VivoPower International PLC Announces Chief Executive Officer Increase in Shareholding by 1.8%

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Rhea-AI Summary

On June 23, 2021, VivoPower International PLC (NASDAQ: VVPR) announced that Executive Chairman and CEO Kevin Chin has increased his stake by 328,888 shares, equating to approximately 1.8% of total issued shares. This acquisition was facilitated through the election of VivoPower shares due to a default loan obligation settlement with Arowana Partners Group and through market purchases during an open trading window. VivoPower is committed to sustainable energy solutions, focusing on battery storage, electric fleet applications, and solar technology.

Positive

Kevin Chin increased his shareholding by 328,888 shares, indicating strong personal investment.
The share acquisition was executed through both settlement of a loan obligation and market purchases, showcasing confidence in the company's stock.

Negative

None.

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The recorded move for VVPR in the trading session of this news was +9.32%.

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06/23/2021 - 09:15 AM

LONDON, June 23, 2021 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ: VVPR, the “Company”) hereby announces that Executive Chairman and CEO, Kevin Chin, has increased his shareholding in the Company by 328,888 shares (representing approximately 1.8% of the issued shares of the Company). This has been effected through the election of receipt of VivoPower shares as a result of the settlement of a default loan obligation owing to Arowana Partners Group Pty Ltd (an entity associated with Mr. Chin) outlined on page 30 of the Company’s 2019 Annual Report as well as through on market share purchases during an open trading window.

For any inquiries, please reach out to shareholders@vivopower.com.

About VivoPower

VivoPower is a sustainable energy solutions company focused on battery storage, electric solutions for customized and ruggedized fleet applications, solar and critical power technology and services. The Company's core purpose is to provide its customers with turnkey decarbonization solutions that enable them to move toward net zero carbon status. VivoPower is a certified B Corporation with operations in Australia, Canada, the Netherlands, the United Kingdom and the United States.

FAQ

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What did Kevin Chin announce regarding his shares in VivoPower (VVPR)?

Kevin Chin announced an increase in his shareholding by 328,888 shares on June 23, 2021.

How much of VivoPower's total issued shares does Kevin Chin now own?

Kevin Chin now owns approximately 1.8% of VivoPower's total issued shares.

Why did Kevin Chin acquire more VivoPower shares?

The acquisition was through settling a default loan obligation and purchasing shares in the market.

What is VivoPower's core focus?

VivoPower focuses on sustainable energy solutions, including battery storage and electric fleet applications.

VivoPower International PLC Announces Chief Executive Officer Increase in Shareholding by 1.8%