VivoPower reduces debt by $7.5M

VivoPower (VVPR) International has further reduced its liabilities by negotiating with selected lenders and suppliers to the Company to exchange monies outstanding for VVPR ordinary shares in line with recent offer issue prices. Ordinary shares issued are, however, subject to lock-up conditions. In addition, directors of the Company have elected to receive shares in lieu of certain directors’ fees and costs. These shares will be subject to lock-up conditions, except for a limited percentage that, pursuant to SEC rule 10b5-1, can be programmatically sold by the nominated broker to cover for consequential tax liabilities for the directors. These initiatives together have the effect of further improving the Company’s balance sheet by an aggregate of $7.5M. As stated in a previous announcement, the Company’s objective is to retire its debts, including the AWN shareholder loan in full. The unaudited balance of the principal component of the AWN shareholder loan was $28.8M as of June 30, 2025 with a retirement program having already commenced post balance date.