UniVision Engineering Ltd Cooperation Framework Agreement

TIDMUVEL

UniVision Engineering Ltd

17 January 2020

17 January 2020

RNS REACH ANNOUNCEMENT

UniVision Engineering Limited

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

UniVision enters into a Cooperation Framework Agreement

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, announces that, further to the sub-contractor announcement on 19 November 2019, it has now also entered into a cooperation framework agreement with China Railway Engineering (Hong Kong) Limited ("CREHK") and China Railway Wuhan Electrification Engineering Group Limited ("CRWE") Joint Venture ("CREHK-CRWE Joint Venture"), which provides a framework for cooperation between the parties on other future projects where they may work together ("Cooperation Framework Agreement").

Under this Agreement, UniVision and the CREHK-CRWE Joint Venture will look to build upon on their recent experience working together to look to co-operate on other projects relating to smart cities, investment and finance, product and services, sales and distribution and work in overseas markets. Each company will regard the other party as its first choice co-operation partner in these areas.

Detailed terms relating to each further project will be agreed on a case by case basis, but within the framework set out in the Cooperation Framework Agreement.

Stephen Koo, Chairman commented:

"We are delighted to have signed this further agreement with the CREHK-CRWE Joint Venture. Our recent experience with them has been excellent, with the Sub-contract Agreement we signed in November working as we had planned so far, with the expected benefits starting to be seen by UniVision. The Cooperation Framework Agreement will provide a consistent basis for our future potential work with them and allow us to pitch jointly for new projects within an agreed framework."

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 17, 2020 04:35 ET (09:35 GMT)