Cenntro Electric Group (CENN) has released an update.
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Cenntro Electric Group Limited is set to become a subsidiary of Cenntro Inc., a US-based entity, following the approval of a scheme of arrangement by the Supreme Court of New South Wales. This strategic move will see the company redomicile from Australia to the United States, with a planned implementation date of February 27, 2024. Shareholders of Cenntro Electric Group will be issued shares in the new holding company, Cenntro Inc., marking a significant transition in the company’s global corporate structure.
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