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NMC Health vice-chairman quits board

Reuters/Abu Dhabi
Filed on February 14, 2020 | Last updated on February 14, 2020 at 10.54 pm
nmc health, vice chairman, quit board

On Friday, NMC said that vice-chairman Khalifa Butti Omeir bin Yousef is stepping down from the board.

NMC Health is still trying to unravel details about the holdings of the company's top investors, it said on Friday after announcing that one of its controlling shareholders had resigned from the board.

The largest private healthcare provider in the UAE is listed in London on the blue-chip FTSE 100 index but has come under increasing pressure after shareholder Muddy Waters raised questions over its finances, prompting major investors to sell out, sending its share price tumbling.

On Friday, NMC said that vice-chairman Khalifa Butti Omeir bin Yousef is stepping down from the board. His resignation came after UK regulators this week said they were looking into the company after news that founder and chairman B.R. Shetty had inaccurately disclosed the size of his stake in the business.

NMC subsequently said on Friday that there had been a series of complex shareholder dealings involving Shetty, Bin Yousef and another top investor, Saeed Butti Al Qebaisi.

- Reuters


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