Spotted this in the UK diver magazine

Divernet News, dateline 14 October 2003
Wildcat liveaboard sinks north of Sharm, leaving divers stranded in
nightclothes

14 divers had a lucky escape after one of them discovered that their
liveaboard was sinking at 2.30am and raised the alarm.

"The blokes were in shorts, the girls were in their nightdresses" Martin
Morgans from Blue Ocean Diving, the dive centre chartering the liveaboard,
told Divernet. "We were incredibly lucky to get out alive - 4 people had to
dive in and swim for the RIB as the boat sank beneath their feet."
The imminent demise of Wildcat was discovered when one of the divers, 'Big
Dave' got up in the night to go to the toilet and noticed that the stern was
unusually low in the water. He alerted a member of the crew, who took a look
at the engine room, saw it was flooded... and promptly ran away.
"Not one of the crew spoke to my guests or alerted me" commented Morgans,
who was clearly less than impressed by the standard of care shown towards
his dive group. "The dive guide went to the Captain's cabin to retrieve the
passports and then went and sat in the RIB."
Fortunately the group, all members of the dive club at Blue Ocean,
effectively rescued themselves. Two girls in the stern cabin, awoken by
shouts, had to wade through water which was knee deep and rising to escape.
The boat sank stern first in 14m at 'The Alternatives' dive site.
The divers and boat crew were left stranded in a water-logged RIB, and
managed to make their way over to a nearby fishing vessel. "We spent 2 1/2
hours shivering on the deck in our nightclothes. Three of the people who had
been forced to swim for it were becoming hypothermic by the time the search
and rescue boat arrived from Sharm" recalled Morgans.
The dive guide had managed to raise the alarm by phoning the boat's owner in
Cairo using his mobile phone. The owner had then contacted the rescue
services in Sharm.
The group arrived back in Sharm penniless, and with only the minimal clothes
they were standing up in. Fortunately one of the dive centres in Sharm came
to their rescue. "Tim Salter from Ocean College was totally brilliant, and
made sure we had enough cash to get ourselves sorted out. I can't thank him
enough," said Morgans.
The group are now trying to sort out insurance claims, but Morgans told
Divernet that they are determined to return next year for another liveaboard
trip "Using a different boat - obviously."