REG - PipeHawk PLC - Contract award

PipehawkAnnouncement

06/06/2023 15:45

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RNS Number : 8485B  PipeHawk PLC  06 June 2023

This announcement contains inside information as stipulated under the Market
Abuse Regulations (EU) no. 596/2014 (which forms part of domestic UK law
pursuant to the European Union (Withdrawal) Act 2018) ("MAR"). With the
publication of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public domain.

 

6 June 2023

PipeHawk plc

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

 

Contract award to assemble a manufacturing and test facility for fire
detection products

 

PipeHawk is pleased to announce that QM Systems Limited ("QM"), one of the
Group's principal subsidiaries, has been awarded a project to deliver a
manufacturing and testing facility for the production by a customer of a newly
developed fire detection product.

 

The project incorporates a range of the latest automation technologies to
provide a bespoke and efficient solution to uniquely fit the customer's
detailed product specifications.

 

It is expected that work will commence immediately, with delivery expected on
or around April 2024. The project is anticipated to generate revenue for QM of
approximately £820,000 which will be recognised over the course of the
project as work progresses, with an initial upfront deposit and then industry
standard milestone payments.

 

Gordon Watt, Chairman of PipeHawk, commented: "I am delighted that QM has been
awarded this project with a new client in an attractive new industry. The
project will see QM develop a new long-term partnership and will further
expand QM's building services client portfolio and system offering into a new
area within building services itself."

 

-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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