REG - UniVision Eng Ltd - Contract win

UniVision EngineeringAnnouncement

21/01/2021 13:45

RNS Number : 5032M
  
UniVision Engineering Ltd
  
21 January 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.
 
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 3368 3551   




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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