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"). 
 
                                                                  22 April 2020 
 
                             WALCOM GROUP LIMITED 
                          ("Walcom" or "the Company") 
 
                  Company update and further re director loan 
 
Further to the announcement on 16 April 2020, the Board of Walcom provides an 
update on the Company's working capital position. 
 
Mr Francis Chi, Chief Executive of the Company, has still 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, again, reiterated his intention to provide the Director 
Loan but there can be no certainty as to the provision or the timing of the 
Director Loan. 
 
As previously announced, the Company was due to make a bank loan repayment on 
23 April 2020.  The Company has agreed with the provider of that loan to defer 
that loan repayment of RMB250k until 30 April 2020.  In addition, a separate 
loan repayment of RMB200k is also due on 30 April 2020. 
 
Based on Walcom's current cash flow projections, the Company will be able to 
continue operations until the date on which these loan repayments are due to be 
made.  If the Director Loan is not received prior to 30 April 2020, the Company 
will be unable to service the loan repayments and the Company would 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

April 22, 2020 07:23 ET (11:23 GMT)

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