The information
contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 ("MAR").
31 January
2020
WALCOM GROUP LIMITED
(“Walcom” or “the Company”)
Trading Update
Further to the announcement on
13 January 2020, the Board of Walcom
provides an update on current trading and its working capital
position.
The Company is pleased to report
that it has received a number of orders during January 2020 which has enabled it to repay the
two bank loans totalling RMB 450,000
(c.HK$508,000) that were due for
repayment before the end of this month. Following repayment of
these loans, the Company currently has adequate working capital to
meet its liabilities as they fall due until mid-February 2020.
In its announcement dated
13 January 2020, the Company
indicated that Mr Chi intends to provide a loan of HK$1,230,000 to Walcom Bio-Chemicals Industrial
Limited, Walcom’s wholly owned subsidiary, by the end of
January 2020 (the “Loan Agreement”).
The Loan Agreement has not yet been entered into, but the Company
remains in discussions with Mr Chi regarding the provision of the
proposed funding. Whilst the Board remains confident that the
discussions with Mr Chi will have a successful outcome, there can
be no guarantee that the Company’s working capital position will be
stabilised.
Further announcements will be made
in due course.
Further enquiries:
Walcom Group Limited
Francis Chi (Chief Executive Officer/Chief Financial Officer)
Jessie Chan (Deputy Chief Financial Officer) |
+852 2494 0133 |
Allenby Capital Limited (Nominated Adviser and
broker)
David Hart / Asha Chotai |
+44 20 3328 5656 |