March 24, 2020 / 10:03 AM / 16 days ago

BRIEF-NMC Health Appoints Matthew J Wilde As Chief Restructuring Officer

March 24 (Reuters) - NMC Health PLC:

* NMC HEALTH PLC - UPDATE ON FINANCIAL POSITION

* NMC - APPOINTMENT OF CHIEF RESTRUCTURING OFFICER

* NMC - GROUP’S BILATERAL AND SYNDICATED DEBT OBLIGATIONS ARE COMPRISED OF OVER 75 DEBT FACILITIES FROM OVER 80 FINANCIAL INSTITUTIONS

* NMC - NMC ANNOUNCES APPOINTMENT OF MATTHEW J. WILDE AS COMPANY’S CHIEF RESTRUCTURING OFFICER, EFFECTIVE SUNDAY 22 MARCH 2020.

* NMC - INFORMED OF PRESENCE OF CHEQUES, WHICH MAY HAVE BEEN USED AS SECURITY FOR FINANCING ARRANGEMENTS FOR BENEFIT OF THIRD PARTIES

* NMC - PRASANTH SHENOY HAS RESIGNED AS CHIEF FINANCIAL OFFICER WITH IMMEDIATE EFFECT.

* NMC - RECEIVED ANOTHER UPDATE ON 23 MARCH 2020 ADVISING THAT GROUP’S DEBT POSITION IS CURRENTLY ESTIMATED TO BE AROUND $6.6 BILLION

* NMC - A PRELIMINARY VIEW IS THAT AMOUNT OF THESE CHEQUES TOTALS ABOUT $50 MILLION

* NMC - DEBT POSITION IS CURRENTLY ESTIMATED TO BE AROUND $6.6 BILLION, INCLUDING $360M CONVERTIBLE BOND AND $400M SUKUK

* NMC - APPOINTED A DIRECTOR OF FINANCE FROM INTERNAL RESOURCES AND PWC WILL CONTINUE TO SUPPORT FINANCE FUNCTION

* NMC - WORK ON VERIFYING OUTSTANDING DEBT OBLIGATIONS IS CONTINUING

* NMC - EXISTENCE OF THESE CHEQUES HAS ONLY RECENTLY BEEN BROUGHT TO ATTENTION OF BOARD AND URGENT INVESTIGATIONS ARE ONGOING

* NMC - FOLLOWING A PERIOD OF EXTENDED LEAVE FOR ILL HEALTH, PRASANTH SHENOY HAS RESIGNED AS CHIEF FINANCIAL OFFICER WITH IMMEDIATE EFFECT Source text for Eikon: Further company coverage:

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