Evans Medical Facing a Probe by Accountants, Exchange Says; Shares Plunge

Evans Medical Plc will face a forensic audit by the Ghanaian unit of PriceWaterhouseCoopers over an exceptional item of 549.9 million naira, the Nigerian Stock Exchange said on its Web site today.

If admitted to the company’s earnings Evans would make a loss before tax of 490.8 million Naira, the exchange said. The company’s managing and finance directors have been placed on leave and the board will meet on April 15 to discuss the findings, the exchange said.

Evans fell 7 kobo, or 4.6 percent, to 1.44 naira as of 10:53 a.m. Lagos time, its first decline since March 23.

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