New dividend policy, OTCBB listing, & new contract

RNS Number : 7940B

UniVision Engineering Ltd

08 April 2013

 



8 April 2013

UniVision Engineering Limited

("UniVision" or the "Company")

New dividend policy, OTCBB listing, & new contract wins

UniVision, the AIM listed Hong Kong based designer and installer of digital surveillance and integrated security systems is pleased to announce that it has secured a number of new contracts in Hong Kong in the recent months with a total sales value of circa HK$12.8M (approx. £1.1M). The following are the new contract wins:

1. Design, supply, delivery, installation, testing and commissioning of Closed Circuits Television Systems ("CCTV") for the Island South railway line for the Mass Transit Railway Corporation;

2. Provision of CCTV in the control room of Tsing Yi Station's ancillary building for the Mass Transit Railway Corporation;

3. CCTV upgrading works at the Passenger Terminal Building, Hong Kong International Airport for the Hong Kong Government's Immigration Department; and

4. Supply and Installation of CCTV at Hong Kong International Airport for the Hong Kong Government's Civil Aviation Department.

The Board of UniVision has agreed to pay an annual final dividend to the Shareholders of the Company starting from the financial year ended 31^st March, 2013. The amount of the dividend to be paid will be determined with reference to the cash position and the financial performance of the Company in each relevant reporting period.

With reference to the proposed OTCBB listing in the United States of America, the Board does not propose to proceed as some disclosure requirements insisted on by the U.S. Securities Exchange Commission, in particularly the disclosure of material contracts with customers, are not able to be complied with by the Company given it's various non disclosure agreements with those customers.

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]
Zeus Capital Limited (Nominated Adviser and Broker)
John Simpson	[phone]
Nick Cowles	[phone]

 

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