Member Info for Dannyspaniel

I do get the feeling that ceo and other two were the brains behind this. Criminal.

It’s wholly unfair that shareholders bear the brunt of what has been a complete failure with the auditors, lenders and fraudulent activity. It beggars belief that in the region of £700m has been placed by book builds since the start of the year for “margin calls” and the investors have no recourse. Investors beware for sure, but this has been a shameful experience for the credibility of the uk as a regulator, the uae’s trustworthiness and the priority order on wind up. The money must be somewhere!!

Never expecting them to get to $40, but even with dilution they could get to $20 eventually. However, I’ll be gone well before that, £9 would be ok!!

Yes.

Gower, I don't disagree. It will be ages, at least a year, however they now have more than enough money to survive, and are discounted 85% from start of the year. That’s almost certainly the biggest hit of any company, even BA are only (!!) down 60%. Thinking long term if they get to half what they were in 3 years that will be a 300% increase, and it looks unlikely they will go bust.

You might be right. It hit a year low this morning. Hope not. I have a 7.23 average!!

Please remember these are 84% down since start of the year. A lot of panic sellers for sure. Can also move 200 points in a day (which would previously have been 5%). With a small amount of good news (corona wise) these could go back to 1200p where they were a week ago quite quickly.

I think those issues have been priced in on drop from £40. Clearly they won’t go bust if they can raise the funds and hopefully repay borrowing early.

Yes MrD I am sure that is true!!!!

If the profits, growth and assets have not been wholly misrepresented and they are a going concern, they should be able to become leaner and more profitable, all we have had is bad news. We don’t know any of the facts as to whether Shetty was a victim (unlikely), what role the banks played, do you get bonuses for arranging big loans? The question is whether creditors have faith in the reformed leadership, whether any debt can be written off, and whether current economic environment (corona) is a final nail. If profits head towards £500m as they were, then they will be able to service debt. If this were a better known blue chip (Tesco etc) it would be all over the news. Bet 99.9% of public have never heard of nmc. Interestingly Krupa, II’s generally and Clement have been very quiet.

In 2 years they’ll be £49 :)

My thinking is that if it’s fraud, there are assets there, albeit not worth a lot!

I agree. Where is Shetty or did I miss that. So the crooks hold 17% of the shares. We’ll be having those back then?

Worth looking at the history, went down as quick as it went up when it came out of suspension. There are a lot of solid companies at better value than this. Pick anything in the ftse100

I agree. The question is whether nmc are liable or not. If shares are the only collateral then nmc are only exposed to the extent of the shares pledged. Who knows. Greater evils in the world. I have s toilet roll I can sell for 100k to cover my losses.

Just thinking if the security for the loans were director owned shares that had already been pledged, then more fool the lenders? If shares have been pledged more than once, then the lenders are out of picket not remaining shareholders. Failure of Due diligence on lenders might be a pill they have to swallow? Green shoot.

Anyone think Shetty might have been scammed by the other 2 and CEO?

Ok. On a positive, Fin have gone insolvent. The fact that the extent of nmc liability is so much higher suggests that they are doing everything to save the company, which includes shareholder value. We don’t really know enough detail, but it’s definitely an option that the debts or some of them could be written off, and lenders will follow the money.

Um, on the basis of the info they have already supplied, what are you expecting to be in it???

$7.70????
Peculiar to see a few good days. Volumes not high but someone is buying!