Oh No3 Mar 2020 19:09
(Is it over?
Alliance News) - NMC Health PLC on Tuesday said the holdings of former vice chair Khaleefa Butti Omair Yousif Al Muhairi and investor Saeed Butti Al Qebaisi fell significantly in February.
The UAE-focused hospital operator said that in the period from February 21 to March 1, Yousif's stake in the company fell to 3.1% from around 20%. Qebaisi's holdings dropped to 5.2% from over 11%.
This statement from NMC comes as the company continues in its process to "seek clarity" regarding the holdings of major investors, including those of co-founder and former joint chair Bavaguthu Raghuram Shetty, in respect to their holdings in the company.
The trouble started in December, when Muddy Waters raised doubts over NMC's financial statements, including reported profit and levels of debt.
NMC then attempted to unravel shareholdings of investors Shetty, Al Qebaisi, and Al Muhairi following the revelation of a complex set of share transfers between the trio.