Director resignation - Mr Abdulrahman Basaddiq
NMC Health plc (LSE: NMC), announces that Mr Abdulrahman Basaddiq has resigned as a director of the Company with immediate effect from 16 February 2020.
Mr Basaddiq was appointed as a Non-Executive Director in February 2014 under the terms of the Relationship Agreement between the Company and Dr. B.R. Shetty, H.E. Mr Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Mr Khaleefa Butti Omair Yousif Ahmed Al Muhairi (“the Principal Shareholders”) which permitted the Principal Shareholders to appoint a number of their nominees to the Board. Mr Basaddiq was a Non-Executive Director but not considered by the Board to be independent as a result of his being appointed at the request of Principal Shareholders.
The Company has issued announcements on 10 February 2020 and 14 February 2020 setting out the details of notifications received from advisers of Dr B. R. Shetty and from advisers on behalf of H. E. Saeed Butti Al Qebaisi and Mr Khalifa Bin Butti. In his resignation letter to the Board, Mr Basaddiq confirmed that he had no knowledge of any possible transfer of ownership of shares between the Principal Shareholders in May 2017, nor in relation to some unreported pledges and/or other securitisation of shares by the Principal Shareholders which have now been notified to the Company.
Mark Tompkins, Chairman of NMC Health commented: “We would like to thank Abdulrahman Basaddiq for his significant contribution to the Board over the last six years. We appreciate the difficult situation that he feels that he has been placed in as a result of recent notifications from our Principal Shareholders, but the Board accept the reasons why he felt he needed to step down from the Board.”
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. NMC is a constituent of the FTSE 100 Index.
- NMC HEALTH PLC
- NMC HEALTH PLC