Minding the London Stock Exchange’s Business
Independent and Fearless Financial Journalism Funded by Readers
Even a few of our detractors have now come around
Of course it is! Muddy Waters may be laughing all the way to the bank with reference to NMC Health (NMC), but it must be kicking itself in San Francisco for having missed out on fellow good Dr Shetty outfit Finablr (FIN). The last we heard from Finablr was a week ago when the company announced that, like NMC – which has now ‘fessed up at least in part – The Company has very recently been made aware of purported arrangements between Dr BR Shetty, His Excellency Saeed Mohamed Butti Mohamed Al Qebaisi and Khaleefa Butti Omair Yousif Al Muhairi which may be relevant to their respective interests in the Company's shares. With at least 56% of the company’s shares pledged and perhaps more if similar undisclosed arrangements to the ones at NMC have been made, there is surely an urgency for the board of Finablr to get to the bottom of this.
Why would a company which claims to have had a year….of highly encouraging progress sneak out its results at approaching quarter past five in the evening – no-one-is-watching o’clock? Let us turn to the auditor’s report for AIM-listed Conroy Gold and Natural Resources (CGNR) in its Annual Report for the year to May 2019 – in particular the Going Concern section. Here we are told:
