UVEL.L Regulatory News (UVEL)

14 Mar 2007 07:01

UniVision Engineering Ltd14 March 2007 UniVision Engineering Ltd ("UniVision" or "the Company") Placing of New Shares to Raise £ 1,050,000 UniVision Engineering Ltd, the Hong Kong based designer and installer of digital surveillance and integrated security systems, is pleased to announce the successful completion of a placing of new ordinary shares in the Company. The Company has raised GBP £ 1,050,000, before expenses, through a placing of52,500,000 new ordinary shares of HK$0.0625 each ('New Shares') at a price of 2pence per share (the 'Placing Price') with new investors (the 'Placing'). Inaddition the Company has issued 2,500,000 new ordinary shares of HKS0.0625 eachat a price of 2 pence per share to HB Corporate in lieu of fees. Application will be made for the New Shares to be admitted to trading on AIM anddealings are expected to commence on 19 March 2007. The use of the net proceeds will be used to finance working capital, enhance theCompany's brand internationally and facilitate future acquisitions. Following the issue, the Company has 383,677,323 Ordinary Shares in issue. Directors' interests in the shares of the Company, which do not change as aresult of the issue now represent the following percentages of the issuedOrdinary Share capital: Shares percentage of Issued share capitalStephen Koo 78,744,000 20.52%Stephen Chan 0 0%Ronald Sin 0 0%Chun Pan Wong 0 0%Richard Fernie 0 0%Johnny Tang 0 0%Andrew Tang 0 0% ENDS For further information please contact: UniVision Engineering Ltd +852 2389 3256Stephen Chan, CEO HB Corporate +44 (0) 207 510 8600Imran Ahmad / Luke Cairns / Cecil Jordaan Threadneedle Communications +44 (0) 207 936 9605Graham Herring/Josh Royston This information is provided by RNS The company news service from the London Stock Exchange