REG-PipeHawk Plc: Further major contract award by Penso and trading update

PipehawkAnnouncement

11/12/2019 15:40

This announcement contains inside information as stipulated under the Market
Abuse Regulations (EU) no. 596/2014 ("MAR"). With the publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

11 December 2019

PipeHawk plc

(“PipeHawk” or the "Company")

Further major contract award by Penso (UK) Ltd and trading update

The Company is pleased to announce that its subsidiary, QM Systems, has been
awarded a further contract by Penso UK Ltd (“Penso”). 

Following the successful installation of the Flava manufacturing system
(announced in January 2019), QM Systems will provide Penso with an expansion
to the system to manufacture a larger platform vehicle. The project, worth
approximately £1 million, will start immediately and is due for completion
within the current financial year.

This contract caps a very strong first half of the current financial year by
QM Systems. In the period from 1 July 2019 to date (i.e. including the above
contract), QM Systems had an order intake of £3.3 million and quotation
activity continues to be buoyant.

Adien has also had a strong first half winning a number of contracts assisting
with the 5G Mast roll-out with a value of several hundred thousand pounds and
being awarded multi-year framework agreements with two major whisky distillery
groups to survey all their sites.

Gordon Watt, Chairman of PipeHawk commented, “The follow-on contract from
Penso is fantastic news and builds on the partnership that Penso and QM have
established to provide a market leading first of its kind in automated
flexible lightweight carbon fibre structures.  We are very much looking
forward to continuing our journey with Penso over the coming months.  I am
also very encouraged by the order intake to date in this financial year at QM
Systems and at Adien.”

 Enquiries:  PipeHawk Plc Gordon Watt (Chairman)                          Tel. No. 01252 338 959  
 Allenby Capital Limited (Nomad and Broker) David Worlidge / Asha Chotai  Tel. No. 020 3328 5656  

Notes to Editors

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



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