TIDMUVEL

UniVision Engineering Ltd

25 May 2017

UniVision Engineering Limited

("UniVision" or the"Company")

25 May 2017

Following the announcement on 12 May 2017, concerning the award of the HK$389.4m contract ("the Contract") to UniVision by the Hong Kong MTR Corporation Limited ("MTR Corporation"), the Board of Directors wishes to expand on its future marketing ambitions.

The Company was awarded this contract in the face of severe competition from major multinational companies that have operations focusing on closed circuit television and surveillance systems. The Board believes that this success presents UniVision with an opportunity to market its brand to purchasers of similar systems outside Hong Kong, including but not limited to the Peoples Republic of China ("PRC") and Australasia.

There are currently 47 metro systems under construction worldwide, of which 17 are in PRC and South East Asia.

At the appropriate time, the Company will commence its review of this market and will update shareholders in due course.

The Company believes that, in addition to the awarding of the Contract by MTR Corporation, in its experience, but without any certainty of securing any contract, there may be the opportunity to win additional potential contracts of varying sizes from MTR Corporation that are associated with the main contract. Should this be the case the Company will update the market.

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

 
 UniVision Engineering Limited           Tel: +852 2389 
                                          3256 
 Stephen Koo, Chairman                   www.uvel.com 
 Chun Pan Wong, Chief Executive 
  Officer 
 Danny Kwok Fai Yip, Finance Director 
 Nicholas Lyth, Non-Executive Director   Tel: +44 (0)7769 
                                          906686 
 
 ZAI Corporate Finance Limited           Tel: +44 (0)20 
  (Nominated Adviser and Broker)          7060 2220 
 Dugald J. Carlean /Tim Cofman           www.zaicf.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

May 25, 2017 05:07 ET (09:07 GMT)

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