ESGL Shareholders Approve De Tomaso Automobili Business Combination Proposal

ESGL Holdings Limited, a sustainable waste management and circular chemical solutions provider, has announced that its shareholders have approved all proposals for its proposed business combination with De Tomaso Automobili. The proposals include expanding authorized share capital, consolidating shares if necessary, renaming the company, adopting a revised charter, and issuing shares for acquisition. The combined company will focus on future-forward sustainable solutions.

ESGL Holdings Limited (NASDAQ: ESGL), a leading provider of sustainable waste management and circular chemical solutions, has announced that its shareholders have approved all proposals for its proposed business combination with De Tomaso Automobili. The proposals include expanding authorized share capital, consolidating shares if necessary, renaming the company, adopting a revised charter, and issuing shares for acquisition. The combined company will focus on future-forward sustainable solutions.

The Extraordinary General Meeting (EGM) held on June 10, 2025, saw shareholders vote in favor of all five proposals. This includes Proposal No. 1: Expansion of authorized share capital to facilitate the issuance of shares for the acquisition, Proposal No. 2: Share consolidation, if required, to ensure compliance with Nasdaq’s minimum bid price requirement, Proposal No. 3: Proposed name change to align the name of the publicly traded entity, Proposal No. 4: Adoption of a revised charter to reflect the future-forward structure of the combined company, and Proposal No. 5: Authority to adjourn the EGM to secure maximum shareholder support.

The closing of the business combination remains subject to Nasdaq’s approval of the continued listing application, in addition to other customary closing conditions. Quek Leng Chuang, Chairman and CEO of ESGL, commented, "We are pleased to secure strong shareholder backing as we advance this strategic combination with De Tomaso. This transaction positions us to unlock new growth opportunities, expand across industries and markets, and drive long-term shareholder value."

ESGL continues to work closely with Nasdaq and relevant parties to complete the listing review process and fulfill remaining closing conditions. Further updates will be provided as material developments occur.

Forward-looking statements in this press release include the potential benefits of the business combination. These statements are subject to inherent uncertainties and risks, and actual results may differ materially from those indicated. The full list of risks and uncertainties can be found in ESGL’s filings with the SEC.

References:
1. [ESGL Holdings Limited Announces Shareholder Approval of Business Combination with De Tomaso Automobili](https://www.streetinsider.com/Corporate+News/ESGL+Holdings+%28ESGL%29+Shareholders+Approve+All+Proposals+for+Business+Combination+with+De+Tomaso+Automobili/24933602.html)