VIVOPOWER BOARD ESTABLISHES ILLEGAL MARKET MANIPULATION TASK FORCE
October 31 2023 - 9:25AM
VivoPower International PLC (NASDAQ: VVPR,
“VivoPower”, the “Company”) has approved an action plan to address
alleged illegal market manipulation including dissemination of
false information and/or naked short selling of its stock.
This action plan includes creating a Board-led ‘Illegal Market
Manipulation Task Force’ to actively pursue all possible actions
together with the regulators in their discovery and prosecution of
persons engaging in market manipulation involving the ordinary
shares of VivoPower over the last 12 months. The Company engaged an
external forensic investigation firm and based on its findings, has
reason to believe that certain individuals and/or companies appear
to have acted in concert as part of a market manipulation scheme
seeking to artificially depress the price of the Company’s ordinary
shares. It has also engaged specialist UK and US legal counsel.
VivoPower and its Board will remain steadfast in its objective
to uphold the highest standards of governance for the benefit of
its stakeholders.
About VivoPower
VivoPower is an award-winning global sustainable energy
solutions B Corporation company focused on electric solutions for
customised and ruggedised fleet applications, battery and
microgrids, solar and critical power technology and services. 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 in 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, the anticipated impact that
the events or transactions described in this communication may have
on the Company 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.
Contact
Shareholder Enquiries
shareholders@vivopower.com
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