Proposed disposal of Utsi Electronics Limited
PipeHawk plc has announced that the National Security and Investment Act 2021 condition has been satisfied regarding the proposed disposal of its entire issued share capital in Utsi Electronics Limited, meaning the Cabinet Office will take no further action. While this condition is met, the completion of the disposal is still subject to other customary conditions and deliverables, with no certainty on the timing or occurrence of the transaction, and a long-stop date of 30 June 2026.
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PipeHawk (AIM: PIP) announces that it has received notification from the Cabinet Office that it will not be taking any further action under the National Security and Investment Act 2021 (the "NSI Act Condition") in relation to the proposed disposal of the entire issued share capital of Utsi Electronics Limited (the "Disposal"). Accordingly, the board of directors of PipeHawk is pleased to confirm that the NSI Act Condition has now been satisfied.
Completion of the Disposal remains subject to other conditions that are customary for a transaction of this nature as well as, inter alia, certain completion deliverables. Accordingly, there can be no certainty that completion of the Disposal will occur, nor as to the timing of the Disposal. The long-stop date for completion of the Disposal is 30 June 2026.
A further update will be provided in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.