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Elektromotive gets nod to sell charging business, change name to Arion Entertainment

Friday, December 16, 2016 - 18:46

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CATALIST-LISTED Elektromotive Group got the green light from shareholders at an extraordinary general meeting on Friday to change its business and its name.

CATALIST-LISTED Elektromotive Group got the green light from shareholders at an extraordinary general meeting on Friday to change its business and its name.

Shareholders present and voting approved the sale of its 55 per cent stake in its electric vehicle charging business, according to its Singapore Exchange filing Friday afternoon.

They also voted to change the company's name to "Arion Entertainment Singapore Limited". Elektromotive said it could only change its name after completing the sale of the stake.

The total number of shares represented by votes at the meeting was about 1.03 billion. The company has about 2.44 billion shares outstanding.

sentifi.com

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