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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.
FT article quotes the judge as saying fraud is only alleged at this stage, and quotes Shetty as saying he will soon reveal his own report with his own findings...
Google finance here seems to show 0.10 GBX. Is that 10p, or one tenth of a penny? Have the shares now relisted or is this some kind of error? https://www.google.com/search?sxsrf=ALeKk019GzMy9qDi_Ag-3S6be_WIq7cAew%3A1586449126202&ei=5kqPXqD5C9j9gAbV752wDA&q=nmc+share&oq=nmc+share&gs_lcp=CgZwc3ktYWIQDFAAWABgtRFoAHAAeACAAQCIAQCSAQCYAQCqAQdnd3Mtd2l6&sclient=psy-ab&ved=0ahUKEwighPzE39voAhXYPsAKHdV3B8YQ4dUDCAw&uact=5 ADR is still 81 US cents right now.
Just joined FB
"He who shouts loudest" bla bla or it will get swept under the carpet
lets protest outside the LSE or EY
Just joined
Unfortunately the quite ones get ignored .
"He who shouts loudest" bla bla gets heard first
Direct action protest out LSE head office or EY. otherwise swept under the carpet
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!
I added the survey link to the new NMC Facebook group
i just did it ADzy add another 92k was 100k when shares suspended
Hi there
can you please inform us the details of the group so we can join you
actually there are a lot of the share holders intersted to join but unfortunitly they dont know the details of the factbook group , please kindly inform us
Regards
Nael
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?
I know you always said we would come out of this I did as well.
Cant believe a company gone from £9.32 to £0
Enron, Marconi all went down to pennies I was aiming to get out at £10-12
Good job Adzy - I have completed the survey and will share this link or other BBs as well. I don’t want these f00kers to get away with this, a lot of innocent PIs have lost their hard earned money here. Let’s sue these arses! Can you please take a lead here and reach out to Slater & co. I will email them as well!
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?
https://www.surveymonkey.com/r/HZHXVSS
I'll keep updating this. So far 17 replies:
1) 15 people invested during or after December 2019
2) 1.4 million pounds lost by just 17 people
3) Total of 99,554 shares held (0.05% of company)
Please spread this link to other relevant NMC boards. We can then send this information to the lawyers.
Never posted anything before but followed most of the times. Here is something I found that sheds more light.
https://www.adx.ae/English/pages/NewsDetails.aspx?viewid=20200409160829-ADCB
I guess it was the tell tale sign of the obvious. Lost £600 as got out weeks before. Accountants clearly going to get into trouble for this.
Action groups - About as pointless as the directors being rehired. Peeps have lost millions collectively. II's gotwhat they deserved.
Brokers - Pointless like Barclays £60 buy
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.