UniVision Engineering Ltd Response to Winding up Petition (5548J)

TIDMUVEL

RNS Number : 5548J

UniVision Engineering Ltd

13 December 2022

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 (as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

13 December 2022

UniVision Engineering Limited

("UniVision", 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 (CCTV) and surveillance systems, and the sale of security related products, 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.

ENDS

For further information visit www.uvel.com or contact :

 
 UniVision Engineering Limited     Tel: [phone] 
 Stephen Koo, Chairman             www.uvel.com 
 
 SPARK Advisory Partners Limited   Tel: [phone] 
  (Nominated Adviser) 
 Mark Brady / Neil Baldwin         www. sparkadvisorypartners.com 
 
 SI Capital Limited (Broker)       Tel: [phone] 
                                    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 [e-mail] 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

RSPGPGBUPUPPGGW

(END) Dow Jones Newswires

December 13, 2022 06:11 ET (11:11 GMT)