Curated News
By: NewsRamp Editorial Staff
April 17, 2024
VivoPower CEO Increases Shareholding by 146,084 Shares
TLDR
- CEO Kevin Chin increasing individual shareholding by 146,084 shares, representing 4.4% of company's shares, provides potential advantage for investors.
- Chin will receive his CEO salary in form of ordinary shares in VivoPower, approved by the Remuneration Committee, for the period from 1 July 2023 to 31 March 2024.
- VivoPower's core purpose is to provide customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status, contributing to a more sustainable world.
- VivoPower is an award-winning global sustainable energy solutions company focused on electric solutions, battery and microgrids, solar and critical power technology and services.
Impact - Why it Matters
The news of VivoPower's CEO increasing his shareholding directly impacts the company's stakeholders and investors. This move demonstrates CEO Kevin Chin's confidence in the company's future, potentially boosting investor confidence and positively influencing the company's stock value. Additionally, it signals a strong commitment to the company's sustainable energy solutions and its goal of providing turnkey decarbonisation solutions to its customers.
Summary
VivoPower International PLC's Executive Chairman and CEO, Kevin Chin, is increasing his individual shareholding in the Company by 146,084 shares, representing approximately 4.4% of the undiluted number of issued and outstanding shares of the Company. This is through a voluntary election to receive his CEO salary from 1 July 2023 until 30 June 2024, in the form of ordinary shares in VivoPower. The number of shares noted above represents CEO compensation for the 9 month period to 31, 2024, with Kevin Chin also having elected in November 2023 to receive his CEO salary for the full financial year ending June 30, 2024 in the form of VivoPower ordinary shares.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, VivoPower CEO Increases Shareholding by 146,084 Shares
