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AlexKA11: : sorry where did I state they decided to pay back debt . I just stated a fact that they paid back these loan early, because they did and we know it was not by design or intention . Didn’t allude to anything else. But paying back loans early tuna originally intended surely must have an impact to rate of expansion and also on cash mgmt. That’s the point I’m making on the way I see it

It was hard decision but decided to dump 70% of my holding since Monday. 3 tranches avg price:just over 14. Main reason has been lack of news on cash which is was meanr to ve first annoucement of results following review. For me This has taken far too long for me if all the financials were in order if you wanted to give assurances to he market. They have been too tight lipped since they announced rec and just putting out news which on the on the man has been very mixed and raised more question that answered
Following 2 book build I now reckon there is majoring redtrcuturign and governance going in behind he scenes,with Freeh overseeing. You don’t pay back £400m of debt early and at a personal financial loss to owners and all the future financial forecasts still remain in place. Share buyback is the first promise they made which they commenced post MW reportm very quickly halted and no comms as to why. I think further may slowly stream out which will have more conservative undertones rather than being champagne all round

I think this company just wanted to expand far too quickly and aquire toommnay new assets and go into joint ventures putting shares up for collateral and this has caught up. Company probably to reset it self and has to rely on or organic growth of its existing business and adjust its 3-5 year forecasts to reflect . In this scanario, i think will grow more gradually and will stay in teens for medium term.

But this is purely my opinion on how I’ve processed everything I’ve seen and read

I’ve taken a big hit, but luckily my other stocks are dong well enough to absorb alot of my lossesand give me an an option to peg back else where. Have bought into Hargreaves for now at £18 mark and see here this goes,in advance on there interim result announcement Friday.

Good,luck to all of you that remain, hopefully those that have in at these current sp levels will see an upturn in due course upon some constructive news release from this company

Given low volume of trading over past few days any short closing this week will likely be in small increments of any. But anything is better than nothing

Psquared,reduced to 0.85% on 24/1

Given whole market is way down including pharmaceuticals i don’t know how this is even being propped up at this level.

It’s deciding what to do next..

Ftse taking a proper tanking today - down over 2.25 %

Both transaction in Jan 23.

Norges holding just under 4%

Capital Group has increased holding by 0.4% to 12%
Norges bank has decreased its holding by 0.3%

Pretty mixed bag

NMC is still the only ftse 100 stock in blue here today and it’s trading on low volumes. Day traders look to be propping this up against a negative backdrop of rest of market, probably taking advantage of speculative call led by Barclays with NMC. Wouldn’t be surprised if it gradually retreats back this pm as day traders make their quick wins and nothing concrete come from call (if it takes place that is....)

Krupa or one of the other IIs on call will probably put out a follow up article to give their latest opinion.

Blackrock gave their opinion last week through a portfolio updated, when they claimed they had exited NMC at end of Dec at a loss after directly asking question around cash and debt postion for MW report and not getting an acceptable response from the mgmt

It sound like the is pro-actively led by Barclays who we know is major backer of NMC and presumably a major shareholder. So it is possibly only going to be a quick update as to the progress of the review and when the first finding around cash postion which is what they originally promised to share will be released.
Be interesting to see if the IIs on call directly ask question on cash position to get some early assurance or if NMC response is to wait for Feeh to complete review.

Im surprised an investor meeting or call with major shareholders is not declared on RNS?

This is interesting as this a follow-up from a a original report they did on Dec27 where they totally criticised NMC mgmt inlihtn MW allegations.

So they have had a change of heart and bought in as in their opinion even if some MW allegations were true its not enough to bankrupt company and share price is undervalued. Fair value for them is currently £20 and they have stake 1m shares stakes on this.
This maybe a short term punt for them...

FTSE totally in red, only NMC blue. Something afoot

I did a re-read of MW detailed report on 17 Dec and processed against all of the events since.

We know all about the rebuttle and around hospital space, but the MWs review of debt and cash is interesting from page 30 onward

Eg On page 32 /34 it does it own audit of share transactions by owners/ insiders and itemizes the pledges and amount od shares pledged, which we have now sold down. It also she Shetty has 2.56m shares pledges which I don’t think have been called in yet.

Will be keeping a close eye on cash position

http://d.muddywatersresearch.com/content/uploads/2019/12/MW_NMC_12172019-1.pdf

So as a PI you are then assuming the action taken. by a II who are professional investors And who have stated on the record they have asked legitimate questions are premature and they are not necessarily familiar with circumstances of an independent review period of what can and cannot be divulged.

Then you have. Margin call made by banks in past 2 weeks, again during period of independent review and again they are premature as the independent review according to us PIs will exonerate company and restore sp to £25

I’m in big on this company, but I need to process and absorb what events Im seeing her and this company is at best on back foot and they are hiring heavy weights to do review. But then so did Oj Simpson hire big time defense lawyers to find him innocent, but that was more on basis of proving that guilt was not beyond reasonable doubt rather than him being totally innocent.

Everyone will take their positions on this stock and good luck to everyone as I see this as a punt

Anyone see this update form Blackrock yesterday? Not good if you are looking for confidence to invest in NMC .

Quote for RNS extract

We made a few recent changes to the portfolio. We sold our position in UAE hospital operator NMC Health post allegations over its accounting practices, particularly its use of cash. We investigated the allegations extensively and could not get comfortable with retaining the position. We were disappointed with the response we received from the company and having lost trust in management we exited. We also exited our holding in Saudi Aramco post strong price performance in the aftermath of its IPO, as well as trimming Ecopetrol on strength.”

So here have an institutional investor who were asking directs questions on cash (basically the same as what us PIS are thinking ) and even with review going on they were not convinced and parted company.

I know what I’m doing next...

Good luck fella. Too volatile for me at these levels and with what happens past 2 weeks any news could swing this Sp one way or another, it’s a 50/50 gamble.
Day trading is only way I would play this sp currently but don’t have balls for that.

Incredible to have to have to think like this on a FTSE 100 stock.

Just read the news yesterday on Finablr and Mr Shetty in FT

“ Finablr on Friday said that 392m shares, representing 56 per cent of the company, had been pledged as security for debt used to refinance the acquisition facility used to buy Travelex in 2015. Some of this debt had been repaid from Finablr’s initial public offering in 2019, it added. “

For me, This is not just a coincidence now what has happened to NMc and Finablr regarding cash and debt. These 2 companies are intrinsically linked through Mr Shetty’s owership

It wouldn’t surprise me if this is a case of Petermismpqyingn Paul here and both these companies have funds channelling between each other to give the other support.

Either way, putting conspiracy theories aside Mr Shetty and the other Arab owners have well and truly been ‘Touched’ now by the market and have to give up a large amount of their own wealth to repay debt.
Both these companies will soon be laid bare for all to see and judge