Univision Engineering Share Discussion Threads

[zangdook] 16/12/2022 12:53

There are 16 Leader Smarts in all, but ours is definitely the one because it's the only Virgin Islands company among them. AND IT HAS NOT BEEN DISSOLVED.

search here

[zangdook] 16/12/2022 12:44

Looks to me like HL have made a balls-up.

Here's a company called Leader Smart Holding which was dissolved on the date they say in Jan 2018


And here's our company, Leader Smart Holdings which is still active


pretty careless if you ask me

[knigel] 14/12/2022 16:26

Interims due at the end of the month so perhaps we will have a better idea if this company has a future or not then… !!

[finkwot] 14/12/2022 08:26

You can't just steal a client's shares because "someone told us they were worthless". If the company has been wound up and, as they claim, the shares cancelled, there will be documentary evidence of this.

[noirua] 13/12/2022 11:43

I'm not sure what negotiations can be ongoing concerning the supply of equipment and payment. Synnex appears to have an outstanding record.

Univision has not announced any new contracts so work must be running down. On the other hand, UVEL has had an excellence award quite recently so it is right for people to be puzzled as to what is going on.

[zangdook] 13/12/2022 11:35

The other RNS is worrying, especially in the context of the CFO jumping ship. The response is less confident than to the earlier petition which was eventually dismissed.

[noirua] 13/12/2022 11:27

RNS - UniVision announces that it has received a winding up petition ("the Petition") that has been brought by one of its equipment suppliers for the contract with MTR Corporation, namely, Synnex Technology International (HK) Limited ("Synnex"), in the High Court in Hong Kong.

The Petition alleges outstanding debts owed by the Company of HK$12,945,834 (approximately GBP1.358 million) to Synnex in respect of equipment supplied to the Company.

Synnex has presented the Petition for the Company to be wound up pursuant to the provisions of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap.32) in Hong Kong. The date of the Court hearing has been set for 8 February 2023.

Negotiations remain ongoing with Synnex in order to resolve this matter.

Further announcements will be made if and when appropriate.

---

Synnex Hong Kong -

[noirua] 13/12/2022 11:20

The latest resignation is either a necessary reduction in directors and staff to reduce costs or the departure from the ship going into increasingly choppy waters. Reducing ballast.

[noirua] 10/12/2022 18:43

That's the notification from Hargreaves Lansdown. Nothing from ii so far.
It does seem very strange and I know there are other companies that have used the same name. Only the Chairman of Univision Stephen Sin Mo Koo really knows what the position is. As he is so busy with Univision I doubt he is that interested at the moment.

It is very difficult to find information about an unquoted company at the best of times and even more so in Hong Kong. The 100% owned subsidiary Leader Smart Engineering (Shanghai) Limited is even more difficult as my knowledge of Mandarin is zero save Google Translate which isn't very good.

[zangdook] 09/12/2022 22:13

I don't know, but we're entitled to more information than that.

[noirua] 09/12/2022 16:59

HL - What has happened?

We have been notified that Leader Smart Holdings Limited stock has been declared worthless from 26 January 2018.

Following this, the company’s shares have now been cancelled and no returns will be made to shareholders. The shares have been removed from your account and will no longer show on your SIPP Income Drawdown valuation.

Other information & warnings

If you hold these shares outside of a SIPP or ISA this may affect your tax position. Please contact your local tax office, or your financial advisor, for more information.

This letter is for your information only. If you have any further queries regarding this matter, please do not hesitate to contact us.

Yours sincerely

Mya-Leigh Sim-Jones

Corporate Actions

[noirua] 23/11/2022 13:14

29 September 2022: As a result of not being able to publish its Annual Report and Accounts by 30 September 2022 in accordance with AIM Rule 19, trading in the Company's ordinary shares on AIM will be suspended from 7.30 am on Monday 3 October 2022.

The Company aims to complete its audit and publish its annual report within a matter of weeks of this announcement, post which trading in the Company's ordinary shares is expected to recommence.

Further updates will be made in due course.

[noirua] 23/11/2022 13:05

Director Ivor Shrago has left the company the second to do so. Looks like the correct strategy in the current circumstances as the company rebuilds itself and to a degree reinvents itself.

[noirua] 07/11/2022 13:27

The Annual accounts are now 38 days overdue. The accounts themselves do not really appear to be a problem. What's a problem is that anyone reading the accounts only could be misled due to events following March 31 instant.

The recent court event appears not to have been finalised to include costs. Also the present position of ongoing and possible future contracts.

[zangdook] 18/10/2022 13:06

IIRC Univision were counter-suing. I don't think we have a date for that.

[noirua] 18/10/2022 12:47

That winding-up petition was unsuccessful so it at the very least gets one overhanging matter out of the way. Welldone UniVision.

[noirua] 18/10/2022 12:42

RNS - UniVision (AIM: UVEL), the Hong Kong based group whose principal activities are the supply, design, installation, and maintenance of closed-circuit television (CCTV) and surveillance systems, and the sale of security related products, announces that the Winding up petition brought against it by one of its sub-contractors, namely, T&P Solutions Limited, formerly known as T&P Construction Company Limited, which was first announced on 4 January 2022, has been dismissed by the High Court in Hong Kong today. Costs have been awarded to UniVision on an indemnity basis.[It generally means that the receiving party is likely to obtain an order for a higher percentage of their costs claim on assessment than would be the case if costs were assessed on the standard basis.]


The formal Court Order will be published in due course and a further announcement, if appropriate, will be made at that time.

[noirua] 12/10/2022 11:53

UniVision (AIM: UVEL), the Hong Kong based group announces that it has entered into a loan agreement with Webright Ventures Limited ("Webright"), a company incorporated in Hong Kong, to borrow HKD 12 million (approximately GBP1.38 million) from Webright. The loan will be unsecured, will have a period of three months, and an interest rate of 8 per cent. per annum. Around half the loan will be used as funds set aside ahead of the hearing of the Winding-up petition against UniVision, which was first announced by the Company on 4 January 2022, and is due to be heard in Court in Hong Kong on 18 October 2022.

Further to its announcement on 29 September 2022, the Company is still working with its auditors to complete its audit and publish its annual report, after which trading in the Company's ordinary shares on AIM is expected to recommence.

[noirua] 29/9/2022 13:36

There is an outside chance that UniVision could reverse into mainland China via a newly set up subsidiary or become a subsidiary in itself to China Railway Engineering (Hong Kong) Limited and China Railway Wuhan Electrification Engineering Group Limited.

[noirua] 29/9/2022 12:20

The market cap is just GB£1.15m or HK$9.83m at 0.3p a share - at the bid price of 0.2p just £766k or HK$6.553m.

The danger is that the shares do not return to quotation on AIM as UniVision expects at this point. That would only be due to failure to reach an agreement with 'potential investors' or a conclusion that it appears unlikely.

It does look as if a potential investor would be a company that could in itself offer the increased potential to UniVision and an advantage to itself likewise. The ideal situation. Otherwise, UniVision will find it difficult to take on new contracts.

Buying say 300 million shares on the market would cost way more than 0.4p a share the present offer price. So I doubt anyone will make the slightest attempt to do this. So any agreement is likely to be difficult.

Monday 3 October leaves just to the close on Friday for investors to make a decision on which way to go on this. If there is a lot of selling then 0.2p will not stand for long - on the other hand, many may prefer to gamble on this.

[zangdook] 29/9/2022 11:58

It's unusual to announce a suspension in advance of it happening. I don't think I've ever seen that before. It gives a chance to dump or stock up.
I don't plan to do either, though the MMs will take large quantities at the current price, 0.204p.
I wish I had a strong enough opinion on where this is going to act one way or the other, but I haven't a clue.

Provided it doesn't collapse, I consider the company greatly undervalued despite everything.

[noirua] 29/9/2022 11:39

Publication of Annual Report and Accounts delayed

UniVision (AIM: UVEL), announces that it needs more time to complete its audit and will have to delay the announcement of its results for the year ended 31 March 2022 and the publication of its Annual Report and Accounts for the same period.

The Company, together with its auditors, need further time to assess the effects of the termination of its long-term major contract with MTR Corporation Ltd, which was announced by the Company in June 2022, together with the up-to-date position with regard to previously announced legal disputes including the winding-up petition and counter claims first announced on 4 January 2022, and now due to be heard by the court on 18 October 2022.

Whilst the termination of the MTRC contract occurred after the year-end, the certification of work completed, invoicing, and approval for work completed prior to the year-end, which would normally take some months to finalise in the normal course of events, is taking longer given the termination of the contract and the need for both parties to agree on a final position. Whilst there is currently no agreed position, the Directors believe that the results of this review may result in significant provisions affecting both revenue and contract debtors.

In addition, the Company announces that it is in negotiations with potential investors who are looking to make a substantial investment in the Company. Whilst these negotiations are advanced, the terms of any investment are not yet agreed and so there is no guarantee that the investment will proceed. Further announcements on this matter will be made as appropriate.

As a result of not being able to publish its Annual Report and Accounts by 30 September 2022 in accordance with AIM Rule 19, trading in the Company's ordinary shares on AIM will be suspended from 7.30 am on Monday 3 October 2022.

The Company aims to complete its audit and publish its annual report within a matter of weeks of this announcement, post which trading in the Company's ordinary shares is expected to recommence.

Further updates will be made in due course.

[noirua] 26/9/2022 09:32

UNIVISION ENGINEERING SHARES ARE REALLY LOW-PRICED, though the up-and-coming court case on 18 October is a big factor as is losing the railway contract! The fall of the pound sterling against the Hong Kong dollar is 24% since its high in June 2021. As pointed out by Zangdook the Final Results are usually in early September. This year later than usual.


GB£ v HK$