TIDMPIP

PipeHawk PLC

30 September 2021

Reach - non regulatory announcement

30 September 2021

PipeHawk plc

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

New lease agreement

PipeHawk is pleased to announce that its subsidiary Thomson Equipment Design Limited ("TED") has concluded its negotiations and has signed a ten-year lease for two modern adjacent open space buildings in Cinderford (together the "New Premises") at an annual rental of GBP90,635 (with the first 12 months' rent free). The New Premises comprise approximately three times the available floor space as compared with TED's existing premises.

Gordon Watt, Chairman of PipeHawk, commented : "This is an exciting next phase in the development of TED, where we are able to retain all the expert and loyal staff at TED, and move them and the business into a much more efficient and spacious working environment. Since 31 December 2020 TED has steadily increased its factory-based work force by 20%; both the orders and enquiries pipelines are significant and growing. We are also currently looking to recruit a further 40% engineering staff in the near future."

Enquiries:

 
 PipeHawk Plc                         Tel. No. 01252 338 959 
  Gordon Watt (Chairman) 
 Allenby Capital (Nomad and Broker)   Tel. No. 020 3328 5656 
  David Worlidge/Vivek Bhardwaj 
 

Notes to Editors

   For further information on the Company and its subsidiaries, please visit:   www.pipehawk.com 

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END

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(END) Dow Jones Newswires

September 30, 2021 10:29 ET (14:29 GMT)

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