Jumps on board approval to spin off EV charging unit

SPI Energy Co

27/10/2020 13:48

** Shares of renewable energy co  SPI.O  up 18.3% to $9.41
in early trade, hitting their highest level in ~1-1/2 weeks 
    ** Board approves co's plan to spin off its Solar Juice Co.,
Ltd unit via an initial public offering  urn:newsml:reuters.com:*:nACSSY3JWa
    ** SPI Energy will retain majority ownership of Solar Juice
after the spin off 
    ** Solar Juice sells solar panels, solar inverters, EV
charger to residential and small commercial markets, targeting
Asia pacific and American region
    ** SPI also says it has entered a settlement deed with the
minority stockholders of Solar Juice Pty Ltd, its 80% owned
Australian unit
    ** As a result of this settlement, SPI says, the related
legal proceedings have been dismissed 
    ** Shares up more than 400% for the year, including
session's moves

 (Reporting by Aaron Saldanha)
 ((Aaron.Saldanha@thomsonreuters.com; +91 9810644993; Reuters
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net))