IN BRIEF: PipeHawk clears NSI hurdle for proposed Utsi disposal

PipeHawk PLC - Cinderford, England-based engineering solutions for utilities, government and rail industries - Says the Cabinet Office will not be taking further action under the National Security and Investment Act 2021 regarding the proposed divestment of Utsi Electronics Ltd. Says the NSI Act condition has been cleared. Back in December, PipeHawk said it had entered into a binding conditional agreement to sell the subsidiary to Hong Kong-based Leidi Global Supply Ltd for GBP1.0 million in cash. Notes deal completion is subject to other conditions alongside certain completion deliverables. Adds that the long-stop date for completion is June 30.

Current stock price: 3.00 pence, up 20% on Tuesday morning in London

12-month change: more than doubled from 1.15p

By Christopher Ward, Alliance News reporter

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