REG - UniVision Eng Ltd - Response re Winding up petition

UniVision EngineeringAnnouncement

04/01/2022 10:10

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RNS Number : 3514X  UniVision Engineering Ltd  04 January 2022

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For immediate release: 4 January 2022

UniVision Engineering Limited

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

 Response re Winding up petition

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 received a petition that has been brought by
one of its sub-contractors, namely, T&P Solutions Limited ("T&P"),
formerly known as T&P Construction Company Limited, in the High Court in
Hong Kong; alleging outstanding debts owed by the Company of HK$5,955,760
(approximately £565,280) in relation to contractual agreements between the
Company and T&P. T&P has presented the petition ("the Petition") for
the Company to be wound up pursuant to Section 117(1)(d) of the Companies
(Winding Up and Miscellaneous Provisions) Ordinance (Cap.32) in Hong Kong. The
date of the Court hearing has been set for 2 March 2022.

The Company intends to defend and oppose the Petition. The Company has
separately been advised that it has a cross claim against T&P, inter
alia, for breach of contract and non-performance and it intends to claim
damages for the same.

The Board is satisfied that the Company is prepared to meet the Petition
should this be necessary.

The Company also believes that T&P is in breach of contractual agreements
in the manner in which it has brought this petition and will be taking
separate appropriate action in this regard.

Further announcements will be made if and when appropriate.

 

 

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
 Nicholas Lyth, Non-Executive Director                                                                                    Tel: +44 (0)7769 906686

 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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