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WALG Walcom Group Limited

0.2025
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Walcom Group Limited LSE:WALG London Ordinary Share VGG574851074 ORD HKD0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.2025 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Walcom Group Ltd Loan Agreements

28/11/2017 4:06pm

UK Regulatory


 
TIDMWALG 
 
28 November 2017 
 
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") 
 
                             WALCOM GROUP LIMITED 
 
                          ("Walcom" or "the Company") 
 
                                Loan Agreements 
 
Further to the trading statement released on 13 November 2017, Walcom announces 
that the Company's subsidiary, Walcom Bio-Chem (Thailand) Co. Ltd ("Walcom 
Thailand"), has entered into two agreements for the provision of two unsecured 
one-year loans of THB1 million each, amounting to THB2 million in aggregate 
(together, the "Loans"). 
 
The Loans are required as the Company has amended its inter-group trading terms 
with Walcom Thailand such that invoices for the provision of goods from the 
Company are now payable on presentation. 
 
The proceeds from the Loans are to be used by Walcom Thailand for general 
working capital purposes. 
 
The Loans are being provided by Ms Suladda Buddhinuntaopas and Ms Suwanna 
Budhinuntaopas, who are the sisters of Mr Paitoon Buddhinunta-opas, the general 
manager of Walcom Thailand and the Company's group sales director. In addition, 
both Ms Suladda Buddhinuntaopas and Ms Suwanna Budhinuntaopas are shareholders 
in Walcom Thailand, owning 12 per cent. and 18 per cent., respectively. 
 
The Loans bear interest at a rate of 12 per cent. per annum, which will be 
payable monthly in arrears. The Loans are repayable on the first anniversary of 
entry into the loan agreements. The Loans, and all applicable interest, are 
immediately repayable on certain customary events of default occurring. 
 
Ms Suladda Buddhinuntaopas and Ms Suwanna Budhinuntaopas have indicated that 
they would be supportive should Walcom Thailand require further funds. 
 
As also set out in the Company's trading statement on 13 November 2017, the 
Company has entered into a new short-term Renminbi bank loan equivalent to 
HK$2.3 million which replaced its previous loan of the same currency and 
amount, which has been used to finance the group's general working capital. 
 
The Company continues to closely monitor its working capital requirements. 
 
Further enquiries: 
 
Walcom Group Limited                          +852 2494 0133 
Francis Chi (Chief Executive Officer) 
Albert Wong (Chief Financial Officer) 
 
Allenby Capital Limited                       +44 20 3328 5656 
Virginia Bull 
 
 
 
END 
 

(END) Dow Jones Newswires

November 28, 2017 11:06 ET (16:06 GMT)

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