Contract win

UniVision Engineering

21/01/2021 13:41

RNS Number : 5032M

UniVision Engineering Ltd

21 January 2021

 

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For immediate release: 21 January 2021

UniVision Engineering Limited

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

Contract win 

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, is pleased to announce that the Company has signed a fifth Supplementary Agreement to its May 2017 Agreement with the MTR Corporation in Hong Kong ("MTRC")(the "Major Contract").

Supplementary Agreement No.5, which is for modifying design and installation method of CCTV cameras ("the Modification Works"), has an agreed contract value of HK$16.3m (approximately £1.53m). UniVision shall supply and install the new IP-based platform cameras and associated equipment to provide full coverage of 9-cars platforms area to achieve the functional and technical requirements by MTRC.  

This contract award follows closely behind Supplementary Agreement No.4, announced as Contract Win on 30 December 2020, which was for HK$11.2m.

As announced on 30 December 2020, the Directors now expect that work on the Major Contract, together with the five Supplementary Agreements added to date, is now unlikely to complete in full until July 2024.  

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
(Nominated Adviser)
Tel: +44 (0)20 33683551
Mark Brady / Neil Baldwin
www.sparkadvisorypartners.com
SI Capital Limited
(Broker)
Tel: +44 (0)1483 413500
www.sicapital.co.uk

 Nick Emerson

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