REG - PipeHawk PLC - AGM Statement

PipehawkAnnouncement

22/12/2022 07:00

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RNS Number : 5314K  PipeHawk PLC  22 December 2022

This announcement contains inside information as stipulated under the Market
Abuse Regulations (EU) no. 596/2014 (which forms part of domestic UK law
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inside information is now considered to be in the public domain.

 

22 December 2022

PipeHawk plc

("PipeHawk", "Company" or the "Group")

 

AGM Statement

 

Gordon Watt, Chairman of PipeHawk, will be making the following statement at
the Company's Annual General Meeting being held at 11.30 a.m. this morning:

 

"In my Chairman's Statement which accompanied the annual accounts for the year
ended 30 June 2022, I reported that the orders intake for the first four
months of the current FY at QM Systems was in excess of £3 million and that
further significant order intake was expected through the second quarter of
the current FY and anticipated for the following quarter.  I am pleased to
report that the order intake for the year to date stands at a healthy £4.3
million and this does not include the carried forward order book at the
beginning of the current FY, which stood at £2.5 million.  QM Systems also
has a strong order pipeline which is most encouraging for the remainder of the
current financial year.

 

I am also pleased to report that QM Systems has signed a further contract
manufacturing agreement with Fast MDx, a UK-based molecular diagnostics
company, to deliver a semi-automated low‑cost, high‑throughput,
near-patient Molecular Diagnostic Test System.  This agreement covers the
pilot phase and will involve the design and manufacture of the system and the
filling of vials on behalf of the customer at the Hartlebury premises.  This
is an interesting early-stage project and while revenues will not be material
at this stage, QM Systems hopes that this will lead to a larger contract in
due course.

 

I can also report that the memorandum of understanding signed by Thomson
Engineering Design Limited ("TED") with Unipart Rail Limited ("Unipart Rail")
for Unipart Rail to be the exclusive partner for sales and distribution of TED
rail equipment into territories in Europe, Asia, New Zealand, Australia and
the Americas has now been signed as a contract.

 

TED has also recently started to do small scale contract manufacturing for a
long-established supplier to the Rail Industry to conduct a small number of
mule conversions, with the expectation that this will lead to Toyota Hilux
conversions in H2 of the current FY.  TED intends to develop this area of its
business by developing partnerships outside the rail sector.

 

A presentation on QM Systems and TED will be made after the AGM has been held
and this will be made available on the Company's website (www.pipehawk.com
(http://www.pipehawk.com/) ) shortly thereafter."

 

-Ends-

 

Enquiries:

 

 PipeHawk plc                                Tel. No. 01252 338 959

 Gordon Watt (Chairman)

 Allenby Capital Limited (Nomad and Broker)  Tel. No. 020 3328 5656

David Worlidge/Vivek Bhardwaj

 

For further information on the Company and its subsidiaries, please visit:
www.pipehawk.com (http://www.pipehawk.com/)

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