Loan Agreement

RNS Number : 6696C

UniVision Engineering Ltd

12 October 2022

 

12 October 2022

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.

UniVision Engineering Limited

("UniVision", the "Company" or the "Group")

Loan Agreement

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 entered into a loan agreement with Webright Ventures Limited ("Webright"), a company incorporated in Hong Kong, to borrow  HKD 12 million (approximately £1.38 million) from Webright. The loan will be unsecured, will have a period of three months, and an interest rate of 8 per cent. per annum.  Around half the loan will be used as funds set aside  ahead of the hearing of the Winding-up petition against UniVision, which was first announced by the Company on 4 January 2022, and is due to be heard in Court in Hong Kong on 18 October 2022.

Further to its announcement on 29 September 2022, the Company is still working with its auditors to complete its audit and publish its annual report, after which trading in the Company's ordinary shares on AIM is expected to recommence.

Further updates will be made on these matters in due course.

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

UniVision Engineering Limited	Tel: [phone]
Stephen Koo, Chairman	www.uvel.com
Danny Kwok Fai Yip, Finance Director
SPARK Advisory Partners Limited   (Nominated Adviser)	Tel: [phone]
Mark Brady / Neil Baldwin	www. sparkadvisorypartners.com
SI Capital Limited (Broker)	Tel:  [phone] www.sicapital.co.uk

Nick Emerson

 

END

 

 

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