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UniVision Engineering (UVEL)

Sector:

Electronic & Electrical Equipment

Index:

FTSE AIM All-Share

Market Cap

£2.59m

Change Today

Price Unchanged0.000p ()

Share Price

0.68p

Issue of Equity

UniVision Engineering Ltd
14 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 of
52,500,000 new ordinary shares of HK$0.0625 each ('New Shares') at a price of 2
pence per share (the 'Placing Price') with new investors (the 'Placing'). In
addition the Company has issued 2,500,000 new ordinary shares of HKS0.0625 each
at 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 and
dealings are expected to commence on 19 March 2007.

The use of the net proceeds will be used to finance working capital, enhance the
Company'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 a
result of the issue now represent the following percentages of the issued
Ordinary Share capital:

                                          Shares                   percentage of
                                                                          Issued
                                                                   share capital
Stephen 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 3256
Stephen Chan, CEO

HB Corporate                                               +44 (0) 207 510 8600
Imran Ahmad / Luke Cairns / Cecil Jordaan

Threadneedle Communications                                +44 (0) 207 936 9605
Graham Herring/Josh Royston                                      
                                                                          




                      This information is provided by RNS
            The company news service from the London Stock Exchange

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

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Registered in England and Wales (registered no. 3678570).

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