Director Dealing and Transaction in Own Shares

RNS Number : 5452Y

UniVision Engineering Ltd

01 March 2012

 



 01 March 2012

UniVision Engineering Limited

("UniVision" or the "Company")

Director Dealing and transaction in own shares

                                                                                 

UniVision, the AIM listed Hong Kong based designer and installer of digital surveillance and integrated security systems, announces that Stephen Koo, Chairman of UniVision, has today purchased the 100,000 ordinary shares of HKD0.0625 each in the Company ("Ordinary Shares") bought by UniVision on 24 February 2012 at a price of 0.6 pence per Ordinary Share (the "Share Purchase").

These shares were originally purchased in the market by UniVision with the intention of being transferred into treasury by the Company, for redistribution to employees of UniVision as a bonus at some time in the future. The Directors are of the view that the costs of setting up and administering the treasury facility outweigh the benefits at the current time.  It remains the intention of the Company to incentivise its employees through the redistribution of repurchased shares as a bonus however the Directors are currently exploring the most effective method of distributing shares to employees.

Following the Share Purchase, Mr Koo now has a total beneficial interest in 274,703,700 Ordinary Shares in the Company.  Mr Koo's shares are held as follows:

	Number of Ordinary Shares	% of total issued share capital
UniVision Holdings Limited	183,736,000	47.9
Up Sky Investments Limited	78,744,000	20.5
Stephen Koo	12,223,700	3.2
Total	274,703,700	71.6

UniVision Holdings Limited is wholly owned by Up Sky Investments Limited, which is in turn wholly owned by Mr Koo.

As the 100,000 shares are no longer going to be held in treasury the number of Ordinary Shares with voting rights remains at 383,677,323, being the same number of Ordinary Shares in issue.  This figure may be used by shareholders in UniVision as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Services Authority's Disclosure and Transparency Rules.

-ends-

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

UniVision Engineering Limited	[phone]
Stephen Koo, Chairman
Chun Hung Wong, CEO
Nicholas Lyth, Non-Executive Director	[phone]
Allenby Capital Limited (Nominated Adviser/ Broker)
Nick Athanas/James Reeve	[phone]

Notes to Editors:

About UniVision Engineering

UniVision was incorporated in Hong Kong in 1979 and is now established in Hong Kong, Macau and China. The Group designs, sources and sells its own brand-name products and OEM products including, Microprocessor CCTV Control Systems, Video Distribution Amplifiers, Fibre Optic Transmission Systems and Smart Card Access Systems.

UniVision currently offers hybrid security systems and has a portfolio of cutting edge digital technology used by its blue chip client base and the Hong Kong Government. UniVision is included in the Hong Kong Government's list of "Approved Suppliers and Installation of Video Electronics Equipment".

To date the Group has completed high profile projects for clients including Hong Kong International Airport, Tsing Ma Bridge Crossing, Mass Transit Railway, Shanghai Plaza 66 and Sydney CityRail Network selling its products through its distribution channels in China, Taiwan and other Asian countries.

 

END

 

 

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