PipeHawk says due date for Utsi disposal extended through June

(Sharecast News) - PipeHawk said on Friday that the long-stop date for the proposed disposal of Utsi Electronics had been extended to 30 June. The AIM-listed company said the extension was intended to allow, among other matters, satisfaction of provisions under the National Security and Investment Act 2021.

PipeHawk first announced the revised long-stop arrangements for completion of the proposed disposal of the entire issued share capital of Utsi Electronics on 2 March.

The company said there could be no certainty over the timing of completion of the disposal, or whether the National Security and Investment Act condition would be satisfied.

PipeHawk said a further update would be provided in due course.

At 0834 BST, shares in PipeHawk were up 16.36% at 3.2p.

Reporting by Josh White for Sharecast.com.

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