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RNS Number : 4842M UniVision Engineering Ltd 14 September 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.
14 September 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, E-Star Engineering Company ("E-Star"), in
the High Court in Hong Kong; in respect of an outstanding debt owed by the
Company of HK$1,896,819 (approximately £194,473), being the Judgment Sum,
interest and costs under DCCJ 4037 of 2022 dated 24 April 2023 which remains
unpaid. E-Star 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 15 November 2023.
The Company will negotiate with E-Star 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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