Walcom Group Ltd Overdraft and mortgage arrangements

 
TIDMWALG 
 
14 February 2018 
 
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") 
 
                      Overdraft and mortgage arrangements 
 
Further to the trading statement released on 13 November 2017 and entry into 
the Loan Agreements announced on 28 November 2017, Walcom announces that the 
Company's subsidiary, Walcom Bio-Chem (Thailand) Co. Ltd ("Walcom Thailand"), 
has negotiated and agreed a new bank financing, in the form of an overdraft 
facility, of up to THB4.6 million ("the Overdraft"). The Overdraft is secured 
by way of a mortgage on the freehold title deed (Chanote Nor Sor 4) for Walcom 
Thailand's office in Bangkok. 
 
The Overdraft has been provided by Kasikorn Bank of Thailand ("the Bank"), is 
for a term of five years and bears interest at Bank of Thailand Benchmark 
Interest Rate. Mr Paitoon Buddhinunta-opas, the general manager of Walcom 
Thailand and the Company's group sales director, has provided a personal 
guarantee to the Bank for the Overdraft. 
 
The Overdraft will be used by Walcom Thailand for general working capital 
purposes. 
 
In addition, the Company has negotiated and agreed a new secured three-year RMB 
2 million revolving credit facility via its wholly owned subsidiary Shanghai 
Walcom Bio-Chem Co., Ltd. The funds will be used to finance the Group's general 
working capital. 
 
Further enquiries: 
 
Walcom Group Limited                          [phone] 
Francis Chi (Chief Executive Officer) 
Albert Wong (Chief Financial Officer) 
 
Allenby Capital Limited                       [phone] 
Virginia Bull 
 
 
 
END 
 

(END) Dow Jones Newswires

February 14, 2018 05:13 ET (10:13 GMT)