Member Info for Castaway

Just watching the podcast from last week on Malcy's blog, Andrew Austin stated week of 23rd March for results

OK thanks Special, not BOD members as they would want to protect their positions and IMO would have been aware of the ponzi, more likely financial press share bloggers, possibly II's etc.

If FIN goes to a penny I will buy some as a punt on a dead cat splat and be prepared to lose it - however IMO this company is basically screwed like NMC is. Do the research on Shetty - look at the accounts in his companies as I have, with what we know now they are fiction.

Which third parties are you referring to Special

I doubt Covid-19 will stop the rise in BOD if they discover Marsfontein 2, though it may blunt it, it will be a year or two before it's mined but could be worth several 100's of $mil

Just to add - Freeh came up with the fraud after NMC had been suspended for nearly 2 weeks and shareholders maybe lost it all!

Latino - do some research on NMC, Shetty's jewel in the crown - he appointed a very respectable independent investigator in Freeh - ex top FBI guy - it was a stalling tactic!
Freeh came up with the fraud in NMC, and by the time he had it was no surprise.

We will have to see what unfolds, could be many months before it draws to a conclusion - I personally always look at the downside and anything more is a bonus.
On the bright side was that the whole market is screwed right now so NMC would have been anyway - it's not really a bright side is it? - I hope all the posters/readers of this BB with positions in NMC do well going forward - NMC is not the only disaster right now. These are extraordinary times - GLA

If NMC was still trading the s/p would be pennies probably, the rest of the market is getting hammered so any funds we may have got out would be down anyway - no it's not great, but NMC shareholders are not the only ones suffering right now and I or anyone else for that matter (apart from adzy of course) knows where the bottom is!

I am not familiar with the technical aspects of money transfer across different countries, however I presume customers cash and company funds are seperate (as in all properly run financial businesses?).
The other highly cynical and probably incorrect thought is was the "cyber attack" in January a convenient way of consolidating cash flow i.e. payments in and no payments out for a while?. I only think this as we are beginning to see the potential fraud in all Shetty's businesses unfold.

Problem is adzy no one is flying and the fixed costs remain the same

Mrd the stocks I usually trade are over 50% down now and we have a long way to go yet before this Covid-19 is finished. Hopefully a bounce tomorrow, but IMO there is further to go down before recovery

First of many probably, when the US gets locked down where will it be?

Under normal circumstances I would be buying FIN, I was in at 70p saw what Shetty did to NMC and sold with a small loss - If you research what has happened in NMC, you may gather that his whole empire is based on a ponzi and that ponzi is crashing. IMO there is nil cash in any of his companies NMC have none, FIN have reported the same this morning. Looks like all the accounts in his entities have been totally misleading and all the cash has gone. Shetty is sitting on potentially billions of banks, shareholder/bondholders cash, or he has lost it on poor acquisitions and keeping the ponzi afloat - it will come out in the wash eventually - too late for PI's though!

The only way I can see any value for the common shareholder is if the "extra" loans Shetty and his ganag took can be proved to be fraudulent and NMC cannot be responsible for their repayment. Even before these loans were reported I was of the opinion there was nothing left for PI's as the loans are just the tip of the iceberg for me - I believe the profits were overstated and asset values also. I think there is a glimmer of hope, but I am resigned to the fact shareholders will get nothing. I have done many of this type of collapsed share over the past decade and usually do pretty well, (even if a dead cat bounce) I knew the risks, but I didn't think a FTSE100 company could be a complete fraudulent ponzi - live and learn - learn being the operative word!

Shetty resigned 17/2/20 Freeh was engaged 17/1/20 - NMC made this statement on that date - NMC Health Independent Committee Retains Former FBI Director Louis Freeh to Conduct Independent Investigation. NMC Has Previously Called Assertions Made by Short Sellers 'Unfounded, Baseless and Misleading'. - you can make your own mind up who was in control at that point.

It is now clear that Shetty employed Freeh to bide time whilst he made his escape, the rest were employed by the BoD as they were clueless as what to do or what had happened - the guilty cabal fronted up the ponzi claiming to be the victims and the clueless NED's blew more cash on debt experts and lawyers to no doubt protect themselves from conviction.

KOH, most (if not all, we don't know yet?) of the other "pledged shs" Shetty had have been sold by the creditors he pledged them to as they knew he was never going to pay them back. Why would his FIN shs be different, he has clearly mislead the market previously as have other members of the cabal at the top of his empire. I was long on FIN until the RNS in NMC on the 26th and I sold out at a loss. We don't know exactly what has gone on yet, but after the news in NMC ($2.7bn debt no one knew about!) it looks bad for all his companies .

I doubt the UAE government is concerned about shareholders in a UK listed company (the majority being institutions). They will be concerned about the continuity of healthcare for their people. However if the debt of NMC is $5bn, I cannot see anyone would be insane enough to make an offer for the company - as a going concern it has value, but if you look at the accounts the tangible assets are worth maybe 1.5bn max and IMO the profits look to have been exaggerated (as per MW) 25% net seems pretty good for healthcare. I wish I had looked at the accounts in more detail before I bought in, I did not consider a FTSE100 company could be a ponzi - I was wrong. Unfortunately I think shareholders will get nothing back from their investment. IMO there is worst to come Shetty has probably created the biggest ponzi in recent history and his empire was built on debt extracted from gullible banks. The auditors should be held responsible for this catastrophe as should all the independent directors of all Shetty's companies. Those high profile idiots who get a freeby non exec position need to pay for their pay cheque for eff all.

https://cf-cdn.nmc.ae/Uploads/InvestorRelations/nmc-health-plc-half-year-results-22-aug-2019-a2196d12-44d1-4383-9249-bb64e71eb09c.pdf
If you look at the balance sheet - even without the MW report it looks very thin on tangible assets - the whole company is a sham, but not just PI's were fooled the city was as well