months.
I reckon they planned admin months ago
It was all a smokescreen
When they are sold which they will be do we get shares in new company
Adzy maybe you can answer me. When will this go to zero p! Or when can we close out of this so I can close my account. When will the shorters get paid out?
No because they all assume the $2.1 billion was their debt.
“In Administration, the existing Board of Directors of NMC PLC cease to have decision making powers with immediate effect.”
Thank god for that.
Also this below quote seems strange to me:
“ADCB has “never provided unsecured loans to NMC’s principal shareholders,” it said in a statement.
The Bank’s assessment of NMC was based on financial statements published by the Group, which were audited as a listed company since 2012.”
So why did ADCB never question why any their $1bn of debt wasn’t on NMC’s balance sheet?! Only explanation is that it was take out after 30 June 2019?
They still deciding if they go after NMC be useles. We need the previous directors to go on line for $5 billion plus interest
Let’s reach out to these guys - https://www.stewartslaw.com/news/nmc-health-plc-investigating-potential-shareholder-claim/
I have requesting to join the new FB Group, can someone please approve.
I'd like to join please
Katedun - how do we join the Facebook group please?
Please join the Facebook group NMC Health share holders action group so we can maybe get some money back