The Board of VivoPower International PLC agreed to Spin-Off Caret business unit?s portfolio on October 27, 2023. Caret business unit?s portfolio represents up to ten solar projects totalling 586MW-DC at varying stages of development. It is intended that VivoPower shareholders receive a special dividend in the form of stock in the spin off entity.

The distribution may qualify as tax free to VivoPower stockholders. The distribution is intended to be made to all VivoPower shareholders of record date, November 6, 2023. The distribution will ultimately take place in the form of a pro rata stock dividend to each VivoPower shareholder as of the record date.

Completion of the spin-off transaction will be subject to various conditions, including all the customary approvals with the distribution date and ratio to be advised subsequent to the fulfilment of conditions and approvals.