GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Because they suspended too f in early! 938 f in pence
You will be fleeced. Millennia of thieves. Not corrupt as that implies collusion and intelligence. It’s just thieves for you lot...
In an interview, Shetty said, "I am first to open health care in UAE, We are the first company to list in LSE". In fact, first in everything. Now he can proudly add " I am the first to run a massive Ponzi company and prove regulator/auditors are spineless".
I know just like that £9.38 to £0.
Marconi and Enron went from £0.25 to admin like Debenhams, TCG not from nearly £10
Why didnt we have chance to leave
F-uk nmc. F-uk the stock market. F-uk abu Abu Dhabi. F-uk the conmen. F-uk this ponzi!
Shettys a c-unt. Oh I cant say anything now. Lets wait and see. So basically first lets see if they chase it to me. If not then im staying schtum.
Right so ftses kicked us out. So tomorrow we go non listed and get closure!
Hi all,
Note the words stakeholders.
In a statement after the UK court ruled in favour, ADCB issued a statement: “ADCB and other key creditors have concluded that an administration process is the most suitable route to ensure a rescue and turnaround of NMC Health PLC and its subsidiaries.
“And to assure continuity of operations for patients, healthcare workers and other stakeholders. An administration is a process designed for a rapid business recovery and is therefore distinct from liquidation.Who will be the NMC administrators?
The UK court has appointed personnel from turnaround advisory firm Alvarez & Marsal to take “immediate control”. The firm will work on behalf of all stakeholders.
“Their priority is to ensure stability and the continuation of uninterrupted healthcare services at the Group’s medical facilities,” ADCB said in a statement. “The joint administrators are also tasked with implementing robust governance, conducting a full, transparent investigation into suspected previous irregular financial activity and taking adequate steps to initiate the recovery of any missing assets and funds.”
hxxps://gulfnews.com/business/banking/nmc-health-placed-under-uk-court-supervision-1.1586435611366
Wayne
FTSE Russell intends to remove NMC Health at a nominal value (GBX 0.0001).
https://www.google.com/search?q=nmc+health+share+price+lse&rlz=1C1CHBF_en-GBGB826GB826&oq=nm&aqs=chrome.1.69i57j69i59j69i60l3.1426j0j4&sourceid=chrome&ie=UTF-8
Sent the request to join the group.
Feeling absolute sick, lost a lot of my savings. Can’t believe this was a FTSE100 company.
Not sure how long will it take me to recover my losses elsewhere....
that was at typo, the article said $8.6bn then went to say $4bn in undisclosed debt, so i think they meant $6.6bn.
and while i totally agree that shareholders have lost and should not expect anything back, it doesn't take long to complete a survey, join a fb group and send some emails to solicitors and join a group litigation suit (if, and when one appears). Most people have more time at home now, so it's no skin off your nose for trying. But yes, expect nothing back.
NMC is in administration but at least ****ty managed to sell the bulk of his holdings prior to suspension. He offloaded 2.4 million at the start of February. The Butti's sold everyday during the week prior to suspension- they even sold 240,000 the day before...... Strange they finally managed to locate their "missing" shares.....and of course they knew nothing of the now $8.8 billion debt......
Guys, by all means do whatever you need to do to get over this, for some your entire savings are gone and you have my sympathy; but don't put too much effort into FB group or legal enquiries. The truth is, this money is gone, there is no hope of getting any of it back. Better to write it off and move on, don't let these scammers take anything else away from you. Your health and family are more important than money.
NMC had resorted to requesting accelerated payments from an Abu Dhabi-controlled health insurer to pay salaries, the court heard.
It also heard evidence from ADCB that in late February NMC defaulted on a $1bn facility when it failed to make a $71m payment. This triggered another default concerning a $250m debt facility with ADCB and Standard Chartered Bank.
Mr Robins also claimed there were concerns that the group was struggling to pay debts and access cash to pay staff salaries and that it was suffering from “extremely serious cash flow difficulties”.
Mr Shetty, who has a stake of around 5 per cent in NMC, said in a statement he had been carrying out his own investigations and would make their findings known as soon as possible. “I am extremely eager and determined to bring to light the full facts,” he said.
NMC Health has been placed into administration by a UK high court judge who said that “something had gone very wrong with the management and oversight” of the company as he granted an application from creditors led by Abu Dhabi Commercial Bank.
Judge Sebastian Prentis said on Thursday he was satisfied that the healthcare provider was cash flow insolvent and granted ADCB’s application to have Alvarez & Marsal appointed as administrators.
NMC’s future has been uncertain in recent weeks since the Middle East-focused group found evidence of suspected fraud in its finances and reported previously undisclosed liabilities, which raised its net debt pile to $6.6bn. An independent investigation, following allegations of financial irregularities made by a US short seller last year, was commissioned by the healthcare provider and revealed unauthorised off-balance sheet financing.
ADCB has almost $1bn in debt exposure to NMC. Its application to the court was backed by other bank creditors including Barclays, which has a $146m exposure, Dubai Islamic Bank which is owed $541m, Abu Dhabi Islamic Bank which is owed $325m and Standard Chartered.
“It is clear that something has gone very wrong with the management and oversight of the company,” Mr Prentis said in reference to NMC’s series of public announcements on its finances since the start of the year, but added that allegations of fraud against the company were “just that”.
NMC was founded by Indian entrepreneur BR Shetty and is the biggest independent healthcare provider in the UAE, employing 20,000 people including 2,000 doctors.
“All hospitals, medical centres, care facilities and other operations in the group are not subject to the administration procedure, so their current activities will not change,” said Richard Fleming, managing director of Alvarez & Marsal Europe and joint administrator, who said the priority was to ensure patient care during the coronavirus pandemic.
Mr Prentis said the administration process would enable NMC to keep trading. Its lenders will put in place a funding agreement to keep the group operational in the short term, the court heard.
The group did not participate in the hearing but said in a letter read by the judge that, in the absence of creditor support, it was not in a position to oppose the administration. It added that neither the company nor the board accepted any allegations of wrongdoing.
Mr Prentis said he was satisfied that NMC met the legal test for being placed into administration for being “cash flow insolvent” after hearing from ADCB’s barrister Stephen Robins that the company had missed its February payroll payment date, although that obligation had now been met.
Share on all boards
"I will make these findings known as soon as possible, and in the proper and appropriate manner."
absolute BS! That day will never come.
Thanks for all the honest answers. Here's an update, great response so far. Please keep passing it along.
https://www.surveymonkey.com/r/HZHXVSS
So far 45 replies:
1) 38 people invested during or after December 2019
2) 2.54 million pounds lost in total
3) Total of 198,152 shares held (0.09% of company)
Will give it a few more days and then please include this information in your emails to the lawyers/regulators/MPs etc.
https://www.khaleejtimes.com/business/local/shetty-vows-to-disclose-findings-on-nmc-health-debts
Shetty Vows to disclose findings
Done
Done
Please join our class action group on Facebook NMC Health Share holders action group look under groups
Can the creator of the FB Group make it private please.
Hamz - looks like it is a tenth of a penny because the price before was 938.40p, so now 0.10p... and not sure if this is an error, probably as no trades can go through during suspension... surprised how/why the ADR is still holding up.