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Cenntro Electric | 8-K: Current report

SEC announcement · Jan 31 17:29

CENN +1.39%

Summary by Moomoo AI

On January 31, 2024, Cenntro Electric Group Limited, a leading electric vehicle technology company, announced the rescheduling of a second court hearing with the Supreme Court of New South Wales, Australia. The hearing, initially set for February 1, 2024, has been moved to February 14, 2024, to allow the court to consider the company's proposed scheme of arrangement. This scheme involves Cenntro Electric's redomiciliation from Australia to the United States, where it will become a subsidiary of a new U.S. company, Cenntro Inc., incorporated in Nevada. The rescheduling was necessitated by a delay in finalizing voting results from a shareholder meeting due to administrative processing times by third-party intermediaries. The scheme meeting, held on January 24, 2024, is expected to have approved the redomiciliation based on preliminary voting results. The updated timetable for the scheme's implementation includes the second court hearing on February 14, 2024, the lodgment of court orders with the Australian Securities and Investments Commission on February 15, 2024, and the scheme's expected implementation on February 27, 2024. Shareholders have the right to oppose the scheme at the upcoming court hearing, and any changes to the timetable will be announced by Cenntro and published on its website.

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