UniVision Engineering Ltd Update on proposed PDMR Dealing (0712B)
08 June 2021 - 12:09AM
UK Regulatory
TIDMUVEL
RNS Number : 0712B
UniVision Engineering Ltd
07 June 2021
RNS ANNOUNCEMENT: This announcement contains inside information
as stipulated under the UK version of the Market Abuse Regulation
No 596/2014 which is part of English Law by virtue of the European
(Withdrawal) Act 2018, as amended. On publication of this
announcement via a Regulatory Information Service, this information
is considered to be in the public domain.
7 June 2021
UniVision Engineering Limited
("UniVision", the "Company" or the "Group")
Update on proposed PDMR Dealing
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, further to the
Company's announcement on 4 March 2021, it has been informed by its
Chairman, Stephen Koo, that his non-binding Memorandum of
Understanding ("MOU") with SinoCloud Group Limited, an investment
holding company listed on the Catalist Board of the Singapore Stock
Exchange ("SinoCloud"), to sell SinoCloud 200,959,700 of his
ordinary shareholding in UniVision (representing approximately
52.4% of the issued share capital of the Company) (the "Proposed
Transaction") has lapsed and his proposed sale of these shares to
SinoCloud will not now proceed.
The Proposed Transaction had been subject to a number of
pre-conditions. The parties have held various discussions since the
signing of the MOU, but these discussions did not produce a
definitive agreement within the three month exclusivity period
contained in the MOU. As no definitive agreement has been entered
into and there is no intention to extend the exclusivity period,
the MOU has accordingly lapsed.
SinoCloud has also made a regulatory announcement to the
Singapore Stock Exchange regarding the lapsing of the MOU
today.
For further information visit www.uvel.com or contact :
UniVision Engineering Limited Tel: +852 2389 3256
Stephen Koo, Chairman www.uvel.com
Danny Kwok Fai Yip, Finance Director
Nicholas Lyth, Non-Executive Director Tel: +44 (0)7769 906686
SPARK Advisory Partners Limited Tel: +44 (0)20 3368 3551
(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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