VIVOPOWER ANNOUNCES COMPLETION OF KENSHAW SALE
July 02 2024 - 8:45AM
VivoPower International PLC (Nasdaq: VVPR, "VivoPower” or the
"Company”) is pleased to announce that it has completed the sale of
one of its non-core business units, Kenshaw Electrical (“Kenshaw”),
to ARA Group Limited (“ARA”), a leading diversified industrial
services group based in Australia. This follows the announcement on
April 29, that a definitive asset sale agreement had been reached
with ARA with expected timing for completion of July 1. The
divestment is in line with VivoPower’s previously announced
strategy to focus on reinvesting in its strong growth businesses
including Tembo.
VivoPower was advised on this transaction by STS Capital
Partners in Singapore.
About VivoPower
VivoPower is an award-winning global sustainable
energy solutions B Corporation company focused on electric
solutions for off-road and on-road customised and ruggedised fleet
applications as well as ancillary financing, charging, battery and
microgrids solutions. The Company’s core purpose is to provide its
customers with turnkey decarbonisation solutions that enable them
to move toward net-zero carbon status. VivoPower has operations and
personnel covering Australia, Canada, the Netherlands, the United
Kingdom, the United States, the Philippines, and the United Arab
Emirates.
Forward-Looking Statements
This communication includes certain statements
that may constitute “forward-looking statements” for purposes of
the U.S. federal securities laws. Forward-looking statements
include, but are not limited to, statements that refer to
projections, forecasts or other characterisations of future events
or circumstances, including any underlying assumptions. The words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intends,” “may,” “might,” “plan,” “possible,” “potential,”
“predict,” “project,” “should,” “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking.
Forward-looking statements may include, for example, statements
about the achievement of performance hurdles, or the benefits of
the events or transactions described in this communication and the
expected returns therefrom. These statements are based on
VivoPower’s management’s current expectations or beliefs and are
subject to risk, uncertainty, and changes in circumstances. Actual
results may vary materially from those expressed or implied by the
statements herein due to changes in economic, business, competitive
and/or regulatory factors, and other risks and uncertainties
affecting the operation of VivoPower’s business. These risks,
uncertainties and contingencies include changes in business
conditions, fluctuations in customer demand, changes in accounting
interpretations, management of rapid growth, intensity of
competition from other providers of products and services, changes
in general economic conditions, geopolitical events and regulatory
changes, and other factors set forth in VivoPower’s filings with
the United States Securities and Exchange Commission. The
information set forth herein should be read in light of such risks.
VivoPower is under no obligation to, and expressly disclaims any
obligation to, update or alter its forward-looking statements
whether as a result of new information, future events, changes in
assumptions or otherwise.
ContactShareholder
Enquiriesshareholders@vivopower.com
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