NMC Health Plc - Update on financial position
FOR IMMEDIATE RELEASE
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
("NMC" or the "Company")
Update on Financial Position
NMC announced on
NMC is continuing to work with its advisers to understand the exact nature and quantum of the undisclosed facilities, including the circumstances in which they were obtained. The Board believes that some of proceeds may have been utilised for non-Group purposes and work is commencing on a project to trace such proceeds with a view to considering what actions may be available to the Group to recover such monies.
Furthermore, the Board has been informed of the presence of cheques (written by Group companies), which may have been used as security for financing arrangements for the benefit of third parties. A preliminary view is that the amount of these cheques totals approximately
Appointment of Chief Restructuring Officer
NMC announces the appointment of
Matthew has extensive restructuring experience, first as a restructuring partner at PwC for 19 years before transitioning to independent CRO leadership. He led PwC's Corporate Finance & Restructuring practice in the
With over 200 career restructuring cases to his name, Matthew has worked with some the region's largest companies and has been involved in many of the major restructurings in the
Resignation of Chief Financial Officer
NMC announces that following a period of extended leave for ill health,
In the short term, the Company has appointed a Director of Finance from internal resources and PwC will continue to support the finance function. The Company will progress the appointment of a new Chief Financial Officer in due course.
Focus on Operations and COVID-19
NMC's operational leadership has taken steps since January to ensure the safety of the Group's workforce during the current COVID-19 crisis and to meet the health and safety needs of the community, especially throughout the extensive network of long-term care facilities, multi-specialty hospitals and clinics across the GCC.
NMC continues to be fully focused on safeguarding its operational liquidity to continue funding existing operations throughout its various subsidiaries and to protect its employees and patients during this global health crisis.
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+971 (0) 56 219 0975
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NMC is one of the leading private healthcare operators in the
This information is provided by RNS, the news service of the
Quick facts: NMC Health PLC
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