Member Info for shamI89

In most of the cases they lay out we will be out of buisness without this restructuring and investors have no choice but to vote it through.But banks would have final stay as they own the company effectively.

Esl hit 4.5 and then went up to 20 at one point.It was a punt for me but I managed to nearly treble my money.Right now there are some really attractive oppourtunities in the market but corona virus would have to go first.

It is pointless exercise arguing over bb, they would have to release audited results first and that would determine the cash/debt level.Freeh started working on it in January and we have Match but he has found some irregularities and was unable to confirm debt/cash level, so that tells you that debt level is higher then we thought, now company is using somebody to advice them on debt restructuring.Time would tell but there are some clear signs that these lot doctored accounts.D4E swap is most likely scenario if company does not have enough cash and profit margins are much lower.

Adzy I remember you posting picture of your trading profits and your broker was H&L.I went through H&L policies regarding stop loss and they don't gaurantee that .So if you are using IG then you should be fine.

Not really been trading for quite some time and but looks like you dont understand D4E swaps.I would ask my broker again if I were you.

Adzy you forgot to mention that you were sprouting fraud fraud about a month ago and thought company wont survive.What made you change your mind? Perhaps you got greedy and got in for a quick trade.That gauranteed stop loss wont work if company got suspended.

They are probably aware of situation and would be going through books.Go through Debenhams, flybe and TCG and you will find out that they were making similar statements.

Bonds were trading at 53.7 so that tells you all you need to know.This is becoming a common sight now, people losing all of their life savings and nothing is done about it. BR shetty has done really well out of this and defrauded private investors.

You forgot to mention that shareholders were wiped out in most of the cases.If you are long here Adzy then you can say good bye to that money, because my understanding is that they have probably found a blackhole in the accounts and that is why they have sent the CFO on "extended sick leave" .Now actual debt is much bigger, profits and cash balance are much lower and they are in possible breach of convenants.

I got a lot of abuse when I suggested that copany would be recapitalized. Got a feeling that Shetty and co were fully aware that they took out loans against shares but only fessed up when they were contacted by Freeh.if they are using some debt restructuring specialist then rest assure that situation is really bad .

Abraaj group is another example and was worth much more than nmc at one point.It turned out to be a complete fraud.Corruption is everywhere and no country is immune to it. I do wonder sometimes if stock market is a mechanism to steal money from investors.

Nmc would carry on working under different management but shareholders would be wiped out. Really old practice in stock market, management departs, lenders take over the company and shareholders get nothing.

Too be honest , I have come across many too big to fail scenarios, afren, carillion, flybe, debenhams, tcg and many more. Pattern is same , cash flow problems , BOD departs, auditor departs, lenders get worried and shareholders get wiped out. But all speculation on my part however Freeh report has published its initial findings and that does not look good.

They are considering and I am sure would do so after due diligence. But report is final nail in coffin, report would publish its findings and audited final results would be published afterwards.It is good two months away .There would be some sort of banking convenants in place and lets hope that company is not in breach of them convenants.

Three major shareholders have almost sold their stakes in the company, CEO was fired and almost whole BOD has gone. Recent findings have almost endorsed mw's allegations and current liquidity crisis is looming. A share buy back scheme was announced but it only used 2% of intended capital expenditure. Company announced it had held meetings with three potential suitors and one denied it next day.Founder of company fesses up that he did pledge shares as collateral but was unable to identify how many shares he is holding.Now this report confirms that there are some financial irregularities but is unable to confirm the cash level and CFO got suspended and CEO got fired.

Tend to show the clear picture and if they are trading at 53% then rest assured that company is screwed as they effectively own the company and 53% yield indicates that they are not sure they will get their money back.Freeh report would clarify situation and I would like to see them confirming the cash level, if that doen not happen and company is found to be overstating profits and cash flows then recpitalisation has to occur at some point and equity holders would be wiped out.

BR shetty and others were taking out loans and company was to pay off them loans in the case of a "default". They have found some indescrepncies and gaps in statements, so either some cash is missing or profit margins have been overstated.Situation here is really complex , actual debt is much higher, we dont know how much cash they have and worst we dont know how much profit are these guys making?

Get an take-over offer at present as company is being investogated.Right now Cash level would be verified, all debts would be compiled and profit margins would be checked. From this report it looks like actual debt is higher than 1.6 billion, they were not so vocal about cash level and profit margin.Right now cash is king

Institutional investors are dumping their shares between 9 and 10, share price gets to 10 and then all of sudden you cant sell anything.Dumping is not aggressive as yesterday so they cant have that money stock left.Ask is staying firm which bodes well.

Sorry to hear about your loss mate, it might come out of suspenion and may trade higher than today .But I am really surprised that you had a big money pot to invest in and you did not diversify.