Guinness Nigeria Plc confirms 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.
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.
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 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
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