NIGERIA: SKYE BANK PLC AND FIRST BANK PLC TAKES OVER EVANS MEDICAL PLC FOR INDEBTEDNESS - CALIPHATE MEDIA

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Saturday, 21 October 2017

NIGERIA: SKYE BANK PLC AND FIRST BANK PLC TAKES OVER EVANS MEDICAL PLC FOR INDEBTEDNESS



Image result for EVANS MEDICAL
                                      24 October, 2017    

Evans Medical Plc was on Friday last week taking over by the company by its lenders, Skye Bank Plc and First Bank Plc due to a loan default. Investors and stakeholders were informed of the development through the Nigerian Stock Exchange, revealing that a receiver manager has also been appointed and the assets of the company taken.

The notice that partly read thus “Evans Medical PLC (“Evans Medical” or “the Company”) 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 the right to take over the Company’s Assets used as collateral against facilities granted to the Company by the Bankers due to loan default.”
 Image result for SKY BANKImage result for FIRST BANK

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 favorably and we are optimistic that a mutually beneficial workable arrangement will be arrived at between the banks and our Board as soon as possible in order to safeguard the Company’s properties and assets as well as protect the shareholders’ investments.

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