VivoPower sets record date of July 9 for eligibility for Caret special dividend

VivoPower (VVPR) International PLC announced that it has set the record date as July 9 for the purpose of determining eligibility to receive a special dividend relating to the spin-off of Caret Digital Limited. The implied market capitalization for the spin-off is $308M, subject to change based on market conditions and other factors. Additionally, Caret Digital intends to raise up to $50M from strategic investors as part of the transaction to support growth plans and it has been engaged in negotiations with counterparties in the Middle East and Asia, the company noted. VivoPower has filed a notice in accordance with Nasdaq rules that provides at least 10 calendar days’ notice of a record date. The ex-dividend date will be set by Nasdaq in accordance with its procedures. VivoPower shareholders as of the record date of July 9 will be entitled to receive a special dividend of five shares of Caret Digital for each VivoPower share held, the company noted.