UniVision Engineering Ltd Director Share Transfer (1851J)
September 07 2016 - 4:37AM
UK Regulatory
TIDMUVEL
RNS Number : 1851J
UniVision Engineering Ltd
07 September 2016
7 September 2016
UniVision Engineering Limited
("UniVision" or the "Company")
Director Share Transfer
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 Hai Li on 6 September 2016, agreeing to
sell a further 10 per cent of his holdings 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
DSHLRMPTMBJMMTF
(END) Dow Jones Newswires
September 07, 2016 04:37 ET (08:37 GMT)
Univision Engineering (LSE:UVEL)
Historical Stock Chart
From May 2024 to Jun 2024
Univision Engineering (LSE:UVEL)
Historical Stock Chart
From Jun 2023 to Jun 2024