Pipehawk (GB:PIP) has released an update.
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PipeHawk PLC has announced an extension to the repayment date of their £1.0 million convertible unsecured loan stock (CULS), initially issued to Chairman Gordon Watt, from August 2022 to August 2026 with a conversion price fixed at 5 pence per share. The company corrected previous clerical errors in financial statements that incorrectly listed the conversion price at 3 pence. This latest amendment was deemed a related party transaction and, upon consultation with the company’s nominated adviser, was considered fair to shareholders.
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