REG - UniVision Eng Ltd - Director/PDMR Shareholding <Origin Href="QuoteRef">UVEL.L</Origin>

UniVision EngineeringAnnouncement

14/12/2015 16:11

RNS Number : 0059J
UniVision Engineering Ltd
14 December 2015
 14 December, 2015
UniVision Engineering Limited
("UniVision" or the "Company")
Agreement to sell shares 
UniVision(AIM; UVEL), the Hong Kong basedgroup 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, today signed a sale and purchase agreement with NanNing Hai Li Real Estate Development Limited ("Hai Li"), a PRC real estate developer, to sell 41 per cent. of UniVision for 32.8m RMB (approx 3.34m). 
It is intended that the transfer will be completed within one month from the date of the agreement and will proceed in two equal stages. Any transfer will be subject to compliance with the AIM Rules and Hong Kong Code on Takeover and Mergers. 
The parties have agreed that Stephen Koo will retain the rights to all dividends for the financial year ended 31 March 2016, and to any in-specie dividend of T-Com, UniVision's Taiwanese subsidiary. 
Hai Li is a PRC real estate developer which owns a property project in NanNing, PRC valued at approx. Rmb1,081m. Hai Li wishes to become a major shareholder in UniVision to expand its realm of business activity. 
Stephen Koo said "I am delighted that Hai Li have agreed to become a substantial shareholder in UniVision. Their financial strength and operations will support us tendering for higher value contracts which we are currently working on." 
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 
(Nominated Adviser and Broker)  Tel: +44 (0)2070602220
Richard Morrison /Ivy Wang   www.zaicf.com 

This information is provided by RNS
The company news service from the London Stock Exchange
  END
RDSFFDFMLFISESE