REG - PipeHawk PLC - Sale of Utsi Electronics

PipehawkAnnouncement

24/12/2025 07:00

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RNS Number : 7307M  PipeHawk PLC  24 December 2025

Prior to publication, the information contained within this announcement was
deemed by the Company to constitute inside information as stipulated under the
UK Market Abuse Regulation. With the publication of this announcement, this
information is now considered to be in the public domain.

 

24 December 2025

 

PipeHawk plc

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

 

Proposed disposal of Utsi Electronics Limited

 

PipeHawk (AIM: PIP) announces that it has entered into a binding conditional
sale and purchase agreement (the "SPA") with Hong-Kong incorporated Leidi
Global Supply Limited ("Leidi") in connection with the proposed disposal of
the entire issued share capital of Utsi Electronics Limited ("Utsi") for a
cash consideration of £1.0 million (the "Disposal").

 

As part of the consideration, Pipehawk is to receive a £25k deposit which is
non-refundable save for the NSI Act Condition (see below) not occurring or
PipeHawk electing not to complete the Disposal.  The balance of the £1.0
million cash consideration to be received by PipeHawk will be payable on
completion of the Disposal and will be applied to the Group's working capital
requirements.

 

Following completion of the Disposal, the Group's activities will be
concentrated across Thomson Engineering Design Limited and Adien Limited.

 

The gross assets the subject of the Disposal as at 30 June 2025 were
approximately £430,000 and generated a loss before tax in the year ended 30
June 2025 of approximately £464,000.

 

In addition to other conditions to completion customary for a transaction of
this nature, the Disposal is conditional upon satisfaction of the provisions
of the National Security and Investment Act 2021 (the "NSI Act Condition").
Accordingly, there can be no certainty as to the timings of the completion of
the Disposal nor as to the NSI Act Condition being satisfied.  The long-stop
date for completion of the Disposal is 28 February 2026.

 

A further update will be provided in due course.

 

-Ends-

 

Enquiries:

 

 PipeHawk plc                                Tel. No. 01594 826 611

 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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