Walcom Group Ltd Overdraft and mortgage arrangements
14 February 2018 - 9:13PM
UK Regulatory
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 +852 2494 0133
Francis Chi (Chief Executive Officer)
Albert Wong (Chief Financial Officer)
Allenby Capital Limited +44 20 3328 5656
Virginia Bull
END
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