PIPEHAWK PLC

Legal Proceedings Report • Jul 16, 2024

National Storage Mechanism | Additional information

RNS Number : 4864W

PipeHawk PLC

16 July 2024

16 July 2024

PipeHawk plc

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

Appointment of Administrators t o QM Systems Limited

PipeHawk announces that, further to the Group's announcement on 12 July 2024, the Group has appointed RSM UK Restructuring Advisory LLP as administrators to QM Systems Limited ("QM"), a subsidiary of PipeHawk. Further announcements will be made in relation to the administration of QM as appropriate. 

Information on QM Systems Limited

QM is a turnkey provider of automation, test and manufacturing systems to all industries, also known as a machine builder and also offers contract manufacturing services. For the financial year ended 30 June 2023, QM generated approximately £4.2 million in revenues (representing approximately 65% of the Group's revenue for that year) and reported a loss after tax of approximately £970k. As at 30 June 2023, QM had total assets of approximately £4.7 million.

-Ends-

Enquiries:

PipeHawk plc Gordon Watt (Chairman)	Tel. No. 01252 338 959
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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