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Looks Like This Is Good News for NMC
https://globalrestructuringreview.com/article/1228164/abu-dhabi%E2%80%99s-nmc-health-wins-us-recognition
If you haven't loaded up on this stock by now, you stand a chance of missing this boat... Don't loose out. Might want to think about buying before the good news comes out.imo
With recent news, there is no reason this stock should go down. I'm thinking we should gain a little because of the recent news.
Really! When I read this article, I thought it to be very positive.
Not sure what you saw in article that would make stock price plunge.
I would love to see 20 cent share price Monday, Would like to buy more at a bargain prices.
The administrators of NMC Health have questioned the firm’s founder, BR Shetty, as part of their inquiries into how the FTSE 100 hospital operator collapsed with billions of dollars of undisclosed debts.
Alvarez & Marsal has begun interviewing directors, shareholders and staff of the private hospital operator as part of its efforts to establish its true financial position and salvage NMC’s assets for creditors.
Mr Shetty, an Indian businessman who founded the firm in the United Arab Emirates in the mid-Seventies, is understood to be one of the people already interviewed.
NMC plunged into administration in April after being hit by confusion over the ownership of its shares, billions of dollars of secret debts and suspected fraud.
Mr Shetty vowed in April to clear his name and said he was the victim of “serious fraud”. He blamed company executives for the collapse of his business empire, which also includes Finablr, the struggling payments firm.
NMC scandal: the key players
BR Shetty
Indian-born businessman BR Shetty founded NMC Health in 1974 after working as a pharmaceuticals salesman in Abu Dhabi.
The hospital operator is the largest in the United Arab Emirates and listed on the London Stock Exchange in 2012.
Using NMC’s success as a springboard to pursue other business ventures, Shetty went on to found and invest in a string of companies, most recently setting up financial services company Finablr.
The 77-year-old father of four has kept family close when it comes to running his business empire. Each of his children were put to work for a week at one of his companies during their summer holidays, while his wife, Chandrakumari Raghuram Shetty, helped set up NMC and is the firm’s group medical director.
Shetty’s wealth, an estimated $3.2bn in 2019 according to Forbes, has seen him develop a taste for the finer things in life, particularly vintage cars – his favourite among his personal collection being a Morris Minor 1000.
Speaking to local reporters last year, Shetty said: “The thrill of speed and freedom makes me love cars.”
He has also splashed out on a private jet and two entire floors in the world’s tallest skyscraper, the Burj Khalifa.
The true value of Shetty’s personal fortune is now unclear after NMC admitted it does not know who owns all of its shares.
A person close to the administrators said they are “only in the foothills of their Himalayan expedition” to unpick the web of transactions that brought down NMC.
The investigation will involve a review of hundreds of thousands of accounting entries, according to a document filed at Companies House last month.
Administrators and advisers racked up £722,391 in costs, including £380,000 for lawyers at DLA Piper, in the 18-day pre-administration period.
Abu Dhabi Commercial Bank, one of NMC’s major creditors, has provided $1.5m to bankroll the administration with more expected to follow under a funding agreement.
NMC’s subsidiaries, which continue to operate, are expected to shoulder some of the investigation costs, the administrators said.
A slew of City firms, including the London Stock Exchange, Deloitte and FTI Consulting could lose hundreds of thousands of pounds of fees owed to them by NMC when it went bust.
The exchange, where NMC’s listing was suspended in February, is owed £186,000. Deloitte is owed more than £56,000 while FTI is owed £200,000.
Alvarez & Marsal said NMC may have drawn down materially less than the $7.4bn of debt facilities identified so far.
Richard Fleming, one of the administrators, said his firm had inherited a complex situation and is assessing whether it can make legal claims or take other action.
He said: “Our primary objectives following our appointment have been to ensure continuity of patient care, stability for staff and suppliers, protection of assets and immediate financial security for NMC’s operating companies.”
Mr Shetty declined to comment.
LOL
I can see from your post,
"With Shetty’s asset frozen, he won’t be able to pay the hospital’s staff. They are all going to quit and NMC is no more.No need for jury, this is already done with.
you are hoping we drop to .20
"The Truck Is Loaded"
Now it's just a waiting game.
Waiting for BR Shetty's next court hearing news (June 30).
Waiting for a Yahoo News, a Doomsburg article or a press release on the NMC 3 year turn-around plan.
Waiting for the "Short Squeeze" to begin.
And if it does drop to .20 cents while I'm waiting, I might have to hook up my trailer and load it too.
B/R
Possible Good News Could Come Monday Morning.
Shetty's court hearing should give us a little share price bump if his assets are released and salaries are paid.
Sounds like "Good News"
Mr Shetty, who remains as co-chairman and majority shareholder of the group, said he is confident about its future and is working on bringing in external investment.
“We are working on it – on getting a good investor,” he said.
Asked how long this would take, he said “within a month, maximum”.
Updated: May 27, 2020 03:04 PM
Looking for a Big Green Monday
Brand New Company!
I agree ... Feel like a Brand New Company. Thinking on adding a few shares . just don't know how low it will go.. Maybe at bottom now.
Buying Opportunity ?
Thanks for the reply... Wouldn't you think if we were going to get a good earnings report Friday, we would not need a buffer. Possible short squeeze with good news and a a/h Friday release. Just thinking out loud...
My problem with Peregine is not so much the R/S... You do what you have to do to stay listed...... Why did it have to be a 1 for 7 split? Wouldn't a 1 for 3 or 1 for 5 done the job of keeping us listed...? Just Saying
No job openings at Peregrine or Avid seems unusual. Is this common during a Merger or Acquisition?
Wow. The Peregrine website {pipeline} has been updated...
Thanks CP for your response.
I value your opinion. I am an optimistic person as long as the facts are on my side... I do think insider buying is a good sign and I believe in the science. I'll continue to hold til I no longer believe in the science...
Thanks,could this be a Good Sign...
SEC Filing Form 4
http://ir.peregrineinc.com/secfiling.cfm?filingID=1019687-16-6462&CIK=704562
Who is Ziebell, Mark R ?
American Society of Clinical Oncology (ASCO) Annual Meeting
http://ir.peregrineinc.com/events.cfm
Visit Peregrine at exhibit booth # 13153
Change in Peregrine Website
http://www.peregrineinc.com/pipeline/overview.html
Maybe it is that Peregrine has submitted
a trial plan to AZ and waiting for their approval...
I agree....
just looking for any news or hint to what's going on....
Changes To Peregrines Website?
http://www.peregrineinc.com/clinical-trials/overview.html
Not sure if this has been posted....
Two clinical trials now say:
"Trial Design Under Evaluation"
I Totally Agree With Your Assessment...
I'm Not Happy With The PPS, But Have Not Given Up Yet... And Not Willing To Sell At This Time.. I Still Believe There Is Light At The End Of This Tunnel..
Is It Possible
That They Could Announce The Start Of Enrollment For The Two Plan Trails Listed On ClinicalTrials.gov
Guess I'm A Little More Optimistic...
Don't Think They Would Bother Changing Website, If Something Good Wasn't About To Happen...
Pipeline Overview on Peregrine Website doesn't show pipeline anymore... What's up with that?
Looks to me Peregrine is working hard
to get the right people and institutions exposed to Bavituxamab... Time will tell...
I agree, Very impressive list...
I can't imagine that they would waste their time on a placebo or even a product that they don't believe has a chance of success...
The NCCN Member Institutions are:
Fred & Pamela Buffett Cancer Center, Omaha, NE
Case Comprehensive Cancer Center/University Hospitals
Seidman Cancer Center and Cleveland Clinic Taussig Cancer Institute, Cleveland, OH
City of Hope Comprehensive Cancer Center, Los Angeles, CA
Dana-Farber/Brigham and Women's Cancer Center | Massachusetts General Hospital Cancer Center, Boston, MA
Duke Cancer Institute, Durham, NC
Fox Chase Cancer Center, Philadelphia, PA
Huntsman Cancer Institute at the University of Utah, Salt Lake City, UT
Fred Hutchinson Cancer Research Center/Seattle Cancer Care Alliance, Seattle, WA
The Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins, Baltimore, MD
Robert H. Lurie Comprehensive Cancer Center of Northwestern University, Chicago, IL
Mayo Clinic Cancer Center, Phoenix/Scottsdale, AZ; Jacksonville, FL; and Rochester, MN
Memorial Sloan Kettering Cancer Center, New York, NY
Moffitt Cancer Center, Tampa, FL
The Ohio State University Comprehensive
Cancer Center - James Cancer Hospital
and Solove Research Institute, Columbus, OH
Roswell Park Cancer Institute, Buffalo, NY
Siteman Cancer Center at Barnes-Jewish Hospital and Washington University School of Medicine, St. Louis, MO
St. Jude Children's Research Hospital/The University of Tennessee Health Science Center, Memphis, TN
Stanford Cancer Institute, Stanford, CA
University of Alabama at Birmingham Comprehensive Cancer Center, Birmingham, AL
UC San Diego Moores Cancer Center, La Jolla, CA
UCSF Helen Diller Family Comprehensive Cancer Center, San Francisco, CA
University of Colorado Cancer Center, Aurora, CO
University of Michigan Comprehensive Cancer Center, Ann Arbor, MI
The University of Texas MD Anderson Cancer Center, Houston, TX
Vanderbilt-Ingram Cancer Center, Nashville, TN
Yale Cancer Center/Smilow Cancer Hospital, New Haven, CT
I'm A Unhappy Shareholder..........
I have never had anything bad to say about Peregrine or Management, but this was the worst ASH CC that I have ever listened to. I feel as if my contribution to helping finance this company through share purchases are not appreciated. Not all of us can attend the meetings and rely on the CC to inform us. I feel let down and uniformed. Very Disappointed.
Next PR will sends PPS soaring....
Might be good ideal to buy now while prices are low....IMO
Thanks for your response.. Do you think this is for partner and just financing..
Question... What is the difference between
"At Market Issuance Agreement entered into between us and our sales agent, MLV'. and
" Equity Distribution Agreement entered into between us and our sales agent, Noble"