Admin l Friday, February 17, 2017
IKEJA, Lagos, Nigeria – Guinness Nigeria Plc has said it is not owing Pharma Deko contrary to media reports. Pharma Deko had alleged that Guinness Nigeria was indebted to it in the sum of N175, 699, 317.99.
But in a statement in Lagos, Corporate Communications Manager, Guinness, Olayinka Edmond confirmed that it has responded to a court process at the instance of Pharma Deko Plc which alleges that Guinness Nigeria is contractually indebted to Pharma Deko Plc in the sum of N175, 699, 317.99 representing an arbitral award made against the company and in favour of Pharma Deko Plc and also suggests that Guinness Nigeria is unable to pay this debt.
According to him, “Guinness Nigeria denies that it is indebted to Pharma Deko Plc in the stated amount or any amount at all and its solicitors have filed a robust defence to Pharma Deko’s claims in court”, he said.
He said the amount claimed by Pharma Deko Plc in the court process is an insignificant amount when compared with the revenue, cashflow and balance sheet of the company and that management is very confident of being able to repudiate the claims in court.
“The management of Guinness Nigeria wishes to assure its employees, customers, shareholders and other stakeholders that it is capable of meeting its financial and other obligations to its various stakeholders and that it continues to operate as a going concern”, he said.
