UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF
FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES
EXCHANGE ACT OF 1934
For the month of:
September 2022
Commission File
Number: 001-38544
CENNTRO ELECTRIC GROUP LIMITED
(Translation of
registrant’s name into English)
501
Okerson Road, Freehold, New Jersey 07728
(Address of
principal executive offices)
(732)
820-6757
Registrant’s
telephone number, including area code
N/A
(Former name or
former address, if changed since last report)
Indicate by
check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐
Indicate by
check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by
check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): ☐
Departure of
Director
On September 16, 2022, Justin
Davis-Rice tendered his resignation as a member of the board of the
director (the “Board”) of Cenntro Electric Group Limited ACN 619
054 938, an Australian public company limited by shares (the
“Company”), effective immediately. Mr. Davis-Rice’s resignation as
a director is not the result of any disagreement with the Company’s
operations, policies, or procedures.
The resignation of Justin
Davis-Rice has been approved by the Nominating Committee and the
Board of Directors of the Company.
Appointment of
Director
On September 16, 2022, at the
recommendation of the Nominating Committee and Compensation
Committee of the Board approved and confirmed the appointment of
Dr. Yi Zeng with annual compensation of US$45,000 as the succeeding
director to fill in the vacancy created by Mr. Davis-Rice’s
resignation, effective immediately, until the Company’s next annual
meeting of shareholders and until his successor is duly elected and
qualified, or until his earlier death, resignation, or removal.
The Board has determined that
Dr. Zeng is an “independent” director within the meaning of Nasdaq
Listing Rule 5605(a)(2).
The biographical
information of the newly appointed director is set forth
below:
Dr. Yi Zeng,
67, Independent Director
Dr. Zeng has over 30 years’
experience in the energy industry, management, marketing and
research. From 2016 to 2017, Dr. Zeng served as a non-executive
Director of an energy company Range Resources Pty. Ltd, a former
public company that was listed on both the London and Australian
Stock Exchanges. He retired thereafter to enjoy family life.
From 2011 to 2016, Dr. Zeng served as an independent consultant for
Kori Ltd. From 2011 to 2012, he was the managing director of Lomon
Pty. Ltd. a former public company that was listed on the Australian
Stock Exchange. From 2007-2009, Dr. Zeng was the Asia Pacific
Regional Marketing Manager of Titanium, BHP Billiton Shanghai, a
global energy and mining company. Prior to that Dr. Zeng served as
a Principle and Senior Scientist at BHP Exploration & Mining
Technology in Melbourne, Australia from 2000 to 2007. Dr. Yi Zeng
holds a Ph.D. in Geophysics from Victoria University of Wellington,
New Zealand; an MSc in Applied Geophysics Exploration from Chengdu
College of Geology, China; and a BSc in Geophysical Exploration
from Chengdu University of Technology, China. The Company believes Dr. Zeng’s extensive
experience in management, technical, and research with
global and Australian-based companies makes him well suited to serve as a member
of the Board.
There are no family relationships
between Dr. Zeng and any other employees or members of the Board of
Directors of the Company. He has
not been involved in any transaction with the Company during the
past two years that would require disclosure under Item 404(a) of
Regulation S-K.
Dr. Zeng accepted
an offer letter from the Company and agreed to receive an annual
compensation of $45,000. The offer letter is qualified in its
entirety by reference to the complete text of the agreement, which
is filed hereto as Exhibits 10.1.
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Exhibit
No.
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Description
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Director Offer Letter to Dr. Yi
Zeng
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Press Release
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
| Dated:
September 16, 2022 |
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Cenntro
Electric Group Limited
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By:
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/s/ Peter Wang
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Name:
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Peter Wang
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Title:
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Chief Executive Officer
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