VivoPower PLC is refocusing on its AI data center business and restructuring the separation of its non-core Tembo and Ca
VivoPower PLC, a B Corp-certified developer and owner of powered land and data center infrastructure for AI compute applications trading on NASDAQ under ticker VIVO, announced on July 2, 2026 a strategic refocus on its AI data center business as its principal group priority. Following a strategic review, the Board of Directors has determined that the separation of subsidiaries Tembo e-LV B.V. and Caret Digital from the VivoPower group will be progressed in a manner consistent with this priority.
Regarding the Tembo separation, the Company previously entered into a Business Combination Agreement with Cactus Acquisition Corp. 1 Limited on August 29, 2024. The registration statement on Form F-4 remains under SEC review. Upon completion, subject to SEC approval, shareholder approvals and satisfaction of closing conditions, the combined entity will be named Tembo Group N.V. and will be listed on the Nasdaq Stock Market with ticker TEMB approval already received. VivoPower will retain a minority shareholding in the combined entity, subject to customary conditions and regulatory approvals. The Company has discontinued all special dividend distribution and record date arrangements previously referenced in its June 9, 2025 press release, including the indicative ex-dividend date, record date and other parameters, which are no longer operative and should not be relied upon.
For the Caret Digital separation, which encompasses legacy US-based solar development and digital asset mining operations, the Board has determined that a complete separation is preferable to the previously contemplated arrangements that would have involved VivoPower retaining continuing shareholding. The Board has also considered deterioration in digital asset and ancillary market conditions since prior announcements. The Company has discontinued the special dividend and in specie distribution arrangements previously announced on June 24, 2025, superseding all previously disclosed indicative parameters including record dates and distribution ratios.
Under the Proposed Separation, the entire issued share capital of Caret Digital held by VivoPower would be distributed in specie to VivoPower shareholders on a pro rata basis, providing shareholders with their full pro rata economic interest in Caret Digital. Implementation remains subject to final Board approval, regulatory and stock exchange approvals, shareholder approvals if required, definitive transaction documentation, listing effectiveness on a US national securities exchange, prevailing market conditions and customary closing conditions. The Company notes no assurance can be given regarding the final structure, timing or terms of either separation.