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1st error was that ... | read msgtime invokes read in a subshell and therefore the value of msgtime is not accessible outside of that. (edit: well, not that it'd work without an input to awk)
...

what error you are getting ?

To get the last one,

you can use the below awk


awk '/Component Manager stopped/ {gsub(":","",$2);last=$2}END{print last}' pe.txt


it will print the last time