Member Info for adzy2k11

Gksd ain’t making no offer - but in truth nobody expects them to.

Thanks.

Easier said than done. These big IIs are too scared to be seen being against management as they’ll likely receive backlash and have limited access, especially in emerging markets.

None of them have a clue about corporate governance, they are in bed with management half the time.

Thanks TQ - do you find posting the full article?

Pioneer - the sales from pledges and collar termination have reduces Shetty’s shares.

Buttis - 17.37%
Shetty - 5.24%
Total = 22.61%

So around $470m they stand to lose.

Ah ok, the 9 March deadline is set by the takeover code policy.

+10% today

https://bondevalue.com/bond-market/Nmc-Health-Jersey-Ltd-XS1814568413#graph-yield

NMC already told us this!

“ Company does not expect to be in a position to publish its FY2019 before the end of April 2020”

Now that they are suspended there is no set timeline for them to release results

Funny that, because I made money on both short and longs, so my p&l would say I was right.

And IG just confirmed my guaranteed stop at 800p (which I already announced an hour before the close on Wednesday) will be honoured.

So nothing but great profits for me here overall.

It’s you’re*

****ting themselves in the 100th floor at burj al khalifa

F*ck off

No ffs castaway. This 7 million shares in the dollar were sold by GS in May 2018 to enforce their hedge. It was clearly announced in a RNS! The missing shares related to a MOU with the buttis and some other undeclared pledges he made, some of which have been sold as enforcement of security.

Some of you guys don’t have a clue! How are you investing is beyond me.

yes.

To be fair castaway collar transaction are not that unusual and in Shetty’s example was understandable because the stock increased 20x fold

“ An investor should consider executing a collar if they are currently long a stock that has substantial unrealized gains. Additionally, the investor might also consider it if they are bullish on the stock over the long term, but are unsure of shorter term prospects”

It was also publicly announced in May 2018 that he has doing this.

Castaway - they sold the shares as a hedge (short) but I would have thought would have had to buy back to return to Shetty... given the suspension they can’t now buy back so maybe that’s why the cash equivalent settlement ... but based on what price I wonder.

I’ve said this before - believe me the big asset managers have grads working on these mid cap em stocks, they are yanks or Europeans who have no clue about how EM or UAE works. They don’t know a thing about governance risk because they’re not taught to doubt the financial accounts. I’m guessing corporate access is also pretty limited.

But to be fair it won’t be a massive loss for any of them (including capital) as NMC is less than 0.5% in most of these portfolios where it’s held

Ah ok, you’re probably right, they just want to wash their hands of him before he goes to jail.

Rastuss - remember this is essentially an emerging market company parading around on ftse 100. LSE rules are pretty lax so don’t compare this to an AZN for example

From May 2018: To facilitate the funded collar transaction, BRS will lend up to 7million of NMC Shares to Goldman Sachs International. Goldman Sachs International will sell NMC Shares via a block trade to institutional investors to establish its initial hedge for the funded collar transaction.

So instead of returning the 7 million shares, they chose to make a cash payment? If they are going to collapse why not wait for the suspension to be lifted and then buy back the shares to give to Shetty?

What am I missing?

Basically looks like Shetty was basically frantically dumping his shares (forced or not).

I found this interesting:
Goldman Sachs International has elected to discharge its obligation to return the 7,000,000 Ordinary Shares of the Company it has rehypothecated to BRS Capital by way of making a cash equivalent payment to BRS Capital Limited, to be offset against the amount payable by BRS Capital Limited to Goldman Sachs International on termination of the funded collar transaction.

Why wouldn’t they just return (the now worthless?) shares... why make a cash payment?