21 Dec 2006 09:00
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN THE UNITED STATES, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR AUSTRALIA, OR THEIR RESPECTIVE TERRITORIES OR POSSESSIONS
Walcom Group Limited
First day of trading
Walcom Group Limited ("Walcom" or "the Company"), the China based manufacturer and distributor of "clean" animal feed additives, announces the commencement of dealings in its common shares on the AIM Market of London Stock Exchange plc today, under the ticker code `WALG'.
Walcom's products are based on Cysteamine, a natural metabolite generated in animals' bodies which participates in animals' physiological `growth axis' to stimulate the animals' natural growth hormone level. The Company's feed additives improve the health of the animals, reduce mortality rates, shorten the time taken to reduce maturity, increase the protein content in animal food products, increase egg laying and reduce eggshell breakage and build resistance to disease. Walcom's feed additives are "non hormonal", "non antibiotic" and "non gene-altering".
Placing statisticsPlacing price per share 35p Number of new shares placed on behalf of the Company 4,491,735 Gross proceeds of the placing ‚£1.57 million
Estimated net proceeds of the placing available to the ‚£1.01 million Company
Market capitalisation at the placing price on admission ‚£22.72 million Number of shares in issue on admission 64,910,891
John East and Partners Limited is acting as Nominated Adviser and King & Shaxson Capital Limited is acting as Broker.
Francis Chi, Walcom Chief Executive commented:
"We have an extremely strong track record in developing "clean" animal feed additivesbacked byhighly motivatedresearch andmanagement teams.
"Our listing on AIM will raiseour international profileand will provide us with theextra working capital needed to increase our market penetration worldwide".
21 December 2006Enquiries:Walcom +852 2494 0133 Francis Chi, Chief Executive Officer Albert Wong, Chief Financial Officer John East and Partners +44 20 7628 2200 Jeffrey Coburn/Bidhi Bhoma
King & Shaxon Capital + 44 20 7426 5986 Nick Bealer Disclaimer
This announcement relating to the Company does not constitute or form part of, and should not be construed as an offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in the Company in any jurisdiction. Neither this announcement, nor any part of it nor anything contained or referred to in it, nor the fact of its distribution, should form the basis of or be relied on in any connection with or act as an inducement in relation to a decision to purchase or subscribe for or enter into any contract or make and other commitment whatsoever in relation to any such securities. This announcement does not constitute a recommendation regarding the securities of the Company.
The information contained in this announcement is not for publication or distribution to persons in the United States of America, its territories or possessions or to any US person or for the account of a US Person (within the meaning of Regulation S under the US securities Act of 1933, as amended). Neither this announcement nor any copy of it may be taken or transmitted to Australia, Canada or Japan or the Republic of South Africa or to Canadian persons or to any Securities analyst or other person in any of those jurisdictions. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian, or South African or Japanese securities law. The distribution of this Presentation in any other jurisdictions may be restricted by law and persons into whose possession this Presentation come should inform themselves about, and observe any such restrictions. The securities referred to are not being registered under the US Securities Act of 1933, as amended, or under the applicable securities laws of Canada, Australia, South Africa or Japan, and may not be offered or sold within Canada, Australia, South Africa or Japan to any national, resident or citizen of Canada, Australia, South Africa or Japan.
Forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt changes. Due to risks and uncertainties associated with the Company's business, actual results could differ materially from those projected or implied by management's forward-looking statements. These risks and uncertainties include, but are not limited to: changes and shifts in customer demand away from the Company's products to competitor products; the Company's ability to maintain and establish strategic relationships; the effects of competition; the risks inherent in the development and delivery of complex technologies; the Company's ability to attract, retain and motivate qualified personnel; the emergence of new markets for the Company's products and services; the Company's ability to compete in those markets based on timeliness and cost and market demand. In addition, new product introductions are subject to the risks and uncertainties that typically accompany development and delivery of complex products to the marketplace, including product development delays and defects. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements in this document may not occur.
WALCOM GROUP LTD