TIDMUVEL

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 GBP209,863) 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 or contact:

 
 UniVision Engineering Limited                   Tel: +852 2389 3256 
 Stephen Koo, Executive Chairman                        www.uvel.com 
 Peter Yip Tak Chan, Chief Executive 
  Officer 
 
 
 SPARK Advisory Partners Limited            Tel: +44 (0)20 3368 3550 
  (Nominated Adviser) 
 Mark Brady / Neil Baldwin             www.sparkadvisorypartners.com 
 
 SI Capital Limited                          Tel: +44 (0)1483 413500 
  (Broker)                                       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 or visit 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.

END

RSPPPUMCMUPWGUR

(END) Dow Jones Newswires

July 28, 2023 06:48 ET (10:48 GMT)

Univision Engineering (LSE:UVEL)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Univision Engineering Charts.
Univision Engineering (LSE:UVEL)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Univision Engineering Charts.