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

UniVision EngineeringAnnouncement

05/09/2016 13:10

RNS Number : 9719I
UniVision Engineering Ltd
05 September 2016
5 September 2016
UniVision Engineering Limited
("UniVision" or the "Company")
Update on agreement to sell shares owned by Stephen Koo 
Further to the announcement on 23 February 2016 regarding the sale of ordinary shares in the Company ("Sale and Purchase Agreement") , by Mr Stephen Koo, the Chairman of the Company, to Yi Sheng Technology Ltd ("Yi Sheng"), a company under the control of Derun Group and to Beijing Hang Tian ("Hang Tian")("the Parties"), the Company announces today that the Parties have signed a Memorandum of Understanding ("MOU") agreeing to the termination of the Sale and Purchase Agreement, with effect from today due to the issue of time frame for the share transaction. Under the MOU, all parties have agreed to terminate the Sale and Purchase Agreement that was signed on 14 Jan 2016 without any pursuit of compensation or damages.
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)20 7060 2220
Dugald J. Carlean /Tim Cofman /Songdi Lin
www.zaicf.com 



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