As p eviously disclosed, o 29 August 2024 the Compa y e te ed i to a Busi ess Combi atio Ag eeme t (as ame ded) with Cactus Acquisitio Co p. 1 Limited (“CCTS”) i elatio to a p oposed busi ess combi atio i volvi g Tembo (the “Tembo Busi ess Combi atio ”). The egist atio stateme t o Fo m F-4 i espect of the p oposed Tembo Busi ess Combi atio emai s u de eview with the U ited States Secu ities a d Excha ge Commissio (the “SEC”).
Subject to completio of the SEC eview p ocess, eceipt of the equisite sha eholde app ovals a d the satisfactio (o , whe e applicable, waive ) of the othe co ditio s to closi g, it is cu e tly co templated that, o completio , the combi ed e tity will be amed Tembo G oup N.V. a d that its o di a y sha es will be listed o the Nasdaq Stock Ma ket, with the Compa y etai i g a mi o ity sha eholdi g i the combi ed e tity, subject to customa y co ditio s a d equi ed egulato y app ovals.
Co siste t with the Boa d’s dete mi atio that VivoPowe will focus o its AI data ce te busi ess as its p i cipal st ategic p io ity, a d havi g ega d to the te ms of the Tembo Busi ess Combi atio desc ibed above, the Compa y co fi ms that a y special divide d dist ibutio a d elated eco d date a a geme ts efe e ced i the Compa y’s p ess elease dated 9 Ju e 2025 a d a y elated o subseque t a ou ceme ts (togethe , the “P io Tembo Dist ibutio A ou ceme ts”) a e he eby disco ti ued a d will be supe seded by the a a geme ts desc ibed i the Busi ess Combi atio Ag eeme t (as ame ded) a d the egist atio stateme t o Fo m F-4, as a d whe decla ed effective by the SEC. Without limitatio , the i dicative ex-divide d date a d i dicative eco d date efe e ced i the P io Tembo Dist ibutio A ou ceme ts, togethe with a y othe i dicative pa amete s, valuatio i dicatio s, dist ibutio atios, impleme tatio steps o expected timi g set out o efe e ced i the P io Tembo Dist ibutio A ou ceme ts, a e o lo ge ope ative a d should ot be elied upo by a y VivoPowe sha eholde o othe pe so .
The Compa y has eceived NASDAQ app oval to use the ticke “TEMB”. Howeve , o assu a ce ca be give that the Tembo Busi ess Combi atio will be completed o the te ms o timetable cu e tly co templated, o at all. The Compa y will p ovide fu the updates i espect of the Tembo Busi ess Combi atio as a d whe equi ed by applicable law o its disclosu e obligatio s.
As p eviously disclosed, i cludi g i the Compa y’s p ess elease dated 24 Ju e 2025 a d elated a ou ceme ts (togethe , the “P io Ca et A ou ceme ts”), VivoPowe has bee evaluati g st ategic optio s i espect of its legacy US-based sola developme t a d digital asset mi i g ope atio s, which have bee o ga ized u de the Ca et Digital b a d. Those optio s have i cluded a pote tial sepa atio of Ca et Digital f om the wide VivoPowe g oup by way of a spi -off of Ca et Digital coupled with a special divide d i the fo m of Ca et Digital sha es to VivoPowe sha eholde s, to be effected i co ectio with a p oposed di ect listi g of Ca et Digital o a US atio al secu ities excha ge.
Followi g a st ategic eview u de take by the Boa d of Di ecto s of the Compa y i co sultatio with its advise s, the Boa d has dete mi ed that VivoPowe will focus, as a g oup, o the developme t a d comme cializatio of its AI data ce te busi ess as its p i cipal st ategic p io ity. I light of that dete mi atio , the Boa d co side s that a clea a d complete sepa atio of Ca et Digital f om the VivoPowe g oup is p efe able to the a a geme ts p eviously co templated u de the P io Ca et A ou ceme ts (which would have i volved VivoPowe etai i g a co ti ui g sha eholdi g i Ca et Digital alo gside the pa tial i specie special divide d dist ibutio to VivoPowe sha eholde s). The Boa d has also had ega d, amo g othe thi gs, to the dete io atio i digital asset a d a cilla y ma ket co ditio s si ce the P io Ca et A ou ceme ts.
Acco di gly, the Compa y co fi ms that the special divide d a d the elated i specie dist ibutio a a geme ts efe e ced i the P io Ca et A ou ceme ts a e he eby disco ti ued a d will be supe seded by a pote tial P oposed Sepa atio desc ibed below. A y i dicative pa amete s set out i , o efe e ced by, the P io Ca et A ou ceme ts (i cludi g the i dicative eco d date, the i dicative dist ibutio atio, a y valuatio i dicatio a d a y othe i dicative impleme tatio steps) a e o lo ge ope ative a d should ot be elied upo .
U de the P oposed Sepa atio , subject to the matte s efe ed to below, the e ti e issued sha e capital of Ca et Digital held by the VivoPowe g oup would, i due cou se, be dist ibuted i specie to VivoPowe sha eholde s o a p o ata basis (the “P oposed Sepa atio ”). The P oposed Sepa atio is bei g developed with the i te tio of p ovidi g VivoPowe sha eholde s with thei full p o ata eco omic i te est i Ca et Digital, athe tha the pa tial special divide d dist ibutio co templated by the P io Ca et A ou ceme ts.
The Boa d of Di ecto s is committed to impleme ti g the P oposed Sepa atio , subject to the matte s efe ed to i this pa ag aph. Impleme tatio of the P oposed Sepa atio will be subject to, amo g othe thi gs: the fi al app oval of the Boa d of Di ecto s of the defi itive te ms of the P oposed Sepa atio ; the eceipt of all ecessa y egulato y, stock excha ge a d, if a d to the exte t equi ed, sha eholde app ovals; the ag eeme t of defi itive t a sactio docume tatio ; the effective ess of a y egist atio , listi g o othe a a geme ts equi ed i co ectio with the listi g of Ca et Digital o a US atio al secu ities excha ge; p evaili g ma ket co ditio s; a d the satisfactio of customa y co ditio s. Acco di gly, while the Compa y i te ds to p oceed with the P oposed Sepa atio , o assu a ce ca be give as to the fi al st uctu e, fo m, timi g o othe te ms of the P oposed Sepa atio , o as to whethe o whe it will be impleme ted, a d fu the a ou ceme ts will be made i due cou se.
No offe of secu ities is bei g made by this a ou ceme t. This a ou ceme t does ot co stitute, a d shall ot be co st ued as, a offe to sell o a solicitatio of a offe to buy a y secu ities, a d does ot co stitute tax, legal o i vestme t advice. VivoPowe sha eholde s a e u ged to co sult thei ow p ofessio al advise s ega di g the tax, legal a d othe co seque ces of the P oposed Sepa atio . A y secu ities that may, i the futu e, be offe ed, issued o dist ibuted i co ectio with the P oposed Sepa atio will ot be offe ed, sold o dist ibuted i a y ju isdictio i which such offe , sale o dist ibutio would be u lawful. The Compa y will make fu the a ou ceme ts i espect of Ca et Digital, i cludi g i espect of the P oposed Sepa atio , as a d whe equi ed by applicable law o its disclosu e obligatio s.
O igi ally fou ded i 2014 a d listed o Nasdaq si ce 2016, VivoPowe is a awa d-wi i g B Co po atio with data ce te a d powe ed la d i f ast uctu e ac oss No way, Fi la d, a d the U ited A ab Emi ates. The Compa y’s missio is to be the i depe de t, t usted pa t e fo sove eig atio s that develop a d ope ate sustai able data ce te i f ast uctu e, e su i g sove eig co t ol ove powe , data, a d atio al i tellige ce. I doi g so, VivoPowe helps sove eig atio s b idge the gap betwee thei e e gy assets a d thei AI ambitio s by p ovidi g the Powe -to-X i f ast uctu e ecessa y to build a d co t ol thei ow domestic i tellige ce hubs.
This commu icatio i cludes ce tai stateme ts that may co stitute “fo wa d-looki g stateme ts” fo pu poses of the U.S. fede al secu ities laws. Fo wa d-looki g stateme ts i clude, but a e ot limited to, stateme ts that efe to p ojectio s, fo ecasts, o othe cha acte izatio s of futu e eve ts o ci cumsta ces, i cludi g a y u de lyi g assumptio s. The wo ds “a ticipate,” “believe,” “co ti ue,” “could,” “estimate,” “expect,” “i te ds,” “may,” “might,” “pla ,” “possible,” “pote tial,” “p edict,” “p oject,” “should,” “would” a d simila exp essio s may ide tify fo wa d-looki g stateme ts, but the abse ce of these wo ds does ot mea that a stateme t is ot fo wa d-looki g. Fo wa d-looki g stateme ts may i clude, fo example, stateme ts about the appoi tme t of adviso y cou cil membe s, the expected co t ibutio s of adviso y cou cil membe s, the Compa y’s ability to execute o its AI i f ast uctu e st ategy, a d the be efits of the eve ts o t a sactio s desc ibed i this commu icatio . These stateme ts a e based o VivoPowe ‘s ma ageme t’s cu e t expectatio s o beliefs a d a e subject to isk, u ce tai ty, a d cha ges i ci cumsta ces. Actual esults may va y mate ially f om those exp essed o implied by the stateme ts he ei due to cha ges i eco omic, busi ess, competitive a d/o egulato y facto s, a d othe isks a d u ce tai ties affecti g the ope atio of VivoPowe ‘s busi ess. These isks, u ce tai ties a d co ti ge cies i clude cha ges i busi ess co ditio s, fluctuatio s i custome dema d, cha ges i accou ti g i te p etatio s, ma ageme t of apid g owth, i te sity of competitio f om othe p ovide s of p oducts a d se vices, cha ges i ge e al eco omic co ditio s, geopolitical eve ts a d egulato y cha ges, a d othe facto s set fo th i VivoPowe ‘s fili gs with the U ited States Secu ities a d Excha ge Commissio . The i fo matio set fo th he ei should be ead i light of such isks. VivoPowe is u de o obligatio to, a d exp essly disclaims a y obligatio to, update o alte its fo wa d-looki g stateme ts whethe as a esult of ew i fo matio , futu e eve ts, cha ges i assumptio s o othe wise.
