REG - UniVision Eng Ltd - Response to Winding up Petition

UniVision EngineeringAnnouncement

13/12/2022 11:15

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RNS Number : 5548J  UniVision Engineering Ltd  13 December 2022

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 (as in force in the United Kingdom pursuant to the European
Union (Withdrawal) Act 2018).  Upon the publication of this announcement via
the Regulatory Information Service, this inside information is now considered
to be in the public domain.

13 December 2022

UniVision Engineering Limited

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

 Response to 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 winding up petition ("the
Petition") that has been brought by one of its equipment suppliers for the
contract with MTR Corporation, namely, Synnex Technology International (HK)
Limited ("Synnex"), in the High Court in Hong Kong.  The Petition alleges
outstanding debts owed by the Company of HK$12,945,834 (approximately £1.358
million) to Synnex in respect of equipment supplied to the Company. Synnex has
presented the Petition for the Company to be wound up pursuant to the
provisions of the Companies (Winding Up and Miscellaneous Provisions)
Ordinance (Cap.32) in Hong Kong. The date of the Court hearing has been set
for 8 February 2023.

Negotiations remain ongoing with Synnex in order to resolve this matter.

Further announcements will be made if and when appropriate.

~ ENDS~

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

 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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