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Karenkelly. Assuming you are serious in your comment. The shares were suspended. They have no current value until nmc position resolved. Most likely you will not get anything back but you still technically own part of the co. No idea what happens if an offer is made for them but there is a possibility that the company may survive.
Autonomy, that’s not strictly true. The shares still exist, and it is possible for shares to be relisted. Ownership hasn’t changed.
We been robbed basically.
Karen
Whatever you had invested in Nmc you have lost,the shares no longer exist
Do you think they would allow this company back on the LSE and even if they did it would be under a different name with new people and new shareholders
Well that's how to lose £2.5bn of shareholders funds legally!
Hi
First time poster - I had quite a lot of money in NMC but I don’t really understand delisting
I may be looking at this very simply, but I see a company that is operational but weighed down with debt. To me this does suggest a comeback could be on the cards (over years)
What I don’t really understand is how can I track the price of shares now I am delisted and how can i trade them?
I am in the UK
All his companies all three of them theyl lose. Only money shetty will get away with is what he took to India. Im guessing thatl be less than if he just did everything legit.
“ Any such orders would put these businesses, their employees and their ability to operate and meet ongoing supply at serious risk, and especially at such a critical time given the current public health issue," the spokesman added...
The cheer audacity for them to say this!! Wow! They should have thought of this before they committed the fraud!!!
https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUSKCN229232 lets hope they slowly and painfully
I agree. It's almost like the timing of Covid was immaculate for the consultants involved and the crooks that got us here.
Anyone who invests in anything is taking on a level of risk, but people's lives have been ruined here by fraud on a massive scale from a company belonging to a financial listing that you feel such an extremity wouldn't happen. UK press coverage has been next to non existent for what I consider one of the biggest and quickest falls from grace of a FTSE 100 co.
I still can't understand how the courts allowed the administration while the FCA were supposedly conducting an investigation. It just sums up how weak and irrelevant the authorities are. Absolutely zero protection or regulation.
EY may one day go to court and get slapped with a few mil fine for being asleep at the wheel. What's that to them??
I just hope these fraudsters are eventually rounded up, prosecuted and die of an extremely painful death, which I would consider some consolation and maybe future deterrent! I suspect however that old Shetty & co will live out their days in Indian palacial splendour!!
I'm bored silly not being able to trade,Like you I am not putting anymore money into stocks.So I'm going to sell up in London and move to Deal when lockdown ends.
The answer to that is yes, just google it. Delisting isn’t always the end.
So, Coronavirus permitting, I really don’t understand the lack of comment from II’s about this. Are they simply going to take it on the chin? The press coverage for such a fraud has been so low. I don’t think this is the end for shareholders given criminal investigations. Has a company ever relisted after something like this?
Na I've given too much time and money. Il check in a years time to see if anyone got anything here. Knowing my luck theyl get a quid a share lol
Ive donated my shares to charity and closed my accounts.
Mrd
I know this won't help, but my optimism back in the day with TLW getting us both Bentley as gone tits up. I traded poorly, FOMO, halved my shares and we'll underwater. If I'd done it wisely I'd be sitting pretty right now, as it is getting my life savings back is in the lap of the gods for me.
All the best in what you do next, mate. Stay healthy.
How is this allowed what protection for investors any company can do this another Afren and Quindell.
Ive been done in all 3
Ps im owed 300k... 235k was hard earned. 65k was made on the markets. Still feel like it was mine. These guys stole my last 110k off me
I sold all my shares off when markets started to slide and kept this one thinking it was safe.ive been wiped out by corruption and the ftse has lost credibility,in these times we find other things too do which I have.nevertheless I miss having a flutter on stocks but I could have made a.fortune this last few weeks but had the virus so not in the game but actually glad I never made money from people losing their friends.These Nmc fraudsters need assassinating by there governments if the world Is too move on after corona virus .ps I'm owed 30k of hard worked money.
The whole system is not fit for purpose,its just a big boys club and auditors,FCA etc do nothing to protect people but get paid alot for doing nothing,so how do you get to the bit look after shareholders interests when nobody is accountable
I think the only way to win is milk the system and stuff taxes and get what you can
This is typical of all the watchdogs who suppose to look after our interests but in reality are a complete toothless waste of time
Some people are on the pitch, they think.......... Lost £4k, bad news but that's shares for you, little or no recourse for the little guys. But fraud is worse than company failing, this is still a good business that someone is going to get cheap.
What bugs me is the standard of auditing, a) by the actual auditors, this fraud has been going on for years, and b) the FTSE 100, surely they should have had a bit more of a scrutiny of how they rate companies, as most people think that it tends to better companies at the top of the tree. No one comes out of this well (accept for the thieving buggers, and the money-men who must have taken commissions and bonuses along the way) Rant over.
Like I said before I got out of Kaz several weeks ago and I am waiting for the fall below 5000 on the FTSE
I intend to buy BHP,Shell etc having already got L and G and Aviva which hopefully will all be pretty safe
Can someone explain why we have auditors,it seems that they serve no purpose
What is the point of a company presenting accounts to them for them to pass them without question it seems a pointless exercise
Dont think anyone thought itd be a $4 billion fraud.
Shetty didn't disclose all the loans against his shs I should have said I think he did declare some