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Is anyone willing and able to post The Times article headed "NMC Health could turn to market for cash"?
No one can close anything yet. Its not officially insolvent. Its a weird one this even the shorters cant celebrate
Deos we got 1 hope. Debt for equity. Lets wait and see what happens. Rastuss will just keep going on about the negatives but he wont answer me.
Waiting to hear back from IG (email sent on Thursday). Anybody else have a SB position that’s been repriced?
Rastuss
You have been on here for months but not invested?
I cant see them relisting and wiping out all shareholders as that would cause mayhem amongst current holders and who would ever invest in them.
Adzy have you managed to close your positions yet? Or is everyone still on hold? Yesterday adrs hit 400,000 volume.
I must say there’s a hell of a lot of movement (both price & volume) on that ADR!
Maybe rastuss the Oracle could tell us who buying the adrs and why! Why paying close to $3 a share for a defunt 0p value?
Rastuss if our shares are worthles so are theres you stupid....? No point doing debt for equity if shares at 0p. Adrs giving an idea if we did open £2.50
A listing allows everything to be out in the open. Dilution is the most likely outcome. Given the status of major shareholders a course of action to simply wipe out one set of shareholders in the hope that another set will cough up is unlikely. If NMC is a going concern, then the loans can be restructured, however some assets will need to be sold to aid cash flow.
Maybe just giving us false hope time will tell.
Nmhly trading like this is coming back in its current form. Time will tell.
That will rub salt into the wounds relist it under a different name so we get wiped out
Thanks Autonomy. That conclusion seems to contradict what the administrators are saying. Any chance you could paste the full article here?
TotalQuant
The Times suggests that the company would be relisted under another name and thus current shareholders would get nothing
Knowing the Fsa they would more than likely allow it as nobody cares about us
Yes agree
You on fb group?
The debt restructure and being relisted is our only hope even though it will be worth about £2.50
We got 1 hope they keep listing! And decide to debt for equity. Then go after billions.
Nims, you have to decide who has transgressed and then launch legal action against that entity. personally i would officially complain to each professional institution about alll the accountants who should no longer practice on account of their imcompetence. If that body finds against the individual it may strengthen your legal case. Expect to invest 3 years of your spare time.GLA.
Deos,
Here's an extract from the National:
"On Monday, The Times newspaper in London reported that administrators could return to markets to raise capital if a restructuring of NMC Health is deemed to be achievable.
It cited court documents accompanying Alvarez & Marsal's appointment which stated it "may be desirable to continue to make use of the company as a listed entity to allow the group access to equity funding”.
In a statement to the newspaper, Mr Fleming said retaining the company's listing could “provide an exit route for investors if and to the extent that any of the existing financial indebtedness should be converted to equity under a restructuring that has the support of the creditors of the company and the group”."
The important points to note are that it says "continue to make..." and " retaining the company's listing".
Also, they are implying it may not be possible to recoup all the debt but part of the restructure could be a debt for equity swap which would then allow creditors to sell them at a future date to recoup that money, "an exit route". This means 2 things to me, firstly that the administrators see value in the company as a going concern (strong earnings) and secondly there will be a dilution in the value for existing shareholders.
I would reiterate though that if the earnings at NMC are correct ( this is the million dollar question) then the suspension price was cheap. Also, NMC was trading at 10Billion market cap not too long ago. I'm not saying it will re-open up at £9.
I would stress that it's still too early to suggest shareholders will get any value out of this but recent news seems positive.
nims, The share holders have all united together, you can join the recently setup Facebook group.
Seems they want to relist get rid of the debt and wipe us out.
Rats
Well my £2500 investment is now showing as worth 22p on interactive investor -99.99%
Dear all,
Shareholders, it is about time that we all unite together and take action against crooks in the stock market. We shouldn’t take this robbery lying down. What’s the point of an FCA, Auditors and CEOs if shareholders cannot be told the truth and are protected. Investing in shares are a risky game but people invest based on either no knowledge or based on fundamentals disclosed by companies. How can a audit team, banks, CFO etc... not know about the lies. Banks who lent NMC should also be held accountable as clearly they did not do any due diligence when they lent NMC the money and it is clear the CFO was a fraud as how can you not know how much money is held in NMC business accounts.
Also muddy waters analysis is fishy, they were tipped off by one of the external auditors to write the damning report in December and I wouldn’t be surprised if banks and many were all involved in this fraud. The big banks covered their borrowing by shorting NMC before the suspension.
Finally how can the FCA suspend the share and not allow shareholders to take their money out knowing that the company is going into Administration.
How can we fight and do we all join forces and take legal action.
ADR Was up 350% at one point today, now up 150%!! Sounds promising!
Should stick with my original bailout plan. Release 500 million shares at £9.38. Debt gone. We get diluted to high heaven. But then when and if they recover the lost billions buy shares back. They should make me the administrator!