Cenntro Electric Group (CENN) has released an update.
Cenntro Electric Group Limited has postponed a court hearing to February 14, 2024, for the Supreme Court of New South Wales to review its scheme of arrangement, where the company plans to redomicile from Australia to the United States and become a subsidiary of a new U.S. entity, Cenntro Inc. Shareholders may attend and oppose the scheme at the hearing. If approved, the scheme is expected to take effect on February 15, 2024, following court order registration with the ASIC, with full implementation slated for February 27, 2024. Dates are subject to change and will be communicated accordingly.
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For a comprehensive understanding of the announcement, you can read the full document here.
