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NMC Health shows the dangers of watering down listing standards

Brooke Masters

The announcement from NMC Health was the kind of thing that gives corporate governance experts nightmares. The FTSE 100 company disclosed on Monday that it had asked its founder, BR Shetty, and another of its top three shareholders to step back from the board after learning that the size of their stakes, and that of a third big investor, had been “incorrectly reported”. Mr Shetty was previously described as holding a 15 per cent stake.