Univision Regulatory News (UVEL)

16 Dec 2005 09:49

UniVision Engineering Ltd16 December 2005 UniVision Engineering Limited ("UniVision" or "the Company") Admission to AIM UniVision Engineering Limited, the Hong Kong based designer and installer ofdigital surveillance and integrated security systems, announces the Admission ofits shares to AIM. 50 million new ordinary shares have been placed at a priceof 3p by Insinger de Beaufort. Net proceeds of the placing are £1 million. Highlights: • Profitable in 2005 • High profile contracts in place, including - Hong Kong Airport and - Sydney CityRail Network • Leading hybrid systems using digital and analogue technology • Established in Asia Pacific markets Stephen Koo, Executive Chairman of UniVision, commented, "Our status as an AIMcompany will enhance the Company's brand in Hong Kong and internationally,whilst the listing will provide us with means to fund future acquisitions tofulfil our potential as a dynamic organisation in an exciting sector. "Surveillance and security systems are an integral part of plans to protect thepublic. Our hybrid technology has already helped large organisations in Asiaand we look forward to our expansion plans in Europe with cautious optimism." UniVision was incorporated in Hong Kong in 1979 and is now established in HongKong, Macau and China. The Company designs, sources and sells its own brand-nameproducts and OEM products including, Microprocessor CCTV Control Systems, VideoDistribution Amplifiers, Fibre Optic Transmission Systems and Smart Card AccessSystems. UniVision intends to become a leading product supplier and systems integrator inthe global security market providing end-to-end solutions focusing on themigration from analogue to digital technology. The Company currently offershybrid security systems and has a portfolio of cutting edge digital technologyused by their blue chip client base and the Hong Kong Government. UniVision isincluded in the Hong Kong Government's list of "Approved Suppliers andInstallation of Video Electronics Equipment". For the year to 31 March 2005 the Company reported profit before taxation of£0.50m (2004: £0.06m) on sales of £2.65m (2004: £3.45m). During this period themanagement focused on significantly reducing the cost of sales resulting in animprovement in operating margin. Financing costs were also reduced during theperiod; the Company now has no debt and cash at bank was £0.38m (2004: £0.13m). To date the Company has completed high profile projects for clients includingHong Kong International Airport, Tsing Ma Bridge Crossing, Mass Transit Railway,Shanghai Plaza 66 and Sydney CityRail Network selling its products through itsdistribution channels in China, Taiwan and other Asian countries. Univisionintends to build on its current strong client base in the Asia Pacific regionand to seek out international partners to assist with its development into othermarkets. -ends- For further information visit www.uvel.com or contact Univision Engineering Limited +852 2389 3256Stephen Koo, ChairmanJohnny Tang, Finance Director Insinger de Beaufort 020 7190 7000Peter WardSimon Fox Tavistock Communications 020 7920 3150Christian Taylor - WilkinsonMatt Ridsdale This information is provided by RNS The company news service from the London Stock Exchange