Skye Bank, First bank take over Evans Medical assets

Skye Bank, First bank take over Evans Medical assets

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...

Midea Showrooms And Stores In Nigeria

If you’ve been wondering where Midea showroom and stores are in Nigeria below is a list of Showrooms and...
- Advertisement -
- Advertisement -

Evans Medical Plc company asset will be taken over by its bankers; Skye Bank Plc and First Bank of Nigeria Limited, following the default of its loan.

The company management announced that it has received a court order for the company’s assets to be taken over. In a notice issued by the company, the company said it defaulted in a loan which it used its assets as collateral. The amount of loan is not stated.

“Evans Medical Plc would like to announce that the company’s bankers (Skye Bank Plc and First Bank of Nigeria Limited) have served the company with an ex-parte order of the Federal High Court dated 4th July, 2017, granting them right to take over the company’s assets used as collateral against facilities granted to the company by its bankers due to loan default,” the notice reads.

Read:  MTN Nigeria Publishes Q1-2019 Earnings ahead of its Proposed Listing

As the management called for stakeholders understanding and support during this time, it said that it has already begun discussions with the two Lenders to find a resolution to the matter in order to protect shareholders’ investments.

“The board of Evans Medical however has begun discussions with the two Lenders with a view to arriving at an amicable resolution of the matter and the discussions are progressing favourably and we are optimistic that a mutually beneficial workable arrangement will be arrived at between the banks and our Board as possible in order to safeguard the Company’s properties and assets as well as protect the shareholders’ investments.” the notice reads.

Read:  Key trends across retail channels in Africa
Read:  New All-Time High For BMW Group Deliveries In 2019 Confirms Position As World’s Leading Premium Car Company

Evans Medical Plc is one of Nigeria’s largest Pharmaceutical Manufacturing Company, It started business in Nigeria in 1954 and has since then been committed to the health of the Nation.

The company supplies drugs to government hospitals, registered private hospitals and registered pharmacy outlets as well as government parastatals.

The Company has in the past supplied medicines to World Bank Assisted Essential Drugs Projects (EDP) such as Cross Rivers State EDP, PTF, Ondo State Ministry of Health, Primary Health Care Projects and National Primary Healthcare Development Agency (NPHCDA). We also supply pharmaceuticals to NNPC, Shell, Chevron, Mobil, CBN, State House Clinic, etc. on a regular basis.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Zenith Bank FY 2019 Financial Statement: Fear the Bank’s Staff more than the Yahoo Boys

The Board of Zenith Bank PLC, on Friday, 21st February 2020 released the bank’s audited full financial statement for...

Chemical and Allied Paints Plc: Unconvincing results but fundamentals remain strong

Chemical and Allied Paints Plc (CAP Plc) recorded revenue growth for the third year running since it reported a revenue decline in 2016 (the...

Third Winner Of Konga Travel Rolls Royce Promo Emerges

Konga Travel and Tours, which was recently named Most Innovative Agency by the global airline, Virgin Atlantic, has disclosed the identity of the third...

Barcelona Could Leapfrog Real Madrid at The Top of LaLiga Santander This Weekend While The Battle Heats Up At The Bottom

Expect more twists and turns this weekend in both the title race and battle at the bottom as the 2019/20 LaLiga campaign continues to...
%d bloggers like this: