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Who the f... really cares about ponty!! I'm sure I don't.
Pontys: I don’t know if this would work, but there is still a market in the US for the ADR’s, which are, essentially, shares in the company in a form that allows them to be traded in the US. You could ask your broker if you might close your short position by buying an equivalent amount of these ADRs. I don’t know if they are convertible into shares but it might be worth a try?
Pontys: you must have had a very good profit. This is the trouble when listed companies go bust before you close your position. In a properly organised market, you should have been paid the proceeds of a very successful investment as soon as they were taken over without compensation. Now, with the ADR owners finally smelling the coffee, there’s a reasonable valuation yardstick there.
How do you expect things to develop? I wish you luck with it.
@OofyProsser I used a CFD account, and having shorted, and the con happened, I come out well on top, just a matter for new admin to settle and reorganise before I can cash out!
Wrong board!
Trade Spread at Spread after Buy/Sell
Price trade Time Volume Trade Flag
135 11:56:57 134/136 35000 Unchanged until 14:23:04 - 134/135 Buy
135 12:37:41 134/136 50000 Unchanged until 14:23:04 - 134/135 Unknown
135 12:56:29 134/136 100000 Unchanged until 14:23:04 - 134/135 Unknown
135 14:26:35 134/135 115000 Immediate change to 133/136 Buy
300000
Wonder if I'll get some of my £97k back.
I've written it off, but you never know :-)
NMC founder sues EY, banks and execs for $8 bln over alleged fraud
https://www.reuters.com/legal/government/nmc-founder-sues-ey-banks-execs-8-bln-over-alleged-fraud-2021-07-22/
How will you do that?
They would have used offshore companies to protect themselves, decapitation is called for here! It was their fraudulent deals and decisions that led to so many people loosing their investments… at least I’ll get a tidy profit whom ever knows when…
I wouldn’t be hopeful of realising any value from NMC shares. But if you’d like to follow the Earl of Clanwilliam, who was a Board Director and the Chairman of NMC’s Audit Committee while the events detailed in the excellent Muddy Waters report were occurring, he’s currently Non-Executive Chairman of a well known oil and gas entity listed on AIM, called Angus Energy plc, where he continues to weave his magic.
It looks like it could come out of administration, see the investor relations page. Long way to go, but if it’s a going concern it will have more value
I had quite a bit of NMC shares before it went pear shaped. Is it worth nothing now or should we be waiting for the administators to work something out?
Any ideas why and how this still trades in the USA? Currently at around .42 cents a share.
Have a look at FT yesterday. Worldwide asset freezing on top 6 owners. Court hearing behind closed doors.
Had a short on this bestards for a long year, lots of money stuck until who knows when they clear all the fraud matters up. Cannot find any further news of late, and would be most grateful to find out what others are finding.
Thank you, and happy pockets!
Robinhood?Unless there is any substantial chance of getting any equity value back after the creditors have had their pound of flesh or a potential lawsuit against the auditors or shetty and co?I'm guessing it's robinhood types as otherwise the adrs would have surged way more?Weird that the us haven't suspended the adrs.Anyone know why?
If you have an IBUK account you can buy the ADR - no idea why it is up but the trend is up over the last few weeks now
Anyone got a view on why NMC US listing up 45%??
Looking interesting.
https://www.telegraphXXXXXXXXXX/business/2020/11/06/nmc-health-administrators-take-steps-sue-ey-firms-collapse/
Any interested parties should watch the presentation and move to the bit where it talks about the investigation. They know who the perpetrators are and are building a case to recover assets. But it won’t be quick!!!
False invoices at centre of new NMC probe.
https://www.ft.com/content/a22b75df-f37f-4e4f-a024-3dc1c1df82ee