Contract Win

RNS Number : 6799X

UniVision Engineering Ltd

01 September 2020

 

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 September 2020

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 third Supplementary Agreement to its May 2017 Agreement with the MTR Corporation in Hong Kong ("MTRC")(the "Major Contract").

Supplementary Agreement No.3, which is for the provision of UPS (Uninterrupted Power Supply) for WRL (West Rail Line) for Core and Backbone Network Equipment to the CCTV Data Network, has an agreed contract value of HK$29m (approximately £2.8m).  The work will be completed and invoiced over the remaining period of the Main Contract, which runs through until November 2023.

This contract award follows closely behind Supplementary Agreement No.2, announced as part of the Trading Update on 3 July 2020, which was for HK$16.9m.

Further information regarding the Company's current trading and performance will be given as part of the announcement of our Final Results, for the year ended 31 March 2020, which we expect to publish later this month.

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   (Nominated Adviser)	Tel: [phone]
Mark Brady / Neil Baldwin	www. sparkadvisorypartners.com
SI Capital Limited (Broker)	Tel:  [phone] www.sicapital.co.uk

Nick Emerson

 

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