TIDMUVEL

RNS Number : 0712B

UniVision Engineering Ltd

07 June 2021

RNS ANNOUNCEMENT: This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.

7 June 2021

UniVision Engineering Limited

("UniVision", the "Company" or the "Group")

Update on proposed PDMR Dealing

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, further to the Company's announcement on 4 March 2021, it has been informed by its Chairman, Stephen Koo, that his non-binding Memorandum of Understanding ("MOU") with SinoCloud Group Limited, an investment holding company listed on the Catalist Board of the Singapore Stock Exchange ("SinoCloud"), to sell SinoCloud 200,959,700 of his ordinary shareholding in UniVision (representing approximately 52.4% of the issued share capital of the Company) (the "Proposed Transaction") has lapsed and his proposed sale of these shares to SinoCloud will not now proceed.

The Proposed Transaction had been subject to a number of pre-conditions. The parties have held various discussions since the signing of the MOU, but these discussions did not produce a definitive agreement within the three month exclusivity period contained in the MOU. As no definitive agreement has been entered into and there is no intention to extend the exclusivity period, the MOU has accordingly lapsed.

SinoCloud has also made a regulatory announcement to the Singapore Stock Exchange regarding the lapsing of the MOU today.

For further information visit www.uvel.com or contact :

 
 UniVision Engineering Limited           Tel: +852 2389 3256 
 Stephen Koo, Chairman                   www.uvel.com 
 Danny Kwok Fai Yip, Finance Director 
 Nicholas Lyth, Non-Executive Director   Tel: +44 (0)7769 906686 
 SPARK Advisory Partners Limited         Tel: +44 (0)20 3368 3551 
  (Nominated Adviser) 
 Mark Brady / Neil Baldwin               www. sparkadvisorypartners.com 
 
 SI Capital Limited                      Tel: +44 (0)1483 413500 
  (Broker)                                www.sicapital.co.uk 
 

Nick Emerson

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June 07, 2021 10:09 ET (14:09 GMT)

Univision Engineering (LSE:UVEL)
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