NMC said on 10 March the group's debt position was materially above the last reported number at 30 June and was estimated at that date to be around
But yesterday the company's board said it had received an update on Monday advising that the group's debt position is estimated at
"Work on verifying the outstanding debt obligations is continuing," the company said in its statement.
NMC said it believes that some proceeds of the debt may have been used for non-group purposes and said it was trying to trace the proceeds "with a view to considering what actions may be available to the group to recover such monies".
NMC was plunged into chaos in December after a blistering attack by shortseller
Last month NMC said it was suspending its shares and City watchdog the
(c) 2020 City A.M., source