Member Info for Analysister

Jeez you are probably correct!!! This adding up lark is tough...

What about their external auditors? Can’t they count the cash balances?

Totally agree with you. This share should have been suspended along with the RNS that they don’t know who actually owns the largest number of shares!!
Crazy

Agreed I won’t make much, Warren Buffet can afford to buy and hold etc. However so much uncertainty here for me from the: clinic purchase price, accounting for Aspen, really low dividends, relative valuation of their low margin supply business, aged debtor collections, reverse factoring?, even shareholding ownership! Head spinning stuff...

NMC have some very serious advisors listed on the 10 Feb RNS and I assume they wouldn’t have issued that without good reason. However KKR respond is surely a reason to update the market with your own RNS?
Must be whirlwind in the NMC IR department at the moment!!!!

I really like this sector and this seems a company that has a great position in high growth healthcare markets. However free cash flow is the big question for me (What is it?) along with clarity on ALL their liabilities. Once those two Qs are answered I may buy but stepping on to a moving rollercoaster is dangerous and I’m too conservative for that.....

Clearly states: “NMC confirms highly prelim approaches etc from KKR” now according to the KKR statement “no approach or discussion nor does it intend to etc”
Surely NMC should now clarify their RNS of 10 Feb?

That is exactly the issue here. Focus on the NAV and how to crystallise that value!!

Private equity always needs two things to make a bid. 1. Clarity & 2. Free cash flow (FCF). This business will be valued by PE at between 9-11 FCF. I don’t know what the FCF is of this business. That’s assuming PE can obtain clarity during their DD process.
Share price has been all over the place in spite of the NMC management saying their trading is strong, that speaks volumes.

I suppose greed is 1-0 up after today’s SP jump. Let’s see if anyone can make head or tail of that bewildering shareholder RNS!! Who actually controls all the shares? Does anybody know?
What a mess....

I wonder if Shell Australia “booked” the Chudditch reserves based on the seismic and well data?

You are probably correct but they have put the company in a really nice position with this gas discovery in the Timor Sea. Someone said earlier they won’t drill it they will work up Shell’s seismic data and their successful well result and sell it. So much cash around these days they might just surprise us all positively.

What are their external auditors thinking right now???

NEDs were buying this share in the £20s and in the mid teens only weeks ago. They are not in a close period yet, so why stop buying at this level?

Not a lot going to get done on a Friday out there. It’s their weekend! Hopefully the Board will have had time to review the report and make an RNS statement on “everything” (whatever their remit is) soon. I am unclear whether the investigation is into NMC cash balances or into all the stuff MW wrote about (Acquisitions, lease accounting, IFRS16 etc).

Just reading the details of this field adjacent to Chudditch. ConocoPhillips on their website said they discovered the field back in 1995 and it has already delivered US$20billion in taxes to the Timor Leste Oil fund! Presumably Chudditch gas and condensate will be exported through Bayu Undan.
Exciting, well done Malcolm!

Thanks for posting that, interesting that normally conservative Shell think there is so much gas and condensate potential on the block. Near the Asian gas market is the place to have a field these days!! GLA.
Between this asset and Peru there is enough to keep interest up in BOIL for a while!

And they will keep on circling until the overall cash and debt position is verified. No private investor will make a bid imo without extensive and detailed due diligence following completion of the investigation.

This is still a major U.K. public company. The shares have been volatile over the past several months but surely a 20% share price decline in one day warrants the U.K. regulators to insist the company’s Board make a clarifying announcement? I cannot understand why they would be allowed to keep quiet about this size of sp move especially given the scrutiny the company has been under recently.

Does anyone know when this will be announced? It can’t be too difficult a task to ask the banks how much cash and loans they hold for NMC.

Dividends (or lack thereof) are part of the issue here. They pay a pittance which is what worried me many months ago...