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NMC – shocker, and the read-across to Finablr is too.

By Nigel Somerville | Saturday 15 February 2020

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Fully-listed NMC Health (NMC), under a short attack by Muddy Waters, has updated on the shenanigans of the holdings of founder Dr Shetty and those of Khalifa Bin Butti and His Excellency Saeed Bin Butti and associated companies. It seems that a stack of shares were indeed pledged and have been sold as enforcement of security. Oh dear, oh dear – I wonder what the chocolate teapots round at the FCA will make of this, especially as it sounds as though the Bin Buttis has their shares pledged and sold without their knowledge. And then there is the read-across to Finablr (FIN) which appears to be grappling with the same issues.

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