Loan Default: Skye, FirstBank Announce Take-Over Of Evans Medical

Loan Default: Skye, FirstBank Announce Take-Over Of Evans Medical

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Post Views: 1,368 The board of Evans Medical Plc, on Friday hinted the Nigerian Stock Exchange (NSE) of the appointment of a Receiver/Manager by Skye ...

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The board of Evans Medical Plc, on Friday hinted the Nigerian Stock Exchange (NSE) of the appointment of a Receiver/Manager by Skye Bank Plc and First Bank of Nigeria Limited over a loan default.
The appointment, the company said in a statement by Mrs. Adesua Oziabor-Akintemi, on behalf of Cautious Services Ltd, its company secretary, was based on an Ex-parte order of the Federal High Court dated July 4, 2017 which grants them the right to take over the company’s assets used as collateral against facilities granted by the both banks.
“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,” the statement assured.
The company also expressed optimism that a mutually beneficial workable arrangement will be arrived at between the parties as soon as possible, thereby safeguarding its properties and assets, besides protecting shareholders’ investments.

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