Member Info for Castaway

Maybe the Butti's had used the shs as collateral for loans . from the RNS yesterday: Pursuant to an agreement dated on or around the date of this notification (the "Transfer Agreement"), each of Khaleefa Bin Butti and H.E. Saeed Bin Butti has agreed to transfer the Transferred Shares to an entity wholly controlled by ICP. The Transferred Shares will remain subject to the lock-up terms entered into by KBO and HSMB on 8 January 2020.



The effect of this transfer is that, as ICP (through its wholly controlled entity) will own the entire issued share capital of each of KBO and SMB and accordingly, ICP will indirectly own the Voting Shares, for which it has held the voting rights since 1 March 2020 pursuant to the Agreements. In consequence, pursuant to the Transfer Agreement, each of the Agreements will terminate.
They may have little value monetarily, but 9% of the voting rights is worth having if your making a play for the assets

https://ithmar.com/investments/#!

So the management from Il Noor Hospitals will take over with debt restructuring/refinancing from Ithmar by the looks of things?

"The Board would like to thank Mark for his significant commitment to NMC during his tenure as Chairman." Any shareholders want to thank him?

Dead right and thanked Tompkins who was chairman from before IPO - if he didn't know what was going on he was incompetent if he did he is an accessory to the fraud - no wonder he is ill!

No Mrd - I think it would have come by now - looks like they are going for a restructuring of the debt and keeping it as a going concern. Belhoul looks like a man that can sort it. I am not sure what shareholders will see at the end of it but it's better than admin for sure

I agree KSH - looks positive and likely Ithmar are going to do something with NMC from the RNS "Mr Belhoul is a founder of Ithmar Capital Partners and currently serves as its Chairman."

BOOoom - you were totally incorrect you said lifting costs were $45 when they are $30 and you also said RRE would be a £1 - hilarious!

I agree Echo - may take a little longer with lockdown but there is huge potential with BOD this year.

I think the pics on Twitter have more value along with James explanation of how a diamond asset is developed again on Twitter - JC is a very honest and matter of fact guy, who does not ramp whatsoever. You have to evaluate the facts and decide if they have something at Marsfontein - based on the history, pics and the facts, I think it looks very good.

No it stands for mistrust, fraud and robbery!

This is hilarious! from BRS Ventures website: "BRS Ventures Investment Ltd is a holding company owned by Dr. B.R. Shetty. Evolving from a humble healthcare centre in 1975 to a vibrant and eminent conglomerate in the Middle East, BRS Ventures today stands for trust, dynamism, growth and quality."

http://www.brsventures.com/about-brs-ventures/

Vulcan the chance of getting any cash back from Shetty are nil - he did own the largest money transfer business in the Emirates - or should I say it was a money laundering business - well for him it was!

scored - hanging, firing squad and stoning all legal in the UAE https://en.wikipedia.org/wiki/Capital_punishment_in_the_United_Arab_Emirates

The Board of NMC has received another update on 23 March 2020 advising that the Group's debt position is currently estimated to be around $6.6 billion, including the $360m convertible bond and $400m sukuk. The Group's bilateral and syndicated debt obligations are comprised of over 75 debt facilities from over 80 financial institutions. Work on verifying the outstanding debt obligations is continuing.

That's interesting Mrd, looks like there is hope for shareholders, may take some time to sort out. Looks like it was a huge fraud from the start if they paid inflated prices for most assets they acquired - wonder where the excess cash went ;-)

Daman have a stake in NMC - if it folds they are compromised - their clients need a good health care system - makes sense for them to support NMC for their business.

This is a a very bad time for all, in the markets and in reality. OK MAD was potentially far worse, but this is the largest biological challenge to society I have experienced in my reasonably long life. Climate change is longer term but also a concern. Covid-19 is much shorter term and a prescient danger. This is a Flu epidemic and no matter what we do will run its course, as the PM says we need to stay isolated for the next weeks until the virus peaks and then slowly life will get back to normal. This bad, but not that bad, it is not 1918 IMO where the flu killed young men and women - we have far better care these days. We need to protect the vulnerable and not mix socially until the stress on the health service is lowered.

munch there will be other dark days over the coming months, but I am positive this will not last for too long and RRE will recover to decent levels - if you can wait.

I agree it's worse than 2008 pione3r, but it is completely different - that was an overheated economy, too much personal and banking debt, poor liquidity, dodgy mortgages in the states and greedy banks. This is Covid-19 and an oil price war - I think it will be shorter lasting but much deeper. This will be a true recession though with unemployment and a big wake up call to those who are younger and who have never seen a proper recession before. The world economy will take years to get over it. However the fall has been so large there should be a recovery equally as quick to higher levels - still lower than before obviously, but much higher than present.