UniVision Engineering Ltd Contract win (5032M)

TIDMUVEL

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 GBP1.53m). U niVision 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: [phone] 
 Stephen Koo, Chairman                   www.uvel.com 
 Danny Kwok Fai Yip, Finance Director 
 Nicholas Lyth, Non-Executive Director   Tel: [phone] 
 SPARK Advisory Partners Limited         Tel: [phone] 
  (Nominated Adviser) 
 Mark Brady / Neil Baldwin               www. sparkadvisorypartners.com 
 
 SI Capital Limited                      Tel: [phone] 
  (Broker)                                www.sicapital.co.uk 
 

Nick Emerson

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January 21, 2021 08:41 ET (13:41 GMT)