Further Update Re Potential claim

RNS Number : 0356I

UniVision Engineering Ltd

24 August 2016

 

24 August 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, announced on 25 April 2016 that legal proceedings had been 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").

UniVision now announces that Mr. Stephen Koo and UniVision have returned the accompanying Acknowledgment of Service to the Registry of the High Court stating that they will contest the proceedings. 

Mr. Stephen Koo and UniVision have received the Statement of Claim from the solicitor of the Plaintiff and are providing and verifying evidence to their legal counsel who is drafting the Defence. The Defence will be filed to the Court in early September, 2016. 

UniVision has instructed its legal counsel to seek to strike out the claim against the Company. 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]  

Dugald J.Carlean / Tim Cofman/Songdi Lin                          www.zaicf.com          

 

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