Trending...
- "One World in a New World" Amplifies Voices of Transformation, Resilience, and Global Connection
- Genpak Expands Foodservice Packaging to Include Durable, Polypropylene Bowls
- NuNorm Announces Stop Soldier Suicide as This Year's EQUAL Grant Recipient
FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN) ("Cenntro" or "the Company"), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, refers to the proposed scheme of arrangement in relation to which Cenntro will re-domicile from Australia to the United States ("U.S.", the "Scheme"), and under which Cenntro will become a subsidiary of Cenntro Inc., a corporation incorporated in accordance with the laws of the state of Nevada for the purpose of effecting the Scheme.
Cenntro is pleased to announce that the Supreme Court of New South Wales, Australia (the "Court") made orders approving the proposed Scheme on Friday, February 16, 2024 (Australian Eastern Daylight Time, "AEDT").
Cenntro further confirms that it has today lodged an office copy of the orders made by the Court approving the Scheme with the Australian Securities and Investments Commission ("ASIC") pursuant to sub-section 411(10) of the Corporations Act 2001 (Cth), as a result of which the Scheme is now legally effective.
An office copy of the Court orders lodged with ASIC is attached at Annexure A to this press release.
Eligible Cenntro shareholders who hold Cenntro ordinary shares of the Company as at 7:00pm (AEDT) on Thursday, February 22, 2024 (the "Record Date") will receive one share of common stock in Cenntro Inc. in exchange for every one ordinary share of the Company which such eligible Cenntro shareholder held as of the Record Date.
Next steps
An indicative timetable of the key milestones remaining under the Scheme is set out below:
More on Jersey Desk
*All dates and times listed in the table above are in AEDT and are indicative only and subject to change. Cenntro, in consultation with Cenntro Inc., may vary any or all of these dates and times and will provide reasonable notice of any such variation. Any changes will be announced by Cenntro to Nasdaq and published on Cenntro's website at www.cenntroauto.com.
About Cenntro Electric Group Ltd.
Cenntro Electric Group Ltd. (NASDAQ: CENN) is a leading maker and provider of electric commercial vehicles ("ECVs"). Cenntro's purpose-built ECVs are designed to serve a variety of commercial applications inclusive of its line of class 1 to class 4 trucks. Cenntro is building a globalized supply-chain, as well as the manufacturing, distribution, and service capabilities for its innovative and reliable products. Cenntro continues to evolve its products capabilities through advanced battery, powertrain, and smart driving technologies. For more information, please visit Cenntro's website at: http://www.cenntroauto.com/.
More on Jersey Desk
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may,'' "believe,'' "anticipate,'' "could,'' "should,'' "intend,'' "plan,'' "will,'' "aim(s),'' "can,'' "would,'' "expect(s),'' "estimate(s),''"project(s),'' "forecast(s)'', "positioned,'' "approximately,'' "potential,'' "goal,'' "strategy,'' "outlook'' and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro's forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 10K/A filed with the Securities and Exchange Commission on July 6, 2023 and which may be viewed at www.sec.gov.
Contacts
Investor Relations Contact:
Chris Tyson
MZ North America
CENN@mzgroup.us
949-491-8235
Company Contact:
PR@cenntroauto.com
IR@cenntroauto.com
Cenntro is pleased to announce that the Supreme Court of New South Wales, Australia (the "Court") made orders approving the proposed Scheme on Friday, February 16, 2024 (Australian Eastern Daylight Time, "AEDT").
Cenntro further confirms that it has today lodged an office copy of the orders made by the Court approving the Scheme with the Australian Securities and Investments Commission ("ASIC") pursuant to sub-section 411(10) of the Corporations Act 2001 (Cth), as a result of which the Scheme is now legally effective.
An office copy of the Court orders lodged with ASIC is attached at Annexure A to this press release.
Eligible Cenntro shareholders who hold Cenntro ordinary shares of the Company as at 7:00pm (AEDT) on Thursday, February 22, 2024 (the "Record Date") will receive one share of common stock in Cenntro Inc. in exchange for every one ordinary share of the Company which such eligible Cenntro shareholder held as of the Record Date.
Next steps
An indicative timetable of the key milestones remaining under the Scheme is set out below:
More on Jersey Desk
- Los Angeles Fires: Supporting Recovery Without Psychotropic Drug Risks
- Pyrrhic Press Publishing Revives the Historic Acta Eruditorum
- NJ Resilient Environments (REAL) Discussed Jan 31
- "Global Accreditation Failures: How the Wuhan Lab Certification Exposed Systemic Weaknesses and Paved the Way for COVID-19"
- Get to know Dr. Raphael E. Cuomo, PhD, Professor and Scientist at the University of California, San Diego
Expected date* | Event |
Thursday, February 22, 2024 at 7:00pm | Record Date – being the time and date for determining entitlements to Scheme consideration |
Tuesday, February 27, 2024 | Implementation date – being the date on which the Scheme will be implemented and Cenntro shareholders will receive the Scheme consideration which they are entitled to |
Thursday, February 29, 2024 | Commencement of dispatch to Eligible Cenntro shareholders of statements confirming the issue of common stock in Cenntro Inc. |
*All dates and times listed in the table above are in AEDT and are indicative only and subject to change. Cenntro, in consultation with Cenntro Inc., may vary any or all of these dates and times and will provide reasonable notice of any such variation. Any changes will be announced by Cenntro to Nasdaq and published on Cenntro's website at www.cenntroauto.com.
About Cenntro Electric Group Ltd.
Cenntro Electric Group Ltd. (NASDAQ: CENN) is a leading maker and provider of electric commercial vehicles ("ECVs"). Cenntro's purpose-built ECVs are designed to serve a variety of commercial applications inclusive of its line of class 1 to class 4 trucks. Cenntro is building a globalized supply-chain, as well as the manufacturing, distribution, and service capabilities for its innovative and reliable products. Cenntro continues to evolve its products capabilities through advanced battery, powertrain, and smart driving technologies. For more information, please visit Cenntro's website at: http://www.cenntroauto.com/.
More on Jersey Desk
- Ohio Medicare (Plan Brian C. Moore), has once again been distinguished as Ohio's Top-Ranked and Number-One-Rated "Best Choice" Medicare Expert!
- Manchester Insurance Announces Best Rates in Florida for Home Insurance
- New Middle East Partnership for up to $40 Million Supporting Entry Into Emerging Global MOBA Digital Game Arena: NIP Group (Stock Symbol: NIPG)
- King Dumpsters Canton Launches Affordable, Reliable Dumpster Rental Services in Canton, Ohio
- Matthew Cossolotto's The Joy of Public Speaking – Helping Readers Move from Stage Fright to Stage Delight – Wins 2024 Maincrest Media Book Award
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may,'' "believe,'' "anticipate,'' "could,'' "should,'' "intend,'' "plan,'' "will,'' "aim(s),'' "can,'' "would,'' "expect(s),'' "estimate(s),''"project(s),'' "forecast(s)'', "positioned,'' "approximately,'' "potential,'' "goal,'' "strategy,'' "outlook'' and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro's forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 10K/A filed with the Securities and Exchange Commission on July 6, 2023 and which may be viewed at www.sec.gov.
Contacts
Investor Relations Contact:
Chris Tyson
MZ North America
CENN@mzgroup.us
949-491-8235
Company Contact:
PR@cenntroauto.com
IR@cenntroauto.com
Filed Under: Business
0 Comments
Latest on Jersey Desk
- Cascadia Global Security Launches Cascadia Off-Duty
- Anti-Racism Song from Neal Fox Drops in Time for Martin Luther King Day
- Genpak Expands Foodservice Packaging to Include Durable, Polypropylene Bowls
- DayPass Expands to 50 New Destinations in 2024, Bringing Luxury Day Experiences to Travelers and Locals
- Consumer Finance Evolution: Industry Expert Reveals Why BNPL is Reshaping Retail in 2025
- Dr. Lauren Anderson Led a Successful CE Event: Digital Planning and Execution
- "One World in a New World" Amplifies Voices of Transformation, Resilience, and Global Connection
- BarterSaves on the GROW Again! BarterSaves Acquired Barter Brokers International
- WalkerHughes Insurance Expands Footprint With Acquisition of Independent Brokers Agency LLC
- Hawk Tuah VIP Shop launches Exclusive Merchandise line for Viral Meme Fans
- Orcas Island Property Owner Returns Two Prime Waterfront Properties to the Market
- Muench Workshops Welcomes New Partners Luke Dray and Sara Linssen, Announces Retirement of Andy Williams
- Belleville Wire Cloth to Exhibit New Products at AHR Expo 2025
- NuNorm Announces Stop Soldier Suicide as This Year's EQUAL Grant Recipient
- Darrin Jones: The Creative Force Behind the Trends—Raising Questions About Influence in The Weeknd's Music
- Foresight Practitioner Conference 2025 – Dates, Venue, Speakers, And Competition Finalists Announced
- Latest Updates to Pennsylvania Medical Malpractice and Birth Injury Law
- Best Plant Varieties for Windbreaks and Shelterbelts
- Genuine Hospitality, LLC Expands Leadership Team with Key Appointments
- Unlock The Secret To Effortlessly Powering Your Lifestyle for a Lifetime With The New Book The Financial Pinwheel Today!