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').
21 February 2020
WALCOM GROUP LIMITED
('Walcom' or 'the Company')
Company Update
The Board of Walcom provides an update on the Company's 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.
Whilst the Board understands that is still Mr Francis Chi's intention to provide the loan, it has still not been received.
The Company continues to receive new customer orders which is benefitting its working capital position. In addition, the Company has negotiated an extension to the time for the payment of rent, salaries and other expenses which are currently due in the very short term such that these expenses can be partially and gradually paid over the coming weeks. As a result, the Board now believes that in the absence of the loan being received in part or in full by 6 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
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
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Walcom Group Ltd is China-based company. The Company is engaged in the research, development, commercialization, production, and marketing of animal feed additive products. The company offers feed additive products for pigs, cows, poultries, beef cattle and sheep, and aquatic animals. It offers Porcinin Plus and Porcimax for pigs; Eggronin Plus and Avianin Plus for poultries, and Aquanin Plus for aquatics animals.
WALCOM GROUP LIMITED 
