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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 |
11 March 2019
PipeHawk plc
(“Pipehawk" or the "Company")
Further re Acquisition of Thomson Engineering Design Limited
Further to its announcement of 29 November 2017, Pipehawk announces an amendment to the terms of the acquisition of the entire issued share capital of Thomson Engineering Design Limited (“Thomson”) (the “Acquisition”).
As previously announced, immediately following the completion of the Acquisition, Thomson had unsecured, interest free, short term loans due to the vendors of the business (the “Vendors”), amounting to £200,000, and repayment was due to commence on 14 July 2018 at a rate of £12,500 per quarter, for a period of four years (the “Vendor Loans”). To date, no repayments have been made as a result of warranty claims.
Pipehawk and the Vendors have agreed to amend the original terms of the Acquisition and as a result the total liability of the PipeHawk Group to the Vendors has been reduced from £200,000 to £71,000. The Vendor Loans of £200,000 payable by Thomson have been assigned by the Vendors to PipeHawk in consideration of the following;
Application will be made to the London Stock Exchange for 340,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will occur on 22 March 2019.
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 |
Copyright h 10 PR Newswire
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