Removal of Nomad Status

RNS Number : 3098T

UniVision Engineering Ltd

11 October 2017

 

11 October 2017

UniVision Engineering Limited

 ("UniVision" or the "Company")

 Removal of Nomad Status by the Exchange 

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 it has been informed that that the London Stock Exchange has determined to remove ZAI Corporate Finance's nomad status pursuant to Rule 11 of the AIM Rules for Nominated Advisers ("Nomad Rules") on the basis that it no longer meets the criteria in Nomad Rule 2 - bullet points 3 and 4, being that a nominated adviser must

·    have acted on at least three Relevant Transactions during that two-year period;

·    employ at least four Qualified Executives and in this regard the Exchange will take in to account the overall experience of the Qualified Executives on an individual basis and as a team.

The removal will take effect at 7am 19 October 2017. At that point the Company's shares will be suspended from trading on AIM, pursuant to AIM Rule 1.

If it has not by then appointed a replacement nominated adviser within one month of suspension (by 20 November 2017), admission of the Company's shares to trading on AIM will be cancelled.

The Company's board is in talks with potential nominated advisers and is considering all options available to it for the interest of shareholders and hopes to update the market shortly.

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

UniVision Engineering Limited	Tel: [phone]
Stephen Koo, Chairman Chun Pan Wong, Chief Executive Officer Danny Kwok Fai Yip, Finance Director	www.uvel.com
Nicholas Lyth, Non-Executive Director	[phone]
ZAI Corporate Finance Limited (Nominated Adviser and Broker)	Tel: [phone]
Tim Cofman	www.zaicf.com

 

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