Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksUnivision Regulatory News (UVEL)

  • This share is currently suspended. It was suspended at a price of 0.15

Share Price Information for Univision (UVEL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.15
Bid: 0.00
Ask: 0.00
Change: 0.00 (0.00%)
Spread: 0.00 (0.00%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 0.15
UVEL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Loan Agreement

12 Mar 2019 11:35

RNS Number : 6180S
UniVision Engineering Ltd
12 March 2019
 

RNS ANNOUNCEMENT: The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

 

For immediate release: 12 March 2019

 

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 UniVision Holdings Limited to borrow HKD 3 million ("Loan Agreement").

Background

In the Chairman's Statement contained within the 2018 Annual Report (and in the last Interim Results, released on 7 December 2018), the Company commented that, as a result of the significant increase in work from the MTRC contract, the Group had been temporarily suspended from tendering for additional new government contracts by the Hong Kong Government Works Branch under the management of Electrical and Mechanical Services Department ("EMSD"). As we have announced previously, the effect of this temporary suspension has been insignificant, given the Group's current workload, with MTRC in particular.

However, the effect of entering into this Loan Agreement is to provide sufficient asset backing for the Group, to allow EMSD to lift this temporary suspension and allow the Group, once again, to be able to tender for new government contracts offered by the Hong Kong Government Works Branch.

For the avoidance of doubt, this temporary suspension did not relate to any work that the Group continues to undertake on the replacement works of the Closed-Circuit Television (CCTV) systems for numerous railway lines of MTRC in Hong Kong. 

Terms of the Loan Agreement

The Company has entered into an HKD 3 million, interest free, loan with UniVision Holdings Limited. UniVision Holdings Limited owns 47.9% of the issued share capital of the Company and is wholly owned by Stephen Koo. Including a previous loan of HKD1.2 million, made in year 2017, the total amount owed to UniVision Holding Limited is now HKD 4.2 million. It is a condition of EMSD that the HKD 3 million loan announced today may not be reduced or repaid to the lender without EMSD's prior permission.

 

Stephen Koo, Executive Chairman, commented:

 

"I am delighted that this loan to the Company has enabled it to resume tendering for new work from the Hong Kong Government Works Branch as it has been able to do in the past."

 

 

 

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

Tel: +44 (0)7769 906686

SPARK Advisory Partners Limited

(Nominated Adviser)

Tel: +44 (0)20 3368 3551

Mark Brady / Neil Baldwin

www.sparkadvisorypartners.com

SI Capital Limited

(Broker)

Nick Emerson

 

Tel: +44 (0)1483 413500

www.sicapital.co.uk

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
AGRCKBDNDBKDBND
Date   Source Headline
16th Oct 202311:04 amRNSFurther re Winding up Petition - Petition Granted
11th Oct 20239:52 amRNSFurther re Winding up petition - Hearing adjourned
2nd Oct 20237:30 amRNSSuspension - Univision Engineering Limited
27th Sep 202311:53 amRNSPublication of Annual Report and Accounts delayed
27th Sep 20237:47 amRNSFurther re Winding up petition – Hearing adjourned
14th Sep 202311:26 amRNSResponse to Winding up Petition
29th Aug 202310:26 amRNSResponse to Winding up Petition
28th Jul 202311:48 amRNSResponse to Winding up Petition
6th Jul 20232:36 pmRNSResponse to Share Price Movement
19th Jun 20238:09 amRNSLifting of Suspension in trading
19th Jun 20237:53 amRNSRestoration - Univision Engineering Limited
19th Jun 20237:00 amRNSInterim Results - Six Months Ended 30 Sept 2022
9th Jun 20234:21 pmRNSResult of AGM
19th May 20235:42 pmRNSFinal Results for the year ended 31 March 2022
16th Feb 20232:34 pmRNSWinding up petition dismissed
13th Dec 202211:12 amRNSDirectorate change
13th Dec 202211:11 amRNSResponse to Winding up Petition
23rd Nov 202212:20 pmRNSDirectorate Change
18th Oct 202212:25 pmRNSWinding up petition dismissed
12th Oct 202211:50 amRNSLoan Agreement
3rd Oct 20227:30 amRNSSuspension - Univision Engineering Limited
29th Sep 202211:16 amRNSPublication of Annual Report and Accounts Delayed
29th Jul 20221:34 pmRNSDirectorate Change
17th Jun 202211:43 amRNSNotice of Contract Termination
11th May 20221:27 pmRNSFurther re: Response to Winding up petition
19th Apr 202211:20 amRNSFurther re: Response to Winding up petition
15th Mar 20222:46 pmRNSFurther re: Response to Winding up petition
4th Jan 202210:06 amRNSResponse re Winding up petition
30th Dec 20217:20 amRNSInterim Results for the 6m ended 30 Sept 2021
20th Dec 20214:24 pmRNSDirectorate Change
30th Sep 20212:06 pmRNSResult of AGM
18th Jun 202111:26 amRNSUniVision wins invention award
10th Jun 202112:06 pmRNSDirectorate Change
7th Jun 20213:09 pmRNSUpdate on proposed PDMR Dealing
4th Mar 20212:49 pmRNSReplacement: Proposed PDMR Dealing
3rd Mar 20211:32 pmRNSProposed PDMR Dealing
21st Jan 20211:41 pmRNSContract win
30th Dec 202012:34 pmRNSContract win
29th Dec 20207:00 amRNSInterim Results - 6 months ended 30 September 2020
22nd Dec 20203:09 pmRNSContractual Claim
30th Sep 202011:30 amRNSResult of AGM
7th Sep 20207:00 amRNSFinal Results for the year ended 31 March 2020
1st Sep 202011:23 amRNSContract Win
3rd Jul 20201:36 pmRNSTrading Update
23rd Jun 20202:56 pmRNSDirectorate Changes
17th Jan 20209:35 amRNSCooperation Framework Agreement
27th Dec 20199:30 amRNSInterim Results
13th Nov 201910:25 amRNSUniVision appoints major sub-contractor
6th Nov 20199:10 amRNSDirectorate changes
17th Oct 20192:04 pmRNSDirectorate Change

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.