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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.
OIO Group (NASDAQ: OIO) completed its business combination with De Tomaso on April 23, 2026, resulting in a change of control and making De Tomaso founder Norman Choi the controlling shareholder. Mr. Choi is expected to become CEO and Chairman after customary post-closing actions. The company announced a 1-for-3 reverse stock split effective with trading on April 24, 2026, and disclosed further details in a Form 6-K filed with the SEC. OIO describes the combination as positioning the Nasdaq-listed platform to scale premium, engineering-led businesses leveraging De Tomaso's brand and engineering pedigree.
OIO Group (NASDAQ: OIO) approved a 1-for-3 reverse stock split effective 12:01 a.m. ET on April 24, 2026, to be implemented immediately prior to the closing of its business combination with De Tomaso and the commencement of trading on The Nasdaq Capital Market.
The split will combine every three issued shares into one, round fractional shares up, adjust CUSIP to G3R95P124, and proportionately adjust equity awards and consideration shares, with no change to overall economic value of the transaction.
ESGL Holdings Limited (NASDAQ: ESGL) announced a corporate name change to OIO Group and a Nasdaq ticker change from ESGL to OIO, effective March 10, 2026.
Shareholders approved the change. There are no changes to share capital, classes, shareholder rights, or trading mechanics. The company said the shift reflects an evolving strategy to build a portfolio of distinctive operating businesses. A proposed business combination with De Tomaso Automobili Holdings Limited remains in progress and is subject to customary closing conditions. Ordinary shares and warrants will continue trading on Nasdaq under tickers OIO and OIOWW without interruption.