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17 Jan 2020 09:35
17 January 2020
RNS REACH ANNOUNCEMENT
UniVision Engineering Limited
("UniVision", the "Company" or the "Group")
UniVision enters into a Cooperation Framework Agreement
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, announces that, further to the sub-contractor announcement on 19 November 2019, it has now also entered into a cooperation framework agreement with China Railway Engineering (Hong Kong) Limited ("CREHK") and China Railway Wuhan Electrification Engineering Group Limited ("CRWE") Joint Venture ("CREHK-CRWE Joint Venture"), which provides a framework for cooperation between the parties on other future projects where they may work together ("Cooperation Framework Agreement").
Under this Agreement, UniVision and the CREHK-CRWE Joint Venture will look to build upon on their recent experience working together to look to co-operate on other projects relating to smart cities, investment and finance, product and services, sales and distribution and work in overseas markets. Each company will regard the other party as its first choice co-operation partner in these areas.
Detailed terms relating to each further project will be agreed on a case by case basis, but within the framework set out in the Cooperation Framework Agreement.
Stephen Koo, Chairman commented:
"We are delighted to have signed this further agreement with the CREHK-CRWE Joint Venture. Our recent experience with them has been excellent, with the Sub-contract Agreement we signed in November working as we had planned so far, with the expected benefits starting to be seen by UniVision. The Cooperation Framework Agreement will provide a consistent basis for our future potential work with them and allow us to pitch jointly for new projects within an agreed framework."
For further information visit www.uvel.com or contact:
UniVision Engineering Limited | Tel: +852 2389 3256 |
Stephen Koo, Chairman | www.uvel.com |
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 | www.sparkadvisorypartners.com |
SI Capital Limited (Broker) | Tel: +44 (0)1483 413500 www.sicapital.co.uk |
Nick Emerson
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