UniVision Engineering Ltd Director Share Transfer - Correction (3403J)
September 08 2016 - 8:10AM
UK Regulatory
TIDMUVEL
RNS Number : 3403J
UniVision Engineering Ltd
08 September 2016
8 September 2016
UniVision Engineering Limited
("UniVision" or the "Company")
Director Share Transfer - Correction
The Company would like to correct the following inaccuracies in
the third paragraph of the announcement released at 9:37am on 7
September 2016 under RNS Number: 1851J: Stephen Koo entered into
another Sale and Purchase Agreement with Mr Xin Hai, the legal
representative of Hai Li, not Hai Li itself as previously stated.
Furthermore, the amount of shares should have referred to 10 per
cent in UniVision and not 10 per cent of Stephen Koo's holdings in
UniVision as previously stated. The full text of the amended
statement is set out below:
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 Stephen Koo, Chairman of
UniVision, has signed a Memorandum of Understanding ("MOU") with
Nan Ning Hai Li Real Estate Development Limited ("Hai Li") on 6
September 2016 agreeing to reinstate the Sale and Purchase
Agreement that was signed on 14 December 2015 but expired on 14
January 2016.
Under the MOU, Stephen Koo has agreed to sell UniVision Ordinary
Shares ("Ordinary Shares") equating to 41 per cent of UniVision for
32.8m RMB to Hai Li. It is intended that the consideration will be
fully paid by Hai Li within 12 months from the MOU having been
signed.
In addition, Stephen Koo has entered into another Sale and
Purchase Agreement with Mr Xin Hai, the legal representative of Hai
Li, on 6 September 2016, agreeing to sell a further 10 per cent
shareholding in UniVision for 8m RMB. The payment will be completed
within 12 months after the agreement has been signed.
Any share transfer referred to above, will be subject to
compliance with the Hong Kong Code on Takeover and Mergers.
Subsequent to the settlement of the above mentioned
transactions, Stephen Koo will hold 84,028,266 Ordinary Shares
which equates to 21.9% of the total issued shares capital of the
Company.
For further information visit www.uvel.com or contact:
UniVision Engineering Limited Tel: +852 2389
3256
Stephen Koo, Chairman www.uvel.com
Chun Pan Wong, Chief Executive
Officer
Danny Kwok Fai Yip, Finance
Director
Nicholas Lyth, Non-Executive
Director +44 (0)7769 906686
ZAI Corporate Finance Limited Tel: +44 (0)20
(Nominated Adviser and Broker) 7060 2220
Dugald J. Carlean /Tim Cofman www.zaicf.com
/Songdi Lin
This information is provided by RNS
The company news service from the London Stock Exchange
END
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