Member Info for adzy2k11

Rastuss - yes, he does seem quite the simpleton, doesn’t he? I’ve also said it seems super strange that a 77 year old man would suddenly destroy a business that took him 40 years to build, and that too one which many of his family members still work in... Shetty might well of left the running of nmc/Finablr to the brothers but I can’t see how they alone would have managed to get hold of, and subsequently hide, $4.4bn...

And thanks, I made some good money shorting this - it was worth the abuse.

MrD is losing his mind lol

Mrd5432
Posted in: NMC
06 Apr 2020 12:19
I think itl go to admin.

Mrd5432
Posted in: NMC
06 Apr 2020 09:52
My guess is no admin

Anyone think the admin application is just a smoke screen and a way for UAE to nationalise NMC? With Mubadala and the UAE state in control of ADCB perhaps this is just a quick undercover way to nationalise NMC...

I don’t think the correct moral question is being asked of the lenders. somebody needs to press them on why on earth would they agree to borrow nmc such large sums of money? That is the crux of the issue, and where a lot of the blame lies, surely? It’s no different than the gfc where the banks issued all those NINJA loans to those who could clearly never afford them!

In an ideal world the authorities should really deal with it between the banks and the fraudsters, and leave nmc out, they were just the tool used in this mess. Ofcourse that will never happen.

administration is not the same as bankruptcy liquidation. It is a measure designed to ensure that a company’s operations can continue even in financial difficulty. That said, the outcome for shareholders is annoyingly the same.

1) sadly and very likely, yes, total wipe out for shareholder
2) no protection for shareholders, a zero is the risk you bare when investing in equities.

It’s pointless doing a calculation based on any stated balance sheet or income statement figures previously given. None of that can be relied on.

The most important question is when and where that loan money has gone. That needs to be the immediate priority, nothing else.

Yes, ofcourse, more than happy to sell you 25k shares at the prevailing price...drop me a message and I’m sure we can figure some out for your newbie self

https://www.thenational.ae/business/markets/uae-companies-declare-exposure-to-nmc-health-as-administration-looms-1.1001712

I believe the legit $2.2bn facility was with FAB and international banks. The remainder is probably Indian banks. Let’s hope that comes out soon. NMC must be aware of it and need to start disclosing this mess.

Then someone needs to ask the questions: WHEN were all these loans made, WHY (under what terms) and WHAT for (what has it been spent on)... it’s hard to make this large of a sum of money just disappear - this is bigger than the 1MDB scandal! There’s got to be some trace here.

More chance of winning the lottery than getting anything back here.

30% drop in what? Your pants?

I’ll give you 25k sheets of toilet roll ... oh wait, that would be worth far more than nmc shares...

The ukadvfn chat history of HCEG (which Tompkins was chairman of) reads similar to NMC... very sad.

Rastuss: good find! I wish shareholders had read that when it was released. shockingly bad history of the board members!

Tompkins:
“An investment banker who started at London's Samuel Montagu & Co, he worked at Slater Walker Securities in the 70s before it collapsed during the secondary banking crisis.

From 2007 to 2009 he was chairman of UK care provider Allied Healthcare International and also at Healthcare Enterprise Group from 2005 to 2008, a health products firm which collapsed in 2011.”

We can add NMC to that collapse then.

Analysister: totally agree with you, but it has “only” been a week since Belhoul was appointed. I think the problem was it took far too long between 26 February to last week to get a new chairman, and Belhoul (with his links to Buttis) is probably the worst possible choice. Who even endorsed him? Why didn’t the stakeholders have a say?!

volume has dried up in recent days. to be fair, anyone still buying any nmc instrument given all we know is stupid as f*ck.

“By repeatedly refusing invitations to participate on a prospective committee of lenders to decide on the best way forward, and by disregarding the principles of the informal standstill to which several significant fellow lenders have in principal been working with, ADCB is putting its own interests above not only other creditors”

ADCB has no obligation to conform to NMC’s requests, especially when they are made by a man who’s still (at least optically) tied time the previous controlling shareholders. It’s pointless Belhoul coming out in public and giving the big talk now, the time has passed, and the end in near.

Yes, sorry Rastuss, I was just talking generally, not about you or others specifically.

Agreed, too little, too late. If he wasn’t so tangled up with the buttis then there might have been a chance. He’s the wrong guy for the job. They needed someone completely independent but I’m guessing nobody respectful wanted to touch this...

Rastuss/mr rahman - I get your points, and I completely sympathise, but unfortunately shareholder rights don’t differ much by exchange or company size. The bottom line remains (and as history has repeatedly shown) that a zero/fraud is always a possibility when investing in stocks. It’s the risk you must understand and be willing to bare when investing in equities. If you can’t stomach it then still to other safer instruments. Sorry to be so blunt but that’s just the harsh reality.