TIDMWALG 
 
The following amendments have been made to the 'Company Update' announcement 
released on 14 February 2020 at 11:09. 
 
The square brackets within the third paragraph have been removed and references 
to 'Mr Chi' have been changed to 'Mr Francis Chi'. 
 
All other details remain unchanged. 
 
The full amended text is shown below. 
 
 
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"). 
 
                                                               14 February 2020 
 
                             WALCOM GROUP LIMITED 
                          ("Walcom" or "the Company") 
 
                                Company Update 
 
The Board of Walcom provides an update on its working capital position. 
 
As previously announced, Mr Francis Chi, Chief Executive Officer of the 
Company, has indicated that he intends to provide a loan of HK$1,230,000 to 
Walcom Bio-Chemicals Industrial Limited, Walcom's wholly owned subsidiary. Mr 
Francis Chi has confirmed to the Company that it is still his intention to 
provide the loan in full, but that arranging the funding has taken longer than 
he anticipated.  It is his intention to provide the loan during the week 
commencing 17 February 2020. 
 
At present and in the absence of the loan from Mr Francis Chi, the Company 
currently has adequate working capital to meet its liabilities as they fall due 
until Friday 21 February 2020. The Company is taking what action it can to 
extend this period, including discussing more favourable trade terms with its 
customers and suppliers.  However, whilst the Company is hopeful that it will 
secure the necessary funding from Mr Francis Chi, in the event that it is 
unable to address the working capital shortfall, it is likely that the Company 
will be unable to continue its operations and may be forced into liquidation 
with a consequential diminution in value to shareholders. 
 
Further announcements will be made in due course. 
 
Further enquiries: 
 
Walcom Group Limited                                           +852 2494 0133 
Francis Chi (Chief Executive Officer/Chief Financial 
Officer) 
Jessie Chan (Deputy Chief Financial Officer) 
 
Allenby Capital Limited (Nominated Adviser and broker)       +44 20 3328 5656 
David Hart / Asha Chotai 
 
 
 
END 
 

(END) Dow Jones Newswires

February 14, 2020 07:07 ET (12:07 GMT)

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