£2.59m
0.000p ()
0.68p
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