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PipeHawk plc announced on 16 July 2024 that it has appointed RSM UK Restructuring Advisory LLP as administrators to its subsidiary, QM Systems Limited. For the financial year ended 30 June 2023, QM generated approximately £4.2 million in revenues (representing approximately 65% of the Group's revenue) and reported a loss after tax of approximately £970k, with total assets of approximately £4.7 million as at that date.
| Date | 16 Jul 2024 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 4864W |
16 July 2024
PipeHawk plc
("PipeHawk", "Company" or the "Group")
Appointment of Administrators to 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.
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Enquiries:
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PipeHawk plc Gordon Watt (Chairman)
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Tel. No. 01252 338 959 |
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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