PipeHawk (AIM:PIP) shares gained 20%, to reach 3p, after the Cabinet Office said the NSI Act notification clears a regulatory barrier to the proposed disposal of Utsi Electronics. The company said completion remains subject to customary conditions and certain deliverables, with a long-stop completion date of 30 June.
Completion of the Disposal remains subject to other conditions customary for a transaction of this nature and certain completion deliverables, and there can be no certainty that completion will occur or as to its timing, with a long-stop date for completion of 30 June.
The company said it will provide a further update in due course.
