Yahoo Finance Premarket London: NMC Hits Back at Muddy Waters
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.
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.
The company also said CEO John Fallon will retire in 2020, but will stay on until a successor has been appointed to ensure an orderly succession.
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.
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.
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