Evans Medical Plc has in response to The Exchange’s inquiry reported that its 2008 Annual Reports & Accounts could not be submitted as at when due because of an “Exceptional Item” amounting to N549,886,000.00 that is now the subject of forensic investigation by Pricewaterhouse Coopers, Ghana. An admission of the Exceptional Item would result in a loss before tax of N490,769,000.00 by the Company and a loss before tax of N387,824,000.00 by the Group.

Following the initiation of the forensic audit, the Group Managing Director, Dr. Kiran Virat, and the Finance Director, Alhaji J. B. Alli-Oluwafuyi, were directed by the Board to proceed on leave until after the submission of the final report by the Forensic Auditors and a final decision is taken on the matter.

The Exchange today met with the Board of the company and was informed that the directors will meet on 15th April, 2010 to consider the final report of the forensic auditors.

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