Additional works for the MTR contract

RNS Number : 2614V

UniVision Engineering Ltd

01 November 2017

 

RNS ANNOUNCEMENT: The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

For immediate release: 1 November 2017

UniVision Engineering Limited

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

Additional works for the MTR contract 

UniVision, 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 delighted to announce that further additional works have been confirmed by MTR Corporation Limited in Hong Kong ("MTR Corporation") under the contract for the replacement and provision of the CCTV systems for 84 MTR stations and 69 stops of Light Rail ("the Contract") following the award of the Contract announced on 12 May 2017.

The additional works are for the integration with the Station CCTV System in the Hung Hom to Admiralty Section of the Shatin to Central Link project, and are part of the optional works as allowed under the Contract.

The value of the additional works is HK$10.9m (£1.05m) and has not been included in the original contract sum of HK$389.4m (£38.1m) announced on 12 May 2017.

The total value of the Contract, including all the additional works (amounting to HK$17.9m) confirmed by MTR Corporation since May 2017, is therefore HK$407.3m (£39.85m).  As previously announced, the Contract is ongoing and is due for completion in November 2023.

For further information visit www.uvel.com or contact:

UniVision Engineering Limited	Tel: [phone]
Stephen Koo, Chairman	www.uvel.com
Chun Pan Wong, Chief Executive Officer
Danny Kwok Fai Yip, Finance Director
Nicholas Lyth, Non-Executive Director	Tel: [phone]
SPARK Advisory Partners Limited                                        (Nominated Adviser)	Tel: [phone]
Mark Brady / Neil Baldwin	www.sparkadvisorypartners.com

 

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