Charisma Energy Services (SG:5QT) has released an update.
Charisma Energy Services Limited has announced a new scheme arrangement following the sale of its 80% stake in Yichang Smartpower Green Electricity Co., Ltd., which involves distributing the majority of the net proceeds to certain creditors. Additionally, installment payments from the sale are part of the company’s restructuring plans, which include resuming trading of its shares and a capital injection. A new subsidiary, CES Yichang Pte Ltd, will be established to manage the rights to the sale’s receivables.
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