VivoPower PLC Plans to Focus on AI Data Center Business and Discontinue Prior Separation Plans

VivoPower PLC provided an update on its strategic direction and on separation initiatives tied to Tembo e-LV B.V. and Caret Digital. After a strategic review, the Board determined that the company will focus on developing and scaling its AI data center business, with the separations progressed in a way that matches that priority.

The company said it will discontinue special dividend distribution arrangements and related record-date references tied to its previously disclosed Tembo plans and supersede them with arrangements set out in a Business Combination Agreement (as amended) and a registration statement on Form F-4 once the SEC review concludes. It also said it will stop prior Caret Digital special dividend and in specie distribution arrangements.

For Tembo, VivoPower stated that it entered into a Business Combination Agreement (as amended) on 29 August 2024 with Cactus Acquisition Corp. 1 Limited for a proposed business combination involving Tembo. The Form F-4 registration statement remains under review with the SEC. VivoPower also said it received Nasdaq approval to use the ticker “TEMB.”

For Caret Digital, VivoPower said its Board determined a clean and complete separation is preferable to prior arrangements that contemplated a continuing shareholding alongside a partial in specie distribution. Under the Proposed Separation, the entire issued share capital of Caret Digital held by the VivoPower group would be distributed in specie to VivoPower shareholders on a pro rata basis, subject to final board approval, regulatory and stock exchange approvals, shareholder approvals where required, definitive documentation, registration and listing arrangements, prevailing market conditions, and customary conditions. VivoPower said no offer of securities is being made by the announcement.

Forward-looking statements in the communication addressed projections and expectations about future events, including statements about the company’s ability to execute its AI infrastructure strategy and the benefits of the events or transactions described.