Stock Buyback Program commencing from today, with broker engaged to execute any open market purchases
Stock Buyback Program previously announced in April 2024 to be extended for an additional 15 months to June 30, 2026
VivoPower today announced that its Board of Directors has authorized the extension of a capital management strategy including a stock buyback program pursuant to which the Company is authorized to purchase up to US$5 million of the Company’s outstanding ordinary shares. The Stock Buyback Program now has an updated expiration date of June 30, 2026, and maybe suspended, terminated, amended or modified by the Board at any time without prior notice at the Board’s discretion. No shares have been repurchased under the Stock Buyback Program to date.
The Stock Buyback Program is expected to be funded using the Company’s proceeds from any surplus cash receipts, realisation of business and asset divestitures including spin-offs and carve-outs. Repurchases under the Stock Buyback Program may be made, from time to time, in amounts and at prices the Company deems appropriate. The Stock Buyback Program does not obligate the Company to purchase any of its ordinary shares. Repurchases by the Company under the Stock Buyback Program will be subject to general market and economic conditions, applicable legal and regulatory requirements, shareholder approval, availability of distributable profits, and other considerations, including alternate uses of capital and the Company’s financial performance. Repurchases may be executed through the open market or in privately negotiated transactions, including under Rule 10b5-1 plans.
To read our full press release, and to keep up with all of VivoPower’s releases, visit our Press Releases page.
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