UniVision Engineering Ltd Cooperation Framework Agreement
January 17 2020 - 3:35AM
RNS Non-Regulatory
TIDMUVEL
UniVision Engineering Ltd
17 January 2020
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 Tel: +44 (0)20 3368 3551
(Nominated Adviser)
Mark Brady / Neil Baldwin www.sparkadvisorypartners.com
SI Capital Limited Tel: +44 (0)1483 413500
(Broker) www.sicapital.co.uk
Nick Emerson
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END
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