FTSE Russell NMC Health (1810G)
March 13 2020 - 2:27PM
UK Regulatory
TIDMNMC
RNS Number : 1810G
FTSE Russell
13 March 2020
NMC Health PLC (UK): Suspension of Listing
Treatment in the FTSE Russell Indexes - Update
13 March 2020
Further to the notice published on 04 March 2020 , FTSE Russell
has received feedback from market participants, specifically as it
pertains to the price assigned to NMC Health while it remains
suspended. In accordance with Section 4.18 of the Corporate Actions
and Events Guide , it was previously communicated that NMC Health
would be retained at its last traded price (938.40p) for the
duration of its trading suspension.
However, FTSE Russell has noted that there are Depository
Receipts (DR) representing NMC Health ordinary shares on a 1:1
basis currently trading on the US OTC market*. Consequent to
feedback received from index users, FTSE Russell now proposes to
replace the NMC Health close price with the DR OTC close price from
the previous day on Wednesday 18 March 2020**. This is intended to
ensure that NMC Health is held within the index at an objective and
fair valuation with an appropriate index weight.
If and once NMC Health resumes trading, the price will revert
back to the LSE price and the treatment detailed within the 04
March 2020 notice will be followed.
If NMC Health does not resume trading and it has been concluded
to remove NMC Health in accordance with the Suspended Stocks' rule,
FTSE Russell will further consult (via an Informative Notice) on
the price which the deletion will be processed (e.g. zero or OTC DR
price).
*Ticker: NMHLY; 12 March 2020 close price: USD 1.40.
**Tuesday 17 March 2020 OTC DR close price will be adjusted by
the Wednesday 18 March 2020 spot rate.
FTSE Russell will continue to monitor and provide updates in 20
business day increments in accordance with the Suspended Stocks'
rules. After 40 business days, if NMC Health remains suspended and
retained within the index, its price will again be evaluated with
any change to its current valuation communicated accordingly.
FTSE Russell intends to review the Suspended Stocks' rule within
the Corporate Action guide with a view to clarifying the price
which a suspended stock may be held, while there is another
security trading that provides an appropriate valuation proxy.
If you have any comments, please contact your Client Service
team before End of Day on Monday 16 March 2020.
FTSE Russell will publish a further notice confirming final
treatment on Tuesday 17 March 2020.
For further information please contact FTSE Russell Client Services at info@ftserussell.com
or call: Australia +1800 653 680
Hong Kong +852 2164 3333
Japan +81 3 4563 6346
London +44 (0) 20 7866 1810
New York +1866 551 0617
Alternatively please visit our website at www.ftserussell.com
Terms of Use | Copyright (c) 2020 FTSE Russell
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
FTSKKNBBFBKDBND
(END) Dow Jones Newswires
March 13, 2020 14:27 ET (18:27 GMT)
Nmc Health (LSE:NMC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Nmc Health (LSE:NMC)
Historical Stock Chart
From Apr 2023 to Apr 2024