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.

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.

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.

SOURCE: https://brandspurng.com/skye-bank-first-bank-take-over-evans-medical-assets/

Apc Change has fallen on them

Na wah o.

Mogbe! I even thought they were related to Evans the kidnapper

OK

Evans medical assets

When they were kidnapping medical assets, they did not know that karma was coming for them.

This is one of the split costs of Evans the kidnapper on Evans medicines

This definitely means more persons will loose their job in this trying time.

LUGBE:
Apc Change has fallen on them

Blame the incompetence of the management board of Evans medical and not the government.

ahh think say na the evans we know sef..

Its owner ain't got no strong political connections.

Na mismanagement be dis one jawe... Coy Wey dey supply paracetamol Wey be like water com dey default?? Na ppu don chop am finish jawe

They should find a way to resolve the problem because of the stakeholders

Guess who made them go bankrupt? G O V E R N M E N T
They'll ask for supplies and delay in payment or not even pay at all... If another person comes to power, he refuses to pay because it wasn't in his tenure that the bills were incurred...

what will the bank do with the assets? Probably sell it to the person that will covert it to hotel and night club while thousands of staff in the company lose their jobs.

i think say na awa celeb evans o.
Its all gud

ln short, Skye and First Banks 'kidnapped' Evans Medicals...

Touche..

I dnt think it related with Evan the kidnapper

kuwa:
Guess who made them go bankrupt? G O V E R N M E N T
They'll ask for supplies and delay in payment... If another person comes to power, he refuses to pay because it wasn't in his tenure that the bills were incurred...

That’s too bad

yaki84:
i think say na awa celeb evans o.

Its all gud

Me too

donjosh47:
I dnt think it related with Evan the kidnapper

Read the story my friend

donjosh47:
I dnt think it related with Evan the kidnapper

it's not...

[quote author=ignis post=61655813]what will the bank do with the assets? Probably sell it to the person that will covert it to hotel and night club while thousands of staff in the company lose their jobs.

Good question

Sometimes i wonder how mega profit making companies run into such financial mess

This is the reality of businesses in Nigeria today.you only get to hear about Evans just because they are a huge market player.SMEs which can be described as an economic bedrock in any thriving economy is in comatose and people close shop everyday.


No good roads.
No electricity
Bad business suffocating govt policies.
It has never been this low in our history. A company that has been running since 1954 ran underground overnight.Any business that weathers this era can only come out stronger.
Its a tough time my people.

Hmm! I hope it id not Evans the kidnapper that gave their brand badluck.

superhumanist:
Evans medical assets

When they were kidnapping medical assets, they did not know that karma was coming for them.

mumu...dem tell u say na evans d kidnapper?...

Eheh

pyrex23:
mumu...dem tell u say na evans d kidnapper?...

mumu....dem no dey tell jokes for your village?

for once, I thought it was Evans the kidnapper

Yameater:

Me too

any spare yam? Happy sundae

superhumanist:
Evans medical assets

When they were kidnapping medical assets, they did not know that karma was coming for them.

Lol!





Some people mumu ẹ