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").
WALCOM GROUP LIMITED
(“Walcom” or “the Company”)
The Board of Walcom provides an
update on the Company’s working capital position.
Chi, Chief Executive Officer of the Company, has re-iterated
his intention to provide a loan of HK$1,230,000 to Walcom Bio-Chemicals Industrial
Limited, Walcom’s wholly owned subsidiary and now expects to be
able to do so by 18 March 2020.
As a result of the Company’s trading
and the actions it has taken to control the Company’s working
capital position, the Board now believes that, in the absence of
the loan being received in part or in full by 23 March 2020, the Company may be unable to
continue its operations and would be forced into liquidation with a
consequential diminution in value to shareholders.
Further announcements will be made
in due course.
|Walcom Group Limited
Francis Chi (Chief Executive Officer/Chief Financial Officer)
|+852 2494 0133
|Allenby Capital Limited (Nominated Adviser and
David Hart / Asha Chotai
|+44 20 3328 5656