🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Shares

Premarket London: NMC Hits Back at Muddy Waters

Published 18/12/2019, 07:22
© Reuters.
FERG
-
PSON
-
CEY
-
NMC
-
EDV
-

Investing.com -- Here is a summary of the most important regulatory news releases from the London Stock Exchange on Wednesday, 18th December. Please refresh for updates.

  • Middle-eastern hospital operator NMC Health (LON:NMC) hit back at short seller Muddy Waters Research, saying the accusations it published on Tuesday "appear principally unfounded, baseless and misleading, containing many errors of fact."
  • It said it would review the "assertions, insinuations and accusations" and respond in due course.
  • NMC Health plunged over 32% on Tuesday, losing $2.4 billion in market value, after Muddy Waters, owned by Carson Black, alleged it inflated cash balances and understated its debt.
  • The healthcare chain has enough confidence in its balance sheet to have announced a $200 million dollar share buyback program at the beginning of the month, as well as buying back $90 million of subordinated debt earlier this week.
  • Plumbing and heating group Ferguson (LON:FERG) said it’s appointed Simon Oakley as CEO of the U.K. business that it is currently in the process of demerging.
  • Oakley is at present CEO of Ferguson's Canadian business and head of corporate development. Since September, he has also been project managing the Wolseley (LON:FERG) U.K. demerger process.
  • He replaces Mark Higson, who is leaving the company.
      • Educational publisher Pearson (LON:PSON) said it will sell its remaining 25% stake in publishing firm Penguin Random House to Bertelsmann for 530 million pounds ($675 million). It will return 350 million pounds of the proceeds to shareholders through a share buyback programme.

    • The company also announced CEO John Fallon would retire in 2020, once a successor has been appointed.

    • Gold miner Centamin (LON:CEY) said it continues to advise shareholders to take no action in respect of the possible takeover interest from Canadian peer Endeavour (TSX:EDV).
    • Centamin criticised Endeavour for not providing the information it needed to conduct due diligence ahead of the proposed combination.
    • Under stock exchange rules, Endeavour has until the end of the year to make a formal proposal or else end its interest. Centamin said it would review whether to seek an extension of that deadline if it receives the information it needs before then.

    Latest comments

    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.