UniVision Engineering and chairman Stephen Koo have agreed a settlement on the legal proceedings against them by Nan Ning Hai Li Real Estate Development.
UniVision announced on 25 April that proceedings had been initiated by Hai Li and on 24 August confirmed that the company and Koo would be contesting the proceedings. Koo and UniVision have today reached a settlement with the plaintiff and have received a notice of discontinuance from the plaintiff's solicitors under the rules of the High Court with no order as to costs. Koo and UniVision have instructed their legal counsel to give consent to the discontinuance of the action with no order as to costs.
At 1:28pm: (LON:UVEL) Univision Engineering Ltd share price was +0.13p at 0.58p