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Guinness Nigeria Plc has 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.
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 therefore
assures 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.
It will be recalled that PharmaDeko Plc has
alleged that Guinness Nigeria is indebtedness to the company to the tune of
N175, 699, 317.99.
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