VivoPower Agrees to Grant Exclusivity to Energi Subject to Increase in Non-Binding All-Cash Takeover Offer to Enterprise Value of US$180 Million

Company Overview - VivoPower International PLC is a global sustainable energy solutions B Corporation focused on electric solutions for customized fleet applications and ancillary services such as financing, charging, battery, and microgrids [4] - The company was established in 2014 and has been listed on Nasdaq since 2016, with operations in multiple countries including Australia, Canada, the Netherlands, the UK, the US, the Philippines, and the UAE [4] Acquisition Proposal - Energi Holdings Limited has made a non-binding all-cash takeover proposal to acquire the non-affiliated shareholders of VivoPower at an enterprise valuation of US$180 million, up from a previous valuation of US$120 million [1][2] - Energi is an Abu Dhabi-based energy solutions company with US$1 billion in revenues and a presence in various regions including the Middle East, Africa, South Asia, Europe, and Southeast Asia [2] Board Actions - The board of VivoPower has formed a subcommittee consisting of a majority of independent directors to oversee the acquisition process and will provide timely updates to the market [3]