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LONDON, June 19, 2020 (GLOBE NEWSWIRE) --
On June 17, 2020, VivoPower International PLC (VVPR) (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) confirming that the Company has regained compliance with Listing Rule 5550(a)(2), requiring that companies listed on the Nasdaq Capital Market maintain a closing bid price of at least $1.00 per share, for a minimum number of business days. The Company’s share price has risen by 68% since June 1, 2020 to close at $1.60 on 17 June 2020 (being the date of the confirmation letter from NASDAQ). Over this period, the closing bid price maintained a level above $1.00, with an average daily turnover exceeding 1 million shares, which is 3x higher than the norm. This is a positive development for the Company and has been achieved ahead of the re-instatement of the NASDAQ’s Price-based Requirements on July 1, 2020.
VivoPower is an international solar and critical power services company, providing critical energy infrastructure generation and distribution solutions to a diverse range of commercial and industrial customers, including the development, construction, and sale of photovoltaic solar projects.
This communication includes certain statements that may constitute “forward-looking statements” for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower’s management’s current expectations or beliefs and are subject to risk, uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.