Charisma Energy Advances with Yichang Equity Transfer

Charisma Energy Services (SG:5QT) has released an update.

Charisma Energy Services has announced shareholder approval for the equity transfer agreement of Yichang, with 80.0% equity and a shareholder loan being acquired by Smartpower Technology. Additionally, the company is modifying its April 2023 Scheme through a Supplementary Scheme to adjust debt settlement terms following the Yichang disposal. They are also negotiating amendments with holders of redeemable exchangeable preference shares to settle outstanding arrangements.

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