RNS ANNOUNCEMENT: The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
For immediate release: 22 December 2020
UniVision Engineering Limited
("UniVision", the "Company" or the "Group")
Contractual Claim
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 received notification that a claim has been brought by one of its suppliers, namely, Dimension Data China/Hong Kong Limited ("DDCHKL") in the High Court in Hong Kong alleging breach of contract by the Company and claiming damages for the same.
The Company has been advised that the claim is fully defensible and the Company intends to defend it in full. The Company has further been advised that it has a cross claim against DDCHKL, inter alia, for breach of contract and/or negligence and/or misrepresentation and it intends accordingly to claim damages for the same.
The Board is satisfied that the Company is well able to meet the claim should this be necessary but, in the light of the advice it has been given, it does not consider that the claim has any foundation.
The Company also believes that DDCHKL is in breach of protocol in the manner in which it has brought this claim and will be taking separate appropriate action in this regard.
Further announcements will be made if and when appropriate.
For further information visit www.uvel.com or contact:
| UniVision Engineering Limited | Tel: +852 2389 3256 |
| Stephen Koo, Chairman | |
| 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 | |
| | |
| SI Capital Limited (Broker) | Tel: +44 (0)1483 413500 |
Nick Emerson
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