NMC Health PLC NMC, -5.28% said Monday that Abdulrahman Basaddiq has resigned as a director after the company said last week the ownership of 12.4 million shares couldn’t be accounted for with certainty by major shareholders.
The U.K.-listed, Middle East-focused private health care company said Basaddiq joined its board in February 2014 under a relationship agreement between the company and shareholders B.R. Shetty, Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Khaleefa Butti Omair Yousif Ahmed Al Muhairi.
The company said its board didn’t consider Basaddiq to be independent as a result of his being appointed at the request of principal shareholders.
“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,” Chairman Mark Tompkins said.