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VIVOPOWER SECURES EXTENSION FOR US$34M LOAN FINANCING FACILITY AGREEMENT
VVPRVivoPower(VVPR) Newsfilter·2024-07-09 20:20

Core Insights - VivoPower has secured an amendment and extension to its US34millionshareholderloanfinancingagreement,consolidatingallshareholderloansattheVivoPowerInternationalPLClevel,whichenhancesitsbalancesheetprofile[5][6]−TheagreementreflectscontinuedmajorshareholdersupportfromAWNHoldingsLimited,indicatingconfidenceinVivoPower′songoingbusinessstrategies,particularlytheTembotransaction[5][6]−AWNwillreceiveanoptiontoacquire1,150,000Tembosharesatanexercisepriceof34 million shareholder loan financing agreement, consolidating all shareholder loans at the VivoPower International PLC level, which enhances its balance sheet profile [5][6] - The agreement reflects continued major shareholder support from AWN Holdings Limited, indicating confidence in VivoPower's ongoing business strategies, particularly the Tembo transaction [5][6] - AWN will receive an option to acquire 1,150,000 Tembo shares at an exercise price of 1.35 per share, which is expected to represent less than 1.3% of the total shares in the newly listed Tembo post-deSPAC [6] Company Overview - VivoPower is a global sustainable energy solutions B Corporation focused on electric solutions for customized fleet applications, including off-road and on-road vehicles, as well as ancillary services like financing, charging, battery, and microgrids [7] - The company's mission is to provide turnkey decarbonization solutions to help customers achieve net-zero carbon status, with operations in multiple countries including Australia, Canada, the Netherlands, the UK, the US, the Philippines, and the UAE [7]