22nd Jun 2020 14:30
Walcom Group Ltd - China-focused animal feeds - Shares suspended from trading on AIM as Allenby Capital Ltd resigns as nominated advisor and broker. Must find replacement within a month or shares will be cancelled from AIM. Says Chief Executive Francis Chi has repeated his intention to provide a HKD1.2 million, about GBP128,000, loan. Says agreed changes to loan repayment plan with bank. Paid CNY50,000, about GBP5,700, on Friday and will pay six monthly payments of same amount starting in July, plus a final payment of CNY150,000. However, based on its cash flow projections, Walcom said it can continue to operate only to the end of this month and will be forced into liquidation without the loan from Chi being supplied by Tuesday next week.
Current stock price: trading suspended; 0.27 pence on Thursday last week
By Tom Waite; [email protected]
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