23 Dec 2019 07:00
23 December 2019
NMC Health plc
(the "Company" or "NMC")
Announcement of Independent Review
NMC Health plc (LSE: NMC) states that, following the attack on the Company last week, we issued a detailed rebuttal and are disappointed with the very material and, we believe, unwarranted share price reaction.
Our independent Audit Committee and our new independent Disclosure Committee respectively monitor and review disclosure and financial reporting to ensure that it is accurate and complete. In addition to this ongoing governance structure and the statements we have made to date to provide additional reassurance to shareholders, the Company will be commencing an independent third-party review, undertaken by a leading accounting firm, to review the assertions made by certain third parties.
This independent review will be overseen by a committee made up of a majority of Independent Non-Executive Directors of the Company, which is being formed. We are confident that this review, when complete, will be entirely confirmatory of the disclosures provided by the Company to date. We will also be progressing relevant legal and regulatory options following the actions taken by third parties to mislead the market and manipulate the share price.
The Company believes that the current share price is not a fair reflection of the value of the Company which has a consistent track record of strong growth and cash generation.
We will keep investors updated as we progress these initiatives in the coming weeks.
Contacts
NMC |
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Asjad Yahya, Investor Relations | +971 (0)56 219 0975 |
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Media |
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FTI Consulting, London |
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Edward Bridges / Simon Conway / Victoria Foster Mitchell | +44 (0)20 3727 1000 |
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FTI Consulting, Gulf |
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Shane Dolan | +971 (0)4 437 2100 |
About NMC Health
NMC is one of the leading private healthcare operators in the Gulf Cooperation Council ("GCC") with an international network of multi-specialty inpatient and outpatient clinics and hospitals, specialized maternity and fertility clinics, and long-term care homes hospitals across nineteen countries. NMC also ranks as one of the top two in-vitro fertilisation operators globally. The NMC Health group is recognised as a leading provider of long-term medical care in the UAE through its subsidiary ProVita. Pursing a selective international expansion programme since 2016, NMC has total capacity of 2,207 licensed beds across its network. Moreover, the recent formation of a joint venture with GOSI/Hassana Investment Company provides a solid platform for continued growth in the GCC region's largest healthcare market. The NMC Health group treated over 7.5 million patients in 2018. The NMC Health group is also a leading UAE supplier of products and consumables coming from healthcare related products. NMC reported revenues of US$2.1 billion for the year ended 31 December 2018.
In April 2012, NMC was listed on the Premium Segment of the London Stock Exchange. NMC is a constituent of the FTSE 100 Index.