REG - UniVision Eng Ltd - Response to Winding up Petition

UniVision EngineeringAnnouncement

29/08/2023 10:30

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RNS Number : 6567K  UniVision Engineering Ltd  29 August 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.

 

29 August 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 suppliers, namely, Synnex Technology International (HK) Limited
("Synnex"), in the High Court in Hong Kong; in respect of outstanding debts
owed by the Company of HK$11,455,983 (approximately £1.158 million) in
relation to payments under a deed of settlement entered into between the
Company and Synnex on 30 January 2023. Synnex 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 10 October 2023.

 

The Company continues to negotiate with Synnex 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. (http://www.sparkadvisorypartners.com) 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

 

 

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