On February 27, 2024, Cenntro Electric Group Limited, previously incorporated in Australia, completed its redomiciliation to the United States, becoming a subsidiary of Cenntro Inc., a Nevada corporation. This strategic move was executed under a statutory scheme of arrangement in accordance with Australian law, allowing for the exchange of all issued ordinary shares of Cenntro Electric Group Limited for newly issued shares of common stock in Cenntro Inc. on a one-for-one basis. The redomiciliation resulted in Cenntro Inc. becoming the successor issuer to Cenntro Electric Group Limited, with the common stock continuing to trade on NASDAQ under the ticker symbol 'CENN'. The company's common stock began trading on NASDAQ on the implementation date, and the new CUSIP number for...Show More

On February 27, 2024, Cenntro Electric Group Limited, previously incorporated in Australia, completed its redomiciliation to the United States, becoming a subsidiary of Cenntro Inc., a Nevada corporation. This strategic move was executed under a statutory scheme of arrangement in accordance with Australian law, allowing for the exchange of all issued ordinary shares of Cenntro Electric Group Limited for newly issued shares of common stock in Cenntro Inc. on a one-for-one basis. The redomiciliation resulted in Cenntro Inc. becoming the successor issuer to Cenntro Electric Group Limited, with the common stock continuing to trade on NASDAQ under the ticker symbol 'CENN'. The company's common stock began trading on NASDAQ on the implementation date, and the new CUSIP number for the common stock is 150964104. The redomiciliation does not affect the trading of shares on NASDAQ, and the company's common stock remains tradable under the same ticker symbol. The company's board of directors now consists of five directors, including the CEO and four independent directors, with the board determining that this number is appropriate for the company. The board has also established an Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, with charters for each committee available on the company's website. In connection with the redomiciliation, the company's board approved amended and restated articles of incorporation and bylaws, and adopted a new code of ethics and business conduct. The company also announced the implementation of the scheme and the completion of the redomiciliation through a press release on February 26, 2024.