Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksWALG.L Regulatory News (WALG)

  • There is currently no data for WALG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Company update

22 Jun 2020 08:16

Walcom Group Ltd - Company update

Walcom Group Ltd - Company update

PR Newswire

London, June 22

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 June 2020

WALCOM GROUP LIMITED(“Walcom” or “the Company”)

Company update

The Board of Walcom provides an update on the Company’s current working capital position.

Mr Francis Chi, Chief Executive of the Company, has reiterated his intention to provide the proposed loan of HK$1,230,000 (the “Director Loan”) to the Company to assist with its working capital position. There can be no certainty as to the provision or the timing of the proposed Director Loan.

Further to the announcement on 15 June 2020, the Company has made further changes to its payment plan with its bank, pursuant to which the Company made a loan repayment of RMB50,000 on 19 June 2020. As previously announced, the Company will make six repayments of RMB50,000 on a monthly basis commencing in July 2020. Under the revised payment plan, the Company will also make a final loan repayment of RMB150,000 to the bank in December 2020.

Based on Walcom’s current cash flow projections, the Company will be able to continue operations until 30 June 2020. In the absence of the Director Loan now being received in part or in full by this date, 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 Francis Chi (Chief Executive Officer/Chief Financial Officer) +852 2494 0133
Allenby Capital Limited (Nominated Adviser and Broker) David Hart / Asha Chotai+44 20 3328 5656
Date   Source Headline
30th Jun 20204:22 pmPRNBoard Change
22nd Jun 20201:21 pmRNSSuspension - Walcom Group Limited
22nd Jun 20201:16 pmPRNResignation of Nominated Adviser and Broker
22nd Jun 20208:16 amPRNCompany update
15th Jun 20207:36 amPRNTrading Update
5th Jun 20203:08 pmPRNCompany Update
2nd Jun 20204:00 pmPRNCompany update
29th May 20207:00 amPRNCompany Update
26th May 20207:32 amPRNCompany Update
15th May 20203:10 pmPRNCompany Update
11th May 202012:01 pmPRNCompany Update
30th Apr 202010:57 amPRNCompany Update
22nd Apr 202012:23 pmPRNCompany update and further re director loan
16th Apr 20201:31 pmPRNCompany update and further re director loan
9th Apr 20208:19 amPRNCompany update and further re director loan
3rd Apr 20208:27 amPRNCompany update and further re director loan
27th Mar 20208:31 amPRNCompany Update
18th Mar 20202:13 pmPRNCompany update and further re director loan
12th Mar 202010:46 amPRNCompany Update
6th Mar 20208:52 amPRNCompany Update
21st Feb 20208:48 amRNSCompany Update
14th Feb 202012:06 pmPRNReplacement: Company Update
14th Feb 202011:09 amPRNCompany Update
31st Jan 20209:55 amPRNTrading Update
13th Jan 202012:23 pmPRNFurther Director Loan
31st Dec 201910:37 amPRNCompany Update and Resignation of Deputy CFO
23rd Dec 20199:57 amPRNBoard Change
6th Dec 201911:04 amPRNCompany Update
29th Nov 201911:05 amPRNCompany Update
30th Oct 201910:23 amPRNTrading Update
26th Sep 20199:27 amPRNDirector Loan
18th Sep 201910:58 amPRNHalf-year Report
9th Sep 201911:20 amPRNCompany Update & Notice of Interim Results
14th Aug 201911:03 amPRNCompany Update
3rd Jul 201910:24 amPRNCompany update
12th Jun 20198:53 amPRNResult of AGM and update on legal proceedings
4th Jun 201912:49 pmPRNCompany update
15th May 201910:03 amPRNPosting of Annual Report and Notice of AGM
7th May 201911:15 amPRNFinal Results
20th Mar 20198:26 amPRNFurther re. disposal of Walcom Bio-Chem (Thailand)
13th Mar 20197:00 amPRNProposed Disposal of Walcom Bio-Chem (Thailand) Company
28th Feb 201910:10 amPRNDeath of Non-Executive Director
27th Feb 201911:44 amPRNTrading update
14th Dec 201811:06 amPRNBoard Change
21st Nov 201810:02 amPRNFurther re Customer Payment and Trading Update
8th Oct 20181:11 pmPRNReceipt of further customer payments
18th Sep 20181:58 pmPRNHalf-year Report
3rd Sep 201811:45 amPRNReceipt of initial customer payment
31st Jul 201811:38 amPRNFurther re Customer payment
19th Jul 201812:58 pmPRNFurther re Customer payment

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.