Completion of disposal of Utsi Electronics Limited

Summary by AI ^BETAClose X

PipeHawk plc has completed the disposal of Utsi Electronics Limited, receiving £1.0 million in cash consideration, with £100,000 retained for up to 12 months, which will be applied to the Group's working capital requirements. This transaction follows the satisfaction of customary conditions and completion deliverables. As a result of this disposal, Thomson Engineering Design Limited, including Wessex, now constitutes the Group's sole remaining business activities.

Disclaimer*

PipeHawk PLC

30 June 2026

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.

30 June 2026

PipeHawk plc

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

Completion of disposal of Utsi Electronics Limited

PipeHawk (AIM: PIP) is pleased to announce the completion of the disposal of the entire issued share capital of Utsi Electronics Limited (the "Disposal"). This follows the satisfaction of outstanding customary conditions and certain completion deliverables, as outlined in the Company's announcement on 26 May 2026.

Further to the Company's announcement on 24 December 2025, the cash consideration of £1.0 million (less a £100k retention for up to 12 months) receivable in connection with the Disposal will be applied to the Group's working capital requirements.

As a result of the completion of the Disposal, Thomson Engineering Design Limited (which includes the trading activities of Wessex) now represents the Group's remaining business activities.

-Ends-

Enquiries:

PipeHawk plc

Gordon Watt (Chairman)

Tel. No. 01594 826 611

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

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