OIO Group Announces Post-Closing Shares Outstanding Following Business Combination

Rhea-AI Summary

OIO Group (Nasdaq: OIO) announced completion of its business combination with De Tomaso Automobili Holdings and the post-closing capital structure. The company completed a 1-for-3 reverse stock split effective April 24, 2026, and its ordinary shares began trading on Nasdaq on a split-adjusted basis.

Following closing and the reverse split, OIO has 348,022,108 ordinary shares issued and outstanding, reflecting consideration shares issued to De Tomaso shareholders and not new financing.

Positive

• Business combination with De Tomaso completed on April 24, 2026
• Ordinary shares commenced trading on Nasdaq Capital Market on a split-adjusted basis
• Post-closing shares outstanding reported as 348,022,108

Negative

• Issued consideration shares increased total outstanding shares to 348,022,108, diluting legacy holders' percentage ownership

Market Context

This announcement formalizes key mechanics of the De Tomaso combination, confirming a 1-for-3 revers...

Analysis

This announcement formalizes key mechanics of the De Tomaso combination, confirming a 1-for-3 reverse stock split and a post-closing share count of 348,022,108 ordinary shares. It follows earlier steps such as the name and ticker change and prior collaboration agreements. Investors may focus on how the larger share base and new corporate profile translate into operating performance, integration progress with De Tomaso, and future disclosure on strategy and financials for the combined business.

Key Figures

Reverse stock split ratio: 1-for-3 Shares outstanding: 348,022,108 ordinary shares Business combination closing date: April 24, 2026

3 metrics

Reverse stock split ratio 1-for-3 Share consolidation effective April 24, 2026

Shares outstanding 348,022,108 ordinary shares Post-closing and post-split share count

Business combination closing date April 24, 2026 Completion date of De Tomaso transaction

Historical Context

4 past events · Latest: 2026-03-09 (Neutral)

Pattern 4 events

Date	Event	Sentiment	24h Move	Catalyst
2026-03-09	Name and ticker change	Neutral	-0.3%	Corporate rebranding to OIO Group and ticker change to OIO.
2026-02-10	Litigation outcome	Positive	-0.6%	Unanimous jury verdict in favor of De Tomaso and owner Norman Choi.
2026-01-16	R&D collaboration	Neutral	+0.0%	Launch of exploratory joint program on CNT-based sustainable automotive materials.
2025-11-26	Strategic MOU	Positive	+2.4%	Non-binding MOU on a carbon-neutral luxury race circuit in Bintan.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news tied to De Tomaso and strategic evolution often produced modest, mixed price reactions, with mostly aligned moves and one notable divergence on favorable litigation news.

Recent Company History

Over the past several months, the company has steadily built toward this combination with De Tomaso. On Nov 26, 2025, it announced a strategic MOU with De Tomaso and partners. A joint development program for advanced automotive materials followed on Jan 16, 2026. On Feb 10, 2026, a favorable unanimous jury verdict supported De Tomaso. The Mar 9, 2026 corporate name and ticker change to OIO Group signaled a portfolio-building strategy, culminating in today’s post-closing share disclosure.

Key Terms

business combination, reverse stock split, Nasdaq Capital Market, ordinary shares

4 terms

business combination financial

"post-closing share capital following the completion of its previously disclosed business combination"

A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.

reverse stock split financial

"effected a one-for-three (1-for-3) reverse stock split of its ordinary shares"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

Nasdaq Capital Market financial

"ordinary shares commenced trading on The Nasdaq Capital Market on a split-adjusted basis"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

ordinary shares financial

"The Company’s ordinary shares commenced trading on The Nasdaq Capital Market"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SINGAPORE, April 28, 2026 (GLOBE NEWSWIRE) -- OIO Group (Nasdaq: OIO) (the “Company”) today announced its post-closing share capital following the completion of its previously disclosed business combination with De Tomaso Automobili Holdings Limited on April 24, 2026.

In connection with the transaction, the Company effected a one-for-three (1-for-3) reverse stock split of its ordinary shares, effective April 24, 2026. The Company’s ordinary shares commenced trading on The Nasdaq Capital Market on a split-adjusted basis under the ticker symbol “OIO” on the same date.

Following the closing of the business combination and the effectiveness of the reverse stock split, the Company has 348,022,108 ordinary shares issued and outstanding. The increase in shares outstanding reflects the issuance of consideration shares to De Tomaso shareholders as part of the business combination, representing the equity consideration for the acquisition, and does not reflect any new capital raising or financing activity.

About OIO Group

OIO Group (NASDAQ: OIO), formerly known as ESGL Holdings Limited, is a Singapore-based public company focused on building and scaling distinctive operating businesses with strong brand heritage, engineering capability, and long-term growth potential.

Following the completion of its business combination with De Tomaso Automobili, OIO Group is repositioning as a brand-led operating platform anchored in luxury mobility and advanced engineering. The Group operates through De Tomaso Automobili and Environmental Solutions (Asia) Pte. Ltd., and is expanding into complementary sectors where brand strength, engineering excellence, and disciplined value creation intersect.

OIO Group’s strategy is to combine operational execution with disciplined capital allocation to build a focused portfolio of high-quality businesses with global growth potential.

For more information, including the Company’s filings with the U.S. Securities and Exchange Commission, please visit https://oiogroup.co.

Forward-Looking Statements

Certain statements in this press release may be considered to contain “forward-looking statements” within the meaning of the “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 the current beliefs, expectations, and assumptions of management of OIO Group. 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 the Company’s 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 U.S. Securities and Exchange Commission (“SEC”) by the Company and in other documents that the Company may file or furnish with the SEC, which you are encouraged to read. Any forward-looking statement made by the Company in this press release is based only on information currently available 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.

Investor Relations Contact

OIO Group Investor Relations Department
Email: ir@oiogroup.co
Phone: +65 6653 2299

FAQ

How many shares does OIO Group (OIO) have outstanding after the De Tomaso deal?

OIO Group has 348,022,108 ordinary shares outstanding after closing. According to OIO Group, this total reflects consideration shares issued to De Tomaso shareholders and the 1-for-3 reverse stock split effective April 24, 2026.

What was the reverse stock split ratio for OIO Group and when did it take effect?

OIO Group effected a one-for-three (1-for-3) reverse stock split effective April 24, 2026. According to OIO Group, trading on Nasdaq began on a split-adjusted basis the same date under the ticker OIO.

Did OIO Group raise new capital as part of the De Tomaso business combination?

No, OIO Group did not raise new capital as part of the transaction. According to OIO Group, the increase in shares reflects issuance of consideration shares to De Tomaso shareholders, not financing or a capital raise.

When did OIO Group begin trading on Nasdaq after the business combination?

OIO Group's ordinary shares began trading on the Nasdaq Capital Market on April 24, 2026. According to OIO Group, trading started on a split-adjusted basis under the ticker symbol OIO following the closing and reverse split.

What does the issuance of consideration shares mean for OIO Group shareholders?

The issuance increased total outstanding shares to 348,022,108, which changes ownership percentages among shareholders. According to OIO Group, these shares were issued as equity consideration to De Tomaso shareholders and did not involve new financing.