REG - PipeHawk PLC - Appointment of Administrators to QM Systems

PipehawkAnnouncement

16/07/2024 07:00

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RNS Number : 4864W  PipeHawk PLC  16 July 2024

16 July 2024

PipeHawk plc

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

 

Appointment of Administrators to QM Systems Limited

 

PipeHawk announces that, further to the Group's announcement on 12 July 2024,
the Group has appointed RSM UK Restructuring Advisory LLP as administrators to
QM Systems Limited ("QM"), a subsidiary of PipeHawk. Further announcements
will be made in relation to the administration of QM as appropriate.

 

Information on QM Systems Limited

 

QM is a turnkey provider of automation, test and manufacturing systems to all
industries, also known as a machine builder and also offers contract
manufacturing services. For the financial year ended 30 June 2023, QM
generated approximately £4.2 million in revenues (representing approximately
65% of the Group's revenue for that year) and reported a loss after tax of
approximately £970k. As at 30 June 2023, QM had total assets of approximately
£4.7 million.

 

-Ends-

 

Enquiries:

 

 PipeHawk plc                                Tel. No. 01252 338 959

 Gordon Watt (Chairman)

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

David Hart / Vivek Bhardwaj

 

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

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