Further Update Re Potential claim

RNS Number : 2646W

UniVision Engineering Ltd

25 April 2016

 

25 April 2016

UniVision Engineering Limited

("UniVision" or the "Company")

Further Update Re Potential claim against Mr Stephen Koo and UniVision

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 further to the announcement released on 1 April 2016 regarding the legal proceedings initiated by Nan Ning Hai Li Real Estate Development Limited ("Hai Li" or the "Plaintiff") against Mr Stephen Koo ("1^st Defendant") and UniVision ("2^nd Defendant"), Mr Koo and UniVision received the Acknowledgement of Service of Writ of Summons from the solicitor of the Plaintiff on 22 April 2016. Within 14 days after the service, counting the day of service, Mr Koo and UniVision are required to either satisfy the claim or return to the Registry of the High Court the accompanying Acknowledgment of Service stating whether to contest the proceedings or to make an admission. Mr Koo and UniVision intend to contest the proceedings.

Further details of the claim will be provided by the solicitors of the Plaintiff within 14 days from the day of service. Mr Stephen Koo and the Company will continue to review the Company's position as the case progresses.

The directors will inform shareholders of any material development in respect of this potential claim.

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

UniVision Engineering Limited                                       Tel: [phone]

Stephen Koo, Chairman                                                     www.uvel.com  

Chun Pan Wong, Chief Executive Officer

Danny Kwok Fai Yip, Finance Director

Nicholas Lyth, Non-Executive Director                                 [phone]

ZAI Corporate Finance Limited

(Nominated Adviser and Broker)                                     Tel: [phone]  

Tim Cofman / Songdi Lin                                                    www.zaicf.com          

 

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