NMC Health (LON:NMC) today noted the publication of the report from Muddy Waters on 17 December 2019 and the resultant share price reaction.
NMC understands its regulatory disclosure obligations and has nothing to add to disclosures already made. It has already responded to many of the allegations made in the report over the past 12 months, which can be found on the Company website, see https://nmc.ae/investor-relations.
NMC will review the assertions, insinuations and accusations made in the report, which appear principally unfounded, baseless and misleading, containing many errors of fact, and will respond in detail in due course.
The Company has a track record of significant, open and increasingly detailed disclosure to the market, as monitored and reviewed by its entirely independent disclosure committee.
NMC remains a growth company, with a solid balance sheet generating strong levels of cash as demonstrated by yesterday’s buyback of $90 million of its Convertible Bonds due 2025, which has been repaid through existing cash balance. This prepayment is in addition to the regular amortization of long-term loans during 2019. NMC also reiterated its leverage guidance for 2019.
NMC reaffirms its broader trading and operational guidance for the business for both 2019 and 2020 as disclosed at its recent Capital Markets Day held on 21 October 2019.
Additionally, in a separate announcement this morning, the Company announced that it has put in the place the formal mechanism through which it can now begin to execute the $200 million share buyback programme that NMC Health’s shareholders approved on 5 December 2019.
