TIDMUVEL

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 GBP194,473), 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 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

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END

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(END) Dow Jones Newswires

September 14, 2023 06:26 ET (10:26 GMT)

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