UniVision Engineering Ltd Response re Winding up petition (3514X)
04 January 2022 - 9:05PM
UK Regulatory
TIDMUVEL
RNS Number : 3514X
UniVision Engineering Ltd
04 January 2022
RNS ANNOUNCEMENT:
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.
For immediate release: 4 January 2022
UniVision Engineering Limited
("UniVision", the "Company" or the "Group")
Response re 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
petition that has been brought by one of its sub-contractors,
namely, T&P Solutions Limited ("T&P"), formerly known as
T&P Construction Company Limited, in the High Court in Hong
Kong; alleging outstanding debts owed by the Company of
HK$5,955,760 (approximately GBP565,280) in relation to contractual
agreements between the Company and T&P. T&P has presented
the petition ("the Petition") for the Company to be wound up
pursuant to Section 117(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 2 March 2022.
The Company intends to defend and oppose the Petition. The
Company has separately been advised that it has a cross claim
against T&P, inter alia, for breach of contract and
non-performance and it intends to claim damages for the same.
The Board is satisfied that the Company is prepared to meet the
Petition should this be necessary.
The Company also believes that T&P is in breach of
contractual agreements in the manner in which it has brought this
petition and will be taking separate appropriate action in this
regard.
Further announcements will be made if and when appropriate.
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 (Broker) Tel: +44 (0)1483 413500
www.sicapital.co.uk
Nick Emerson
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