Transaction in Own Shares

RNS Number : 0881Y

UniVision Engineering Ltd

24 February 2012

 



 24 February 2012

UniVision Engineering Limited

("UniVision" or the "Group)

Transaction in Own Shares

Further to the announcement of UniVision's final results on 29 September 2011 and the approval of all resolutions at the Company's annual general meeting on 29 October 2011 (including resolution 6, requesting the approval of shareholders for UniVision to repurchase shares in the Company), UniVision announces that on 23 February 2012 it acquired in the market 100,000 ordinary shares of HKD0.0625 each ("Ordinary Shares") at a price of 0.6p per share (the "Share Repurchase"). The Company intends to hold these shares in treasury.

The resolution approved by shareholders at the Company's AGM provides the Board of UniVision with authority to repurchase Ordinary Shares for a period of 15 months, or until the conclusion of the Company's next AGM, whichever occurs first. Any Ordinary Shares which are repurchased will not be cancelled and are intended to be held in treasury with the intention for them to be redistributed to employees of UniVision as a bonus at some time in the future.

Following the Share Repurchase, the total number of shares in issue in UniVision remains at 383,677,323 Ordinary Shares and the Company will hold 100,000 Ordinary Shares in treasury. Therefore the total number of Ordinary Shares in the Company with voting rights is 383,577,323.

The above figure may be used by shareholders 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 Disclosure and Transparency Rules.

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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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