ESGL Shareholders Approve De Tomaso Automobili Business Combination Proposals

ESGL Holdings has secured shareholder approval for its proposed business combination with De Tomaso Automobili. All proposals, including expansion of authorized share capital and a name change, were approved. The deal remains subject to Nasdaq approval and other customary closing conditions. The combination aims to unlock new growth opportunities and drive long-term shareholder value.

ESGL Holdings Limited (NASDAQ: ESGL), a leading provider of sustainable waste management and circular chemical solutions, has secured shareholder approval for its proposed business combination with De Tomaso Automobili. The approval comes after the company successfully received support for the expansion of its authorized share capital and a name change. The deal, which remains subject to Nasdaq approval and other customary closing conditions, aims to unlock new growth opportunities and drive long-term shareholder value.

The business combination, previously announced, is progressing through the required regulatory and shareholder approval processes. Upon completion, the combination is expected to enhance ESGL’s portfolio and long-term growth strategy. The deal is a significant step forward for ESGL, which has been focused on transforming waste into high-value circular products while emphasizing a low-carbon and resource-efficient future.

In a related development, ESGL's Chairman and CEO, Mr. Quek Leng Chuang, has increased his ownership in the company to approximately 8.2% by acquiring 336,134 ordinary shares at an average price of $2.25 per share. This acquisition reflects Mr. Quek's confidence in the company's long-term strategy and performance, underscoring ESGL’s commitment to aligning leadership interests with shareholder value creation [1].

The company continues to emphasize the uncertainties and risks associated with the proposed business combination. Forward-looking statements included in the press release highlight potential challenges that could affect the company's future performance. These statements underscore the importance of investors being cautious and well-informed about the risks involved [2].

ESGL Holdings Limited is a Singapore-based leader in sustainable circular solutions for the chemicals, electronics, and manufacturing sectors. Through its proprietary technology and ESG-first strategy, ESGL transforms waste into high-value circular products, enabling a low-carbon and resource-efficient future.

References:
[1] https://www.nasdaq.com/articles/esgl-holdings-limited-chairman-acquires-additional-shares-amid-ongoing-business
[2] https://www.globenewswire.com/news-release/2025/06/09/3095884/0/en/ESGL-Chairman-and-CEO-Increases-Ownership-to-8-2-Through-2-25-Per-Share-Acquisitions.html