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Pin to quick picksUnivision Share News (UVEL)

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TRADING UPDATES: Amigo heads to vote; UniVision court date pushed back

Tue, 15th Mar 2022 17:18

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Amigo Holdings PLC- guarantor loans provider - Says high court grants order that schemes of arrangement can proceed to a creditor vote. "The road ahead is not easy, but we are on the right track and today's court decision is another step forward," says Chief Executive Gary Jennison. Creditors' meeting to be held in May and, if they vote for the scheme, the court sanction hearing is expected to be held later that month. Scheme is being proposed to settle claims following probes from UK regulators into mis-sold loans and the way that Amigo dealt with customer complaints. Jennison says "significant hurdles remain". Adds: "We are pleased that the court has agreed that the schemes can proceed to a creditor vote. The financial offer has been significantly improved and we will be doing everything we can to encourage creditor participation."

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Digital 9 Infrastructure PLC - London-based digital infrastructure investor - Signs new GBP300 million revolving credit facility with an international syndicate of four banks including the Royal Bank of Scotland International Ltd, DNB Ltd, Royal Bank of Canada and Banco Santander. "Triple Point Investment Management LLP, the group's investment manager, continues to identify attractive investment opportunities for the company's portfolio. The new RCF will provide the group with additional committed capital, to help finance the acquisition of further investments from its near-term pipeline. The investment manager remains focused on converting its pipeline of about GBP2 billion of potential assets," company says.

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Aptitude Software Group PLC - London-based finance transformation and automation software - Decides to further increase investment in product strategy in 2022 and 2023, though warns this is expected to "dampen short term profitability". "The board believes this accelerated strategic investment will create longer term sustainable value for the group and our shareholders," it says. Expects improving margins from 2024 and beyond. This comes alongside annual results for 2021, in which total revenue rises 3% to GBP59.3 million but pretax profit falls to GBP6.2 million from GBP8.1 million in 2020.

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Mobile Streams PLC - mobile content provider - Raises GBP1.2 million in placing priced at 0.30p per share. Funds to support company's growth and to create a new joint venture partnership with Gfinity PLC for Mobilegaming.com. "The company is working to agree the terms of the joint venture and expects to announce the conclusion of the agreement shortly," it says. Gfinity shares rise 6.2%.

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Smart Metering Systems PLC - Glasgow-based provider of end-to-end services in utility connections, smart metering and energy management - Pretax profit in 2021 slumps to GBP8.3 million from GBP195.0 million in 2020, which was attributed to a hefty gain from its I&C meter portfolio disposal the year prior. Revenue improves to GBP108.5 million from GBP103.0 million. Annual dividend upped to 27.5 pence from 25.0p. Chief Executive Tim Mortlock says: "Our contracted smart meter order pipeline remains solid and now more favourably weighted to larger, well-financed independent energy suppliers, and supported by the extension to our exclusivity agreement with Shell Energy Retail. We expect our installation rate to progressively increase throughout the coming year."

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UniVision Engineering Ltd - Hong Kong-based firm which installs closed circuit television surveillance systems - Court hearing for winding up petition adjourned until April 19, 2022. Hearing regards GBP565,280 alleged debt owed by company to sub-contractor T&P Solutions Ltd, formerly known as T&P Construction Co. Previously says: "The company intends to defend and oppose the petition. The company has separately been advised that it has a cross claim against T&P, inter alia, for breach of contract and non-performance and it intends to claim damages for the same."

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ValiRx PLC - cancer and women's health treatment developer - Says it is assessing options to acquire capabilities and infrastructure to create a "more efficient and effective" translational drug development service. Says revenue generated from providing pre-clinical development services would enable continued investment in advanced testing and analysis technology and support the progression of ValiRx in-house pipeline projects.

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Tlou Energy Ltd - power company focused on sub-Saharan Africa - Says contract for the construction of the transmission line to connect the Lesedi power project to Botswana's electricity grid has been signed. Botswana-based Zismo Engineering Pty Ltd has been engaged to construct the line, and expects to mobilise plant and equipment on site in the coming weeks.

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
16 Oct 2023 16:44

Hong Kong High Court orders UniVision Engineering to be wound up

(Alliance News) - UniVision Engineering Ltd on Monday said it has been ordered to be wound up by the High Court in Hong Kong.

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11 Oct 2023 18:10

IN BRIEF: UniVision says winding-up petition adjourned again

UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Announces that the winding up petition brought against it by one of its sub-contractors, KML Engineering Ltd, first announced on July 28, has been adjourned until October 16. The hearing had already been adjourned to September 27, and then to today, by the High Court in Hong Kong.

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2 Oct 2023 20:41

EARNINGS AND TRADING: Clean Invest reports interim loss and no revenue

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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27 Sep 2023 19:43

TRADING UPDATES: Inland Homes appoints administrators; EDX buys Hutano

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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14 Sep 2023 12:01

UniVision Engineering receives wind up petition from E-Star

(Alliance News) - UniVision Engineering Ltd on Thursday said it intends to defend itself against a wind up petition brought about by one of its subcontractors, E-Star Engineering Co.

Read more
29 Aug 2023 14:07

UniVision Engineering receives GBP1.2 million wind up petition

(Alliance News) - UniVision Engineering Ltd on Tuesday said it has received a wind up petition from a supplier for outstanding debt of HKD11.5 million, about GBP1.2 million.

Read more
28 Jul 2023 16:34

TRADING UPDATES: Jardine Matheson net assets rise, Oberon loss widens

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on xxxday and not separately reported by Alliance News:

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6 Jul 2023 14:58

IN BRIEF: UniVision Engineering unable to explain jump in share price

UniVision Engineering Ltd - Hong Kong-based company that supplies, designs, installs and maintains closed-circuit television and surveillance systems, and also sells security-related products - Says it is not aware of any material commercial or operational reason for the significant increase in its share price, other than the recent restoration of trading on AIM after the publication of its half-year report on June 19.

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19 Jun 2023 11:48

IN BRIEF: UniVision swings to loss following MTR contract termination

Univision Engineering Ltd - Hong Kong-based CCTV supplier - Says it swings to pretax loss of GBP256,000 in the six months ended 30 September 2022, from a profit of GBP142,000 in the same period the year prior. Revenue falls to GBP653,000 from GBP5.0 million the prior year. The company says this was due to the termination of its major contract with MTR Corporation Ltd, which was effective from June 20. The company says it is considering a number of financing methods to improve its liquidity following the collapse of revenue; obtaining a loan facility of HKD12 million - around GBP1.2 million - and a potential investor providing a standby unconditional facility of HK20 million. The company declares no interim dividend.

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19 May 2023 19:26

IN BRIEF: UniVision Engineering belated results show swing to loss

UniVision Engineering Ltd - Hong Kong-based CCTV supplier - Reports delayed final results for the year ended March 31, 2022. Says revenue fell by 64% to GBP3.9 million from GBP10.9 million the year prior mainly due to the expiry of several maintenance contracts and the delay of several project deliveries. Pretax loss totalled GBP10.3 million, swinging from a pretax profit of GBP563,000 before. Company is considering and negotiating a number of financing measures to improve its liquidity and financial position. After reviewing cash flow projections prepared by management, company feels it has sufficient working capital to finance its operations and meet its financial obligations over the next 12 months. Continues to negotiate with MTR Corp over termination of its contract for alleged breach of contract which company disputes. Explains the termination of the contract would represent a significant loss of future revenue and profit for the company. However, says company would be able to re-deploy resources from this contract to other projects to mitigate this reduction. Calls for meetings with MTR Corp to discuss outstanding amounts and to quantify unbilled work.

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16 Feb 2023 21:35

TRADING UPDATES: Heavitree profit soars; Riverstone net assets rise

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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13 Dec 2022 12:33

IN BRIEF: UniVision's CFO leaves board; asked to pay Synnex

UniVision Engineering Ltd - Hong Kong-based CCTV supplier - announces that Director YIP Kwok Fai, knows as Danny Yip, has resigned from the board with effect tomorrow. The company says it is looking to appoint a replacement, and in the meantime Yip will remain at the company as chief financial officer.

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18 Oct 2022 17:07

TRADING UPDATES: Chaarat enters takeover discussions with Shanta Gold

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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12 Oct 2022 14:39

TRADING UPDATES: Angus Energy exceeds monthly production targets

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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4 Oct 2022 21:56

IN BRIEF: UniVision Engineering suspended from trading on AIM

UniVision Engineering Ltd - Hong Kong-based CCTV and surveillance system company - On Monday, temporarily suspended from trading on AIM pending the publication of the company's annual audited accounts.

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