- ESGL Holdings Limited (ESGL, Financial) proposes a merger with De Tomaso Automobili to transition into the luxury automotive sector.
- The shareholder vote on the merger is scheduled for June 10, 2025, with eligibility based on shareholder records as of May 2, 2025.
- Upon successful merger, ESGL will be renamed OIO Holdings Limited and trade under new ticker symbols "OIO" and "OIOWW".
ESGL Holdings Limited (ESGL), a leader in sustainable circular solutions, recently filed a proxy statement with the U.S. Securities and Exchange Commission regarding its proposed business combination with De Tomaso Automobili Holdings, a renowned luxury performance car manufacturer. This strategic move is set to broaden ESGL's industrial sustainability focus into the ultra-luxury automotive sector, leveraging De Tomaso’s iconic brand known for its P72 and P900 hypercars.
The Extraordinary General Meeting (EGM) to vote on the merger will occur on June 10, 2025. Key proposals include expanding authorized share capital to facilitate the merger, potential share consolidation to meet Nasdaq's minimum bid price requirements, a company name change to OIO Holdings Limited, and the adoption of a revised charter to reflect the combined company's future structure.
The proposed merger aims to create a powerful synergy between ESGL’s sustainability ethos and De Tomaso's premium brand in the luxury car market. Following the merger's completion, ESGL will rebrand as OIO Holdings Limited, with shares expected to trade on Nasdaq under the new tickers "OIO" for ordinary shares and "OIOWW" for warrants. Shareholders of record as of May 2, 2025, are eligible to vote on these transformative proposals.
The production-spec De Tomaso P72 is currently showcased at Miller Motorcars in Greenwich, Connecticut, available for invite-only viewings, symbolizing readiness and exclusivity. This merger holds promise for unlocking long-term shareholder value and enhancing market visibility through Nasdaq’s platform.
