Completion of disposal of Utsi Electronics Limited
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.
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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.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.