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For immediate release: 21 January 2021
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 fifth Supplementary Agreement to its May 2017 Agreement with the MTR Corporation in Hong Kong ("MTRC")(the "Major Contract").
Supplementary Agreement No.5, which is for modifying design and installation method of CCTV cameras ("the Modification Works"), has an agreed contract value of HK$16.3m (approximately £1.53m). UniVision shall supply and install the new IP-based platform cameras and associated equipment to provide full coverage of 9-cars platforms area to achieve the functional and technical requirements by MTRC.
This contract award follows closely behind Supplementary Agreement No.4, announced as Contract Win on 30 December 2020, which was for HK$11.2m.
As announced on 30 December 2020, the Directors now expect that work on the Major Contract, together with the five Supplementary Agreements added to date, is now unlikely to complete in full until July 2024.
For further information visit www.uvel.com or contact:
| UniVision Engineering Limited | Tel: +852 2389 3256 |
| Stephen Koo, Chairman | |
| Danny Kwok Fai Yip, Finance Director | |
| Nicholas Lyth, Non-Executive Director | Tel: +44 (0)7769 906686 |
| SPARK Advisory Partners Limited (Nominated Adviser) | Tel: +44 (0)20 3368 3551 |
| Mark Brady / Neil Baldwin | |
| | |
| SI Capital Limited (Broker) | Tel: +44 (0)1483 413500 |
Nick Emerson
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