ESGL Holdings Shareholders Approve Business Combination With De Tomaso Automobili At June 10 EGM

Benzinga·06/13/2025 12:07:48

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ESGL Holdings Limited (NASDAQ:ESGL) ("ESGL" or the "Company"), a leading provider of sustainable waste management and circular chemical solutions, today announced that its shareholders have voted to approve all proposals presented at the Extraordinary General Meeting ("EGM") held on June 10, 2025, relating to the Company's proposed business combination with De Tomaso Automobili, the iconic Italian luxury performance car brand.

All proposals related to the business combination were duly approved by ESGL shareholders, including:

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 name of publicly traded entity
Proposal No. 4: Adoption of a revised charter to reflect the future-forward structure of the combined company
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.

The Company continues to work closely with Nasdaq and relevant parties to complete the listing review process and fulfill remaining closing conditions.

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