StockMarketWire.com - Animal feed supplier Walcom said it had agreed to sell its entire 55% interest in a Thai unit to its general manager.

The stake was sold for THB 16.5m, or around £0.4m, to Paitoon Buddhinunta-opas.

Certain amounts owed to the purchaser would will be repaid from the total, such that net proceeds would amount to THB 12.1m.

'As previously announced, Walcom's working capital position has been severely constrained due to difficult trading conditions and defaults on payments from one of its major customers,' the company said.

'The net proceeds of the disposal will be used to ease the group's working capital position in the short term and the Board expects that these net proceeds will enable the group to meet its liabilities as they fall due until the middle of June 2019.'

'The group continues to closely monitor its working capital position and continues to consider all options available to it in order to mitigate its working capital position.'




At 9:41am: [LON:WALG] Walcom Group Ltd share price was +0.13p at 0.38p



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