Cenntro Electric announces imminent implementation of scheme of arrangement

Cenntro Electric Group Limited announced that the proposed scheme of arrangement in relation to which Cenntro will redomicile from Australia to the United States, and under which Cenntro will become a subsidiary of Cenntro Inc., a corporation incorporated in accordance with the laws of the state of Nevada will be implemented on February 27, in accordance with the previously announced timeline. On the Implementation Date, HoldCo will acquire all of the issued ordinary shares of Cenntro and exchange them for shares of common stock of HoldCo on a 1:1 basis. Implementation of the Scheme will not affect trading of shares on Nasdaq under ticker symbol “CENN“.