ESGL Holdings extends merger agreement with De Tomaso, aiming for long-term shareholder value and growth opportunities. Closing expected post-Nasdaq approval.
Quiver AI Summary
ESGL Holdings Limited has announced an extension to its merger agreement with the ultra-luxury automobile brand De Tomaso Automobili, now set to close by October 31, 2025. This extension emphasizes both companies' commitment to finalizing the merger, which is currently under review by Nasdaq, with completion expected soon after approval. ESGL CEO Quek Leng Chuang highlighted the merger's potential for long-term shareholder value, while De Tomaso CEO Norman Choi affirmed the partnership's intent to evolve into a strong public company. The merger aims to unlock new growth opportunities for both entities.
Potential Positives
- The extension of the merger agreement with De Tomaso demonstrates the ongoing commitment of both ESGL and De Tomaso to complete the business combination, which can enhance investor confidence.
- Completion of the merger is anticipated to deliver long-term shareholder value, positioning ESGL for potential growth opportunities as a combined entity.
- The merger represents a strategic move into the luxury performance automobile sector, which could diversify ESGL's portfolio and attract a new customer base.
Potential Negatives
- The extension of the merger agreement may suggest regulatory or operational delays, which could raise concerns among investors about the company’s ability to execute strategic objectives timely.
- The announcement heavily relies on "forward-looking statements," indicating uncertainty about future performance and potential risks, which may deter investor confidence.
- The unspecified Nasdaq review process could imply potential challenges or complications in receiving the necessary approvals for the merger, casting doubt on the stability of the transaction.
FAQ
What is the merger agreement extension about?
ESGL Holdings has extended its merger agreement with De Tomaso Automobili, reflecting a commitment to complete the business combination.
When is the new long stop date for the merger?
The revised long stop date for the merger agreement is set for October 31, 2025.
What is the status of the merger review process?
The merger is currently in the later stages of Nasdaq review, with closing anticipated after Nasdaq approval.
What opportunities does this merger provide?
The merger aims to unlock new growth opportunities and deliver long-term shareholder value for both companies.
Who are the key executives involved in the merger?
Quek Leng Chuang is the CEO of ESGL, while Norman Choi is the CEO of De Tomaso Automobili, both driving this merger forward.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ESGL Hedge Fund Activity
We have seen 1 institutional investors add shares of $ESGL stock to their portfolio, and 1 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HRT FINANCIAL LP removed 14,728 shares (-57.0%) from their portfolio in Q2 2025, for an estimated $46,393
- UBS GROUP AG added 1,094 shares (+inf%) to their portfolio in Q2 2025, for an estimated $3,446
- GEODE CAPITAL MANAGEMENT, LLC added 0 shares (+0.0%) to their portfolio in Q2 2025, for an estimated $0
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SINGAPORE, Sept. 08, 2025 (GLOBE NEWSWIRE) -- ESGL Holdings Limited (NASDAQ: ESGL) ("ESGL"), a sustainability-focused holding company, today announced that it has extended the term of the merger agreement with De Tomaso Automobili (“De Tomaso”), a heritage ultra-luxury performance automobile brand. The extension underscores the continued commitment of both parties to completing the proposed business combination. The updated term of the merger agreement reflects a revised long stop date of 31 October 2025 .
The merger is currently in the later stages of Nasdaq review, with the closing anticipated to occur promptly following Nasdaq approval.
“We remain fully aligned with De Tomaso and are jointly committed to closing this transformative merger,” said Quek Leng Chuang , Chief Executive Officer of ESGL. “This business combination represents a unique opportunity to deliver long-term shareholder value.”
“De Tomaso stands behind our partnership with ESGL,” said Norman Choi , Chief Executive Officer of De Tomaso Automobili. “This extension reflects our mutual commitment to complete the merger and build a strong, value-driven public company together.”
The extended term of the merger agreement reflects the intent of both parties to proceed to closing and unlock new growth opportunities as a combined entity.
About De Tomaso Automobili
Founded in 1959 by Alejandro de Tomaso, De Tomaso is a historic Italian luxury sports car manufacturer known for iconic models such as the Pantera, Mangusta, and Vallelunga. Revived in recent years under new ownership, De Tomaso is committed to artisanal, coachbuilt manufacturing and producing limited-run vehicles that blend classic design with modern performance.
About ESGL Holdings Limited
ESGL Holdings Limited is a Singapore-based carbon-neutral enviro-tech company dedicated to transforming industrial waste into circular products. With a commitment to sustainable waste management solutions, ESGL is a leading player in the environmental solutions industry. ESGL conducts all its operations through its operating entity incorporated in Singapore, Environmental Solutions (Asia) Pte. Ltd. For more information, including the Company’s filings with the SEC, please visit https://esgl.asia .
Investor Relations Contact:
ESGL Holdings Limited
Investor Relations Department
Email:
[email protected]
Phone: +65 6653 2299
Forward-Looking Statements
Certain statements in this press release may be considered to contain certain “forward-looking statements” within the meaning of “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,” “believe,” “expect,” “will,” “shall,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” “forecast,” “intend,” “plan,” “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on ESGL management’s current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
A further list and description of risks and uncertainties can be found in documents filed with the Securities and Exchange Commission (“SEC”) by ESGL and other documents that we may file or furnish with the SEC, which you are encouraged to read. Any forward-looking statement made by us in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise, except as required by law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e90beb18-267b-4196-b890-3a49b48f9a2a
