REG - UniVision Eng Ltd - Loan Agreement

UniVision EngineeringAnnouncement

12/10/2022 12:00

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RNS Number : 6696C  UniVision Engineering Ltd  12 October 2022

12 October 2022

This announcement contains inside information as stipulated under the UK
version of the Market Abuse Regulation No 596/2014 which is part of English
Law by virtue of the European (Withdrawal) Act 2018, as amended.  On
publication of this announcement via a Regulatory Information Service, this
information is considered to be in the public domain.

 

 

UniVision Engineering Limited

("UniVision", the "Company" or the "Group")

Loan Agreement

UniVision (AIM: UVEL), the Hong Kong based group whose principal activities
are the supply, design, installation and maintenance of closed-circuit
television (CCTV) and surveillance systems, and the sale of security related
products, announces that it has entered into a loan agreement with Webright
Ventures Limited ("Webright"), a company incorporated in Hong Kong, to
borrow  HKD 12 million (approximately £1.38 million) from Webright. The loan
will be unsecured, will have a period of three months, and an interest rate of
8 per cent. per annum.  Around half the loan will be used as funds set aside
 ahead of the hearing of the Winding-up petition against UniVision, which was
first announced by the Company on 4 January 2022, and is due to be heard in
Court in Hong Kong on 18 October 2022.

Further to its announcement on 29 September 2022, the Company is still working
with its auditors to complete its audit and publish its annual report, after
which trading in the Company's ordinary shares on AIM is expected to
recommence.

Further updates will be made on these matters in due course.

 

For further information visit www.uvel.com (http://www.uvel.com) or contact:

 

 UniVision Engineering Limited                                                                                            Tel: +852 2389 3256
 Stephen Koo,                                                                                                             www.uvel.com (http://www.uvel.com)
 Chairman
 Danny Kwok Fai Yip, Finance Director

 SPARK Advisory Partners                                                                                                  Tel: +44 (0)20 3368 3551
 Limited

 (Nominated
 Adviser)
 Mark Brady / Neil Baldwin                                                                                                www. (http://www.sparkadvisorypartners.com) sparkadvisorypartners.com
                                                                                                                          (http://www.sparkadvisorypartners.com)

 SI Capital Limited (Broker)

                                                                                                                          Tel:  +44 (0)1483 413500

                                                                                                                          www.sicapital.co.uk (http://www.sicapital.co.uk)

Nick Emerson

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