WALG Walcom Group Limited

 
TIDMWALG 
 
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"). 
 
                                                                  18 March 2020 
 
                             WALCOM GROUP LIMITED 
                          ("Walcom" or "the Company") 
 
                  Company update and further re director loan 
 
Further to the announcement on 12 March 2020, the Board of Walcom provides an 
update on the Company's working capital position. Regrettably, Mr Francis Chi, 
Chief Executive of the Company, has been unable to provide the proposed loan of 
HK$1,230,000 (the "Director Loan") to Walcom Bio-Chemicals Industrial Limited, 
Walcom's wholly owned subsidiary, as intended. 
 
Mr Chi has reiterated his intention to provide the Director Loan and expects to 
do so within the coming days.  In the absence of the Director Loan being 
received in part or in full by 27 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. 
 
Further enquiries: 
 
Walcom Group Limited                                           +852 2494 0133 
Francis Chi (Chief Executive Officer/Chief Financial 
Officer) 
 
 
Allenby Capital Limited (Nominated Adviser and broker)       +44 20 3328 5656 
David Hart / Asha Chotai 
 
 
 
END 
 

(END) Dow Jones Newswires

March 18, 2020 10:13 ET (14:13 GMT)

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