ESGL and De Tomaso Extend Term of Merger Agreement, Reaffirming Commitment to Business Combination
ESGL Holdings (NASDAQ: ESGL) and De Tomaso Automobili have announced an extension of their merger agreement term, setting a new deadline of October 31, 2025. The merger, currently in advanced stages of Nasdaq review, represents a strategic combination between the sustainability-focused holding company and the heritage ultra-luxury performance automobile brand.
Both companies' CEOs have reaffirmed their commitment to completing the business combination, with ESGL's CEO Quek Leng Chuang emphasizing the merger's potential for long-term shareholder value creation. The transaction is expected to close promptly following Nasdaq approval.
ESGL Holdings (NASDAQ: ESGL) e De Tomaso Automobili hanno annunciato un prolungamento del termine previsto per la loro fusione, fissando la nuova scadenza al 31 ottobre 2025. La fusione, attualmente in fase avanzata di revisione da parte del Nasdaq, unisce una holding orientata alla sostenibilità con un marchio storico di automobili ultra-lusso ad alte prestazioni.
I CEO di entrambe le società hanno ribadito l’impegno a portare a termine l’operazione, con Quek Leng Chuang, CEO di ESGL, che ha sottolineato il potenziale dell’intesa per creare valore per gli azionisti nel lungo periodo. L’operazione è prevista per concludersi rapidamente dopo l’approvazione del Nasdaq.
ESGL Holdings (NASDAQ: ESGL) y De Tomaso Automobili han anunciado una prórroga del plazo de su acuerdo de fusión, estableciendo como nueva fecha límite el 31 de octubre de 2025. La fusión, que se encuentra en una etapa avanzada de revisión por parte del Nasdaq, supone la combinación estratégica entre una holding centrada en la sostenibilidad y una marca histórica de automóviles ultra‑lujo y alto rendimiento.
Los directores ejecutivos de ambas compañías han reafirmado su compromiso de completar la unión, y Quek Leng Chuang, CEO de ESGL, ha destacado el potencial de la operación para generar valor a largo plazo para los accionistas. Se espera que la transacción se cierre poco después de la aprobación del Nasdaq.
ESGL Holdings (NASDAQ: ESGL)와 De Tomaso Automobili는 합병 계약 기한을 연장해 새로운 마감일을 2025년 10월 31일로 설정했다고 발표했습니다. 해당 합병은 현재 나스닥의 심사에서 고도화 단계에 있으며, 지속가능성에 초점을 둔 지주회사와 전통 있는 울트라 럭셔리 고성능 자동차 브랜드의 전략적 결합을 의미합니다.
양사 CEO는 거래 완료에 대한 의지를 재확인했으며, ESGL의 CEO인 Quek Leng Chuang은 이번 합병이 장기적으로 주주 가치를 창출할 잠재력이 있다고 강조했습니다. 거래는 나스닥 승인 직후 신속히 마무리될 것으로 예상됩니다.
ESGL Holdings (NASDAQ: ESGL) et De Tomaso Automobili ont annoncé une prolongation du délai de leur accord de fusion, fixant une nouvelle échéance au 31 octobre 2025. La fusion, qui est actuellement en phase avancée d’examen par le Nasdaq, représente une alliance stratégique entre la holding axée sur la durabilité et la marque historique de voitures ultra‑luxe à haute performance.
Les PDG des deux sociétés ont réaffirmé leur volonté de finaliser l’opération, Quek Leng Chuang, PDG d’ESGL, soulignant le potentiel de la fusion pour créer de la valeur à long terme pour les actionnaires. La transaction devrait être conclue rapidement après l’approbation du Nasdaq.
ESGL Holdings (NASDAQ: ESGL) und De Tomaso Automobili haben eine Verlängerung der Laufzeit ihres Fusionsvertrags bekannt gegeben und eine neue Frist auf den 31. Oktober 2025 festgelegt. Die Fusion befindet sich derzeit in einem fortgeschrittenen Prüfungsstadium durch die Nasdaq und stellt eine strategische Verbindung zwischen der auf Nachhaltigkeit ausgerichteten Holding und der traditionsreichen Ultra‑Luxus‑Performance‑Automarke dar.
Die CEOs beider Unternehmen bekräftigten ihre Absicht, die Zusammenführung abzuschließen. Quek Leng Chuang, CEO von ESGL, hob das Potenzial des Deals hervor, langfristig Wert für die Aktionäre zu schaffen. Nach Nasdaq‑Zulassung soll die Transaktion zügig abgeschlossen werden.
- Merger is in final stages of Nasdaq review, indicating progress towards completion
- Strategic combination of sustainability focus with luxury automotive brand
- Both companies' management teams remain committed to the deal
- Extended merger deadline suggests potential delays in closing
- Lack of specific financial terms or valuation details
- Regulatory approval from Nasdaq still pending
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: ir@esgl.asia
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
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