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NMC Health PLC said Monday that a legal review is being undertaken to verify the total interests of some of its shareholders over concerns they have been incorrectly reported.
The private health-care company NMC, +10.40% said Bavaguthu Raghuram Shetty, its joint nonexecutive chairman and founder, and his advisers are carrying out a legal review in order to verify his total interests, and that it will also cover his associated family members and his associated family holding companies.
It added that this review has implications for the holdings and interests of Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Khaleefa Butti Omair Yousif Ahmed Al Muhairi.
The company said that the review suggests that the holdings and interests have been incorrectly reported historically to the company and the market.
The board said it has asked the people in question to refrain from further board discussions until clarification of these matters and pending a board decision about their ongoing roles as directors of the company.
