NMC Health Plc Statement regarding Abu Dhabi Commercial Bank (8197I)
06 Abril 2020 - 1:00AM
UK Regulatory
TIDMNMC
RNS Number : 8197I
NMC Health Plc
06 April 2020
6 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 Abu Dhabi Commercial Bank
The Company announces that it has been informed by lawyers
acting for Abu Dhabi Commercial Bank PJSC ("ADCB") that ADCB has
filed an application dated 2 April 2020 with the High Court of
Justice, Business and Property Courts of England and Wales,
Insolvency and Companies List (ChD) for the appointment of
administrators in respect of the Company under paragraph 12(1)(c)
of Schedule B1 to the Insolvency Act 1986 (the "Application"), and
that a hearing has been scheduled for 9 April 2020.
The Board is in discussions with ADCB and other creditors to
address creditors' concerns; to have the application withdrawn; and
to avoid the appointment of administrators, which it does not
believe would be in the interests of stakeholders as a whole. The
resolution is likely to involve material changes to corporate
governance of the group and the composition of the Board
itself.
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
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
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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