NMC Health Plc Statement re. administration application by ADCB (2616J)
April 08 2020 - 10:09AM
UK Regulatory
TIDMNMC
RNS Number : 2616J
NMC Health Plc
08 April 2020
8 April 2020
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 Health plc
(the "Company" or "NMC")
Statement regarding administration application by Abu Dhabi
Commercial Bank
The Company refers to its announcement on 6 April 2020
concerning the application by Abu Dhabi Commercial Bank PJSC
("ADCB") for the appointment of administrators in respect of the
Company at a hearing scheduled for 9 April 2020.
The Board has written to the Court indicating that,
notwithstanding strenuous efforts to address Creditors' concerns,
it has not been able to secure their alignment and support and has
been advised by its counsel that it is not in a position to oppose
the application successfully. Accordingly, it expects the Company
to be placed into administration in due course.
The individual responsible for releasing this announcement is
Simon Watkins, Group Company Secretary.
Enquiries:
NMC Health plc
Asjad Yahya, Head of Investor Relations +971 (0) 56 219 0975
FTI Consulting LLP
Edward Bridges / Simon Conway / Victoria Foster Mitchell +44 (0)20 3727 1000
Shane Dolan +971 (0)4 437 2100
About NMC Health
NMC is one of the leading private healthcare operators in the
Gulf Cooperation Council ("GCC") with an international network of
multi-specialty inpatient and outpatient clinics and hospitals,
specialized maternity and fertility clinics, and long-term care
homes hospitals across nineteen countries. NMC also ranks as one of
the top two in-vitro fertilisation operators globally. The NMC
Health group is recognised as a leading provider of long-term
medical care in the UAE through its subsidiary ProVita. Pursing a
selective international expansion programme since 2016, NMC has
total capacity of 2,207 licensed beds across its network. Moreover,
the recent formation of a joint venture with GOSI/Hassana
Investment Company provides a solid platform for continued growth
in the GCC region's largest healthcare market. The NMC Health group
treated over 7.5 million patients in 2018. The NMC Health group is
also a leading UAE supplier of products and consumables coming from
healthcare related products. NMC reported revenues of US$2.1
billion for the year ended 31 December 2018.
In April 2012, NMC was listed on the Premium Segment of the
London Stock Exchange.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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