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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pipehawk Plc | LSE:PIP | London | Ordinary Share | GB0003010609 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.00 | 5.50 | 6.50 | 6.00 | 6.00 | 6.00 | 0.00 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
General Indl Mach & Eq, Nec | 6.47M | -2.48M | -0.0684 | -0.88 | 2.18M |
TIDMPIP
RNS Number : 1617M
PipeHawk PLC
17 September 2021
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.
17 September 2021
PipeHawk plc
("PipeHawk", "Company" or the "Group")
Update on acquisition of Utsi Electronics Limited
Further to the Company's announcement on 28 January 2021, it was agreed that the consideration for the Acquisition will be satisfied as an initial cash payment of GBP500,000, subject to adjustment based on UtEl's net asset value on completion, with any excess over GBP500,000 to be satisfied as 50 per cent. in cash and 50 per cent. in ordinary shares in PipeHawk (based on the Company's volume weighted average price of a PipeHawk ordinary share for the preceding 30 business days) ("Deferred Payment Shares").
PipeHawk is pleased to announce that the completion accounts in relation to the Acquisition have now been completed and in this regard can confirm that the net asset value on completion was GBP 693,890 . Accordingly, PipeHawk will satisfy the excess consideration payable by making a further cash payment of GBP96,945 and delivery of 952,308 Deferred Payment Shares. In calculating the number of Deferred Payment Shares, the Company's volume weighted average price of a PipeHawk ordinary share for the preceding 30 business days was 10.18p.
Application will be made to the London Stock Exchange for 952,308 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will occur on 27 September 2021.
Please note that the above defined terms have the same meaning to those used in the 28 January 2021 announcement published by the Company.
Enquiries:
PipeHawk Plc Tel. No. 01252 338 959 Gordon Watt (Chairman) Allenby Capital (Nomad and Broker) Tel. No. 020 3328 5656 David Worlidge/Vivek Bhardwaj
Notes to Editors
For further information on the Company and its subsidiaries, please visit: www.pipehawk.com
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END
UPDUBSKRAAUKARR
(END) Dow Jones Newswires
September 17, 2021 05:42 ET (09:42 GMT)
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