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ESGL Files Proxy Statement for Proposed Business Combination with De Tomaso Automobili
Globenewswire· 2025-05-23 13:00
Core Viewpoint - ESGL Holdings Limited is pursuing a business combination with De Tomaso Automobili to enhance long-term shareholder value through the acquisition of a prestigious luxury performance brand [1]. Group 1: Business Combination Details - The Extraordinary General Meeting (EGM) for voting on the proposals related to the business combination is scheduled for June 10, 2025 [2]. - Upon completion, ESGL will be renamed OIO Holdings Limited and will trade on Nasdaq under the new tickers "OIO" for ordinary shares and "OIOWW" for warrants [2]. Group 2: Strategic Importance - De Tomaso's P72 and P900 hypercars are in high demand among top-tier collectors, indicating strong financial performance potential due to limited production and high pricing power [3]. - The acquisition represents a strategic expansion for ESGL from industrial sustainability into the ultra-luxury consumer sector [3]. - The structure of the combined company is designed for growth, featuring long-term shareholder alignment and performance-based earnouts [3]. Group 3: Company Backgrounds - ESGL Holdings Limited specializes in sustainable circular solutions across chemicals, electronics, and manufacturing sectors, focusing on transforming waste into high-value products [5]. - De Tomaso Automobili, founded in 1959, is known for its blend of Italian design and motorsport heritage, aiming to create emotionally resonant vehicles for a new generation [6].
De Tomaso launches €1.6m P72 Luxury Hypercar as ESGL Business Combination Nears Completion
Globenewswire· 2025-05-16 12:30
Core Insights - The unveiling of the production specification De Tomaso P72 highlights the brand's strength and readiness for commercial operations as the merger with ESGL Holdings approaches completion [1][4] - The P72, featuring a carbon fibre chassis and a 5.0L supercharged V8 engine, emphasizes a return to mechanical design and driver-focused engineering [2] - The launch of the P72 is seen as a significant commercial catalyst, indicating De Tomaso's readiness to scale operations [4] Company Overview - ESGL Holdings Limited is a leader in sustainable circular solutions, focusing on transforming waste into high-value products for various sectors [6] - De Tomaso Automobili, founded in 1959, combines Italian design with motorsport heritage and aims to create emotionally resonant vehicles for enthusiasts [7] Product Details - The P72 was initially revealed as a concept in 2019 and is now ready for customer deliveries expected in late 2025 [3] - The production vehicle showcases the final engineering, design, and build quality that De Tomaso aims to deliver at scale [3] Market Engagement - The P72 is currently available for exclusive viewings at Miller Motorcars in Connecticut, with limited public displays planned [5] - The launch has garnered significant media attention, with features in prominent automotive publications highlighting its design and engineering [6]