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LONDON - VivoPower International PLC (NASDAQ:VVPR), a $62.7 million market cap company that has seen its stock surge over 366% year-to-date, announced Thursday the appointment of David Mansfield as Chief Financial Officer and Keith Loose as Chief Technology Officer, along with the addition of Suneet Wadhwa to its Board of Advisors. According to InvestingPro data, the company maintains impressive gross profit margins of nearly 75%.
Mansfield brings over 25 years of financial leadership experience, most recently serving as CFO at electric vehicle manufacturer VinFast, where he helped lead the company to a $23 billion NASDAQ IPO. His previous roles include managing director positions at J.P. Morgan, Credit Suisse, and Goldman Sachs.
Loose joins with more than 20 years of experience in enterprise technology, blockchain, and infrastructure architecture. He previously held technology leadership positions at Block Inc, Block.one, OSL Group, CLSA, and J.P. Morgan.
Wadhwa, formerly Head of Investments at Ripple, will focus on developing VivoPower’s decentralized finance strategy. At Ripple, he managed a $500 million investment portfolio that delivered a 4.2x multiple on invested capital and 77% internal rate of return across 38 global investments.
VivoPower, listed on NASDAQ since 2016, describes itself as undergoing a strategic transformation to become "the world’s first XRP-focused digital asset enterprise." The company states it aims to contribute to the growth of the XRP Ledger through supporting decentralized finance infrastructure and blockchain applications. InvestingPro analysis indicates the company is currently trading above its Fair Value, with notable financial challenges including rapid cash burn and potential difficulties meeting debt obligations. For deeper insights into VivoPower’s financial health and 12 additional exclusive ProTips, consider exploring InvestingPro’s comprehensive analysis tools.
The company operates globally with a presence across the United Kingdom, Australia, North America, Europe, the Middle East, and Southeast Asia, according to the press release statement. With its stock showing high price volatility and a beta of 1.06, InvestingPro subscribers can access detailed risk metrics and valuation models to better understand the company’s market position and growth potential.
In other recent news, VivoPower International PLC has announced a strategic partnership with BitGo to enhance its digital asset treasury strategy. This collaboration involves the use of BitGo’s over-the-counter trading desk and custody platform for VivoPower’s initial $100 million acquisition of XRP tokens. Additionally, VivoPower is evaluating a revised $200 million bid from Energi Holdings Limited for a 51% stake in its subsidiary, Tembo e-LV B.V. The proposed acquisition reflects an increase from a previous valuation and aims to integrate Tembo with Cactus Acquisition Corp. 1 Limited. Furthermore, VivoPower has set June 12, 2025, as the ex-dividend date for potential special dividends related to Tembo, emphasizing that shareholders on record by June 13, 2025, will qualify for any distributions. The company is also collaborating with Flare Network to generate yield on its XRP holdings, marking a significant step in its XRP-centric corporate strategy. These developments are part of VivoPower’s ongoing strategic initiatives to optimize its capital structure and maximize shareholder value.
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