REG - UniVision Eng Ltd - Update on agreement to sell shares owned by S Koo <Origin Href="QuoteRef">UVEL.L</Origin>

UniVision EngineeringAnnouncement

23/02/2016 11:10

RNS Number : 8758P
UniVision Engineering Ltd
23 February 2016
23 February 2016
UniVision Engineering Limited
("UniVision" or the "Company")
Update on agreement to sell shares owned by Stephen Koo 
Following the announcement on 14 January 2016, regarding the sale of shares in Univision, of which Stephen Koo is the ultimate beneficial owner to Yi Sheng Technology Ltd ("Yi Sheng"), a company under the control of Derun Group and to Beijing Hang Tian ("Hang Tian")an affiliate of a State Owned Enterprise, the Company announces that Yi Sheng and Hang Tian have submitted a summary of the sale and purchase agreement, shareholding structure and details of the consideration due for approval in January to the National Development and Reform Commission of People's Republic of China; Ministry of Commerce of People's Republic of China; and State Administration of Foreign Exchange of People's Republic of China. Whilst the Company expects receiving approval in due course the approval has been delayed due to Chinese New Year. A further announcement will be made in due course. 
UniVision Engineering Limited
Tel: +852 2389 3256
Stephen Koo, Chairman
Chun Pan Wong, Chief Executive Officer
Danny Kwok Fai Yip, Finance Director
www.uvel.com 


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


ZAI Corporate Finance Limited 
(Nominated Adviser and Broker) 
Tel: +44 (0)2070602220
Richard Morrison /Ivy Wang /Songdi Lin
www.zaicf.com 



This information is provided by RNS
The company news service from the London Stock Exchange
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