Paitoon Buddhinunta-opas, General Manager of Walcom Bio-Chem (Thailand) Company Limited, acquired an additional 55% stake in Walcom Bio-Chem (Thailand) Company Limited from Walcom Group Limited (AIM:WALG) for THB 16.5 million on March 20, 2019. The net proceeds from the transaction will be THB 12.1 million. Upon completion, Paitoon Buddhinunta-opas will own 95% stake and the remaining 5% stake in Walcom Bio-Chem (Thailand) will be held by minority shareholders. Following the transaction, Walcom Bio-Chem (Thailand) will no longer be a subsidiary of Walcom. The proceeds from the transaction will be used to repay certain amounts owed to Paitoon Buddhinunta-opas. The net proceeds will also be used to ease Walcom Group's working capital position in the short term and the Board expects that these net proceeds will enable Walcom Group to meet its liabilities as they fall due until the middle of June 2019. Allenby Capital Limited acted as nominated advisor for Walcom Group Limited. Paitoon Buddhinunta-opas, General Manager of Walcom Bio-Chem (Thailand) Company Limited, completed the acquisition of an additional 55% stake in Walcom Bio-Chem (Thailand) Company Limited from Walcom Group Limited (AIM:WALG) on March 20, 2019.