Charisma Energy Concludes Yichang Equity Disposal

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

Charisma Energy Services Limited has successfully completed the sale of its entire 80% equity interest in Yichang to Smartpower Technology (Shanghai) Co., Ltd., also transferring a shareholder’s loan. The disposal proceeds will be distributed to certain creditors and REPS Holders under an April 2023 Scheme, with the completion also marking the end of the Company’s liabilities related to Yichang. A supplementary scheme has been approved by indicative votes to modify the original scheme of arrangement following the disposal terms.

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