Member Info for adzy2k11

Yes, 60p but still crazy.

https://youtu.be/isi85WKcZhc

Here’s an interview from 6 months ago... so many constant rumours of mubadala being interested (back at £24 then) I can’t help but think their link via sharing the chairman of ADCB is somehow and underhand tactic to nationalise this on the cheap.

Why mrD? We knew his bad track record of investing in companies just before suspension. What about him made you so convinced? He was just having a small punt...

5x ADV of trading in the ADR today. Find that slightly odd.

Rastuss is technically correct, but yes it’s a rather mean statement to make at this time when so many people are hurting. I think you make great contributions here but may I suggest it be worth just leaving out the sly comments at the end of your posts.

ADCB rumoured to be appointing Alvarez & Marsal as they administrators tomorrow. For those that don’t know these guys got the Lehman Brothers contract and received nearly $500 million in fees for their work... they come at the top of the payee list on any windup on NMC...

Mrahman - ADCB claims nmc failed to implement the changes they wanted. I don’t think they want admin but what choice do they have? They can’t trust nmc and belhoul looks to be a front for butti and maybe shetty too (given his super quick endorsement). Nmc shot themselves in the foot (or the face?) by appointing belhoul.

“ADCB’s filing to the courts has a “strong case” and is likely to win in its request to appoint Alverez & Marshal as administrators, said the first source familiar“
Debtwire

Dude, shareholders are gone, the equity is now worthless... whatever shape the company may/may not come back in has no bearing on current shareholders. It’s a zero. Sorry to state the obvious but we have to understand this reality and now end all this false hope.

“Shareholders are also worried about what they describe as an attempt by creditors to take control of the company to their detriment. Some are organising in an attempt to delay the proceedings, people aware of the discussions said. The ADCB declined to comment.“

They really can’t do anything at this point...

Latest from an hour ago:

“NMC Health is still in talks with the competent authorities to define the violators and redeem the stolen funds, Al Bayan newspaper reported, citing executive chairman Faisal Belhoul.

"These violations are attributed to administrative irregularities and unacceptable practices, which weighed on the company," Belhoul said, adding that joining the company's new board of directors was a rescue mission.

"NMC has a strategy and a restructuring plan aimed at fulfilling the operating and financial stability," Belhoul said.

NMC is still in talks with the 75 creditors to reach a settlement, as the company owed $6.6 billion in debts, which is considered an alarming and an unexpected figure, Belhoul noted.

"Talks have reached an advanced stage, however, the high leverage is considered a big challenge," he added.”

MrD - the Buttis must be laughing! The flogged worthless shares - 9% to Belhoul and 12% to Capital, and the another 10% through “margin calls”...

Rastuss - there were rumours that Shetty himself hired Freeh.

https://twitter.com/muddywatersre/status/1230492270513639425?s=20

And then the analyst James @ Jeffries also found a historic link between the Buttis and Freeh.

“ We were researching Mr. Freeh’s background and found a high-profile historical case involving a party that served on the board of Hakkasan, where Tasameem Real Estate is also a shareholder, at the same time as Mr. Bin Butti”

Who knows! I did keep saying in Jan/Feb that I found it strange that NMC went for someone with a history of defending known crooks (List of Louis Freeh’s recent clients:
Steve Wynn (sexual assault)
Denis Katsyv (Russian money launderer)
Andriy & Serhiy Klyuyev (Ukrainian oligarchs currently hiding in Russia)
Tether (shady crypto currency under DOJ investigation)
Imperial Pacific (dodgy Saipan Casino)
NCAA)
...and not a more high profile firm. Perhaps he was hired to buy time for Shetty and co. to sell down. After all, Freeh didn’t even do the basic job of confirming the cash balances at the banks like they said they would in December!

https://audioboom.com/posts/7550325-what-does-the-future-hold-for-nmc-health

Same folks who interviewed Shetty last year. Not much substance in this audio cast but they do replay the “we are not siphoning money” quote from Shetty.

Shocked how still nobody is really questioning on what terms or how these loans were made and what the money has been used for.

https://www.investors.com/news/china-stock-tal-education-dives-luckin-coffee-sales-fraud/

Another one reported by Muddy Waters... all the ****roaches are coming out of the cabinet now. Shocking.

“I have come into the Board of Directors with no baggage of the past”

Ok mr belhoul, nobody believes you.

Tesla will probably eventually end up down there.

Well, it’s a harsh lesson here. In future whenever
a founder/chairman starts to pledge his/her shares as collateral, you need to run a mile. The same happened over at luckin coffee and Goldman have now seized the shares and are forced to take a loss.

There are sadly no rights for shareholders, Deos .
You can remain ignorant to this fact but it won’t change the reality.

“re debt, it would have been very difficult to build up $4.4bn debt in the short term IMO - people get wind of companies after loans”

Castaway - of this was built over time then surely the lenders should have asked why their debts weren’t appearing on the publicly disclosed balance sheet? That would be gross negligence on their behalf (not impossible, I guess)... but then I do also agree it’s hard to fathom how nmc took a ton of “quick fire” loans with 80 institutions (averaging $55m each).

Nmc need to hurry up and disclose the dates and nature of all these loans. Shareholders have the right to know!

A quote from that Shetty interview: “corporate governance is very good, we are not siphoning money and it’s only being used for the company”

Slightly odd statement to make back in mid-2019? I don’t recall any such concerns being raised back then...