For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230728:nRSb5832Ha&default-theme=true
RNS Number : 5832H UniVision Engineering Ltd 28 July 2023
Certain information contained within this Announcement is deemed by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon
publication of this Announcement, this information is now considered to be in
the public domain.
28 July 2023
UniVision Engineering Limited
("UniVision" or 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 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, KML Engineering Limited ("KML"), in the
High Court in Hong Kong; in respect of outstanding debts owed by the Company
of HK$2,096,531 (approximately £209,863) in relation to contractual
agreements between the Company and KML. KML has presented the petition ("the
Petition") for the Company to be wound up pursuant to Section 177(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 27 September 2023.
The Company continues to negotiate with KML and intends to defend and oppose
the Petition.
As previously announced, the Board remains in negotiations with potential
investors who are looking to make a substantial investment in the Company and
it is satisfied that the Company will be able to meet the Petition should this
be necessary.
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, Executive www.uvel.com (http://www.uvel.com)
Chairman
Peter Yip Tak Chan, Chief Executive Officer
SPARK Advisory Partners Tel: +44 (0)20 3368 3550
Limited
(Nominated Adviser)
Mark Brady / Neil Baldwin www.sparkadvisorypartners.com (http://www.sparkadvisorypartners.com)
SI Capital Limited Tel: +44 (0)1483 413500
(Broker) www.sicapital.co.uk (http://www.sicapital.co.uk)
Nick Emerson
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END RSPPPUMCMUPWGUR