Latest news with #NormanChoi
Yahoo
23-05-2025
- Automotive
- Yahoo
ESGL Files Proxy Statement for Proposed Business Combination with De Tomaso Automobili
Filing highlights ESGL's plan to acquire De Tomaso Automobili, an iconic luxury performance brand, via Nasdaq-listed combination to unlock long-term shareholder value SINGAPORE, May 23, 2025 (GLOBE NEWSWIRE) -- ESGL Holdings Limited (Nasdaq: ESGL), a Singapore-based leader in sustainable circular solutions, has filed its proxy statement with the U.S. Securities and Exchange Commission in connection with its proposed business combination with De Tomaso Automobili Holdings, one of the most revered names in luxury performance cars. The proposals will be voted on at an Extraordinary General Meeting (EGM) to be held on June 10, 2025, and include: 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 Upon completion of the transaction, ESGL will be renamed OIO Holdings Limited and is expected to trade on Nasdaq under the new tickers 'OIO' (ordinary shares) and 'OIOWW' (warrants). Why This Business Combination Matters• Premium Brand, Global Demand: De Tomaso's P72 and P900 hypercars are attracting top-tier collectors. Limited production and high pricing power position the brand for strong financial performance. • A Strategic Leap: ESGL is expanding from industrial sustainability into ultra luxury consumer sectors. • Designed for Growth: The combined company's structure includes long-term shareholder alignment, performance-based earnouts, and Nasdaq visibility. • Ready to Go: The production-spec De Tomaso P72 is now available for invite-only viewings at Miller Motorcars in Greenwich, Connecticut, with limited public displays to follow. More information and voting instructions can be found at: If you're a shareholder as of May 2, 2025, your vote matters. About ESGL Holdings Limited ESGL Holdings Limited (NASDAQ: ESGL) is a Singapore-based leader in sustainable circular solutions for the chemicals, electronics, and manufacturing sectors. Through its proprietary technology and ESG-first strategy, ESGL transforms waste into high-value circular products, enabling a low-carbon and resource-efficient future. About De Tomaso Automobili Founded in 1959 in Modena, Italy, De Tomaso is a storied automotive brand blending Italian design with motorsport heritage. Revived in 2014 under the leadership of Norman Choi, the company is committed to building emotionally resonant, mechanically pure vehicles for a new generation of enthusiasts. Investor & Media Contacts:ESGL Holdings LimitedInvestor Relations: ir@ De Tomaso AutomobiliMedia Inquiries: media@ @detomaso_official 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. Examples of forward-looking statements include, among others, statements made in this press release regarding ESGL's and De Tomaso Automobili's expectations with respect to future performance, the anticipated financial impact of the proposed business combination, the satisfaction of the closing conditions to the share purchase agreement and the timing of the completion of the proposed business combination. 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 SEC by ESGL and other documents that ESGL 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 ESGL and speaks only as of the date on which it is made. ESGL 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. No Assurances There can be no assurance that the proposed business combination will be completed, nor can there be any assurance, if the proposed business combination is completed, that the potential benefits of the business combination will be while retrieving data Sign in to access your portfolio Error while retrieving data
Yahoo
23-05-2025
- Automotive
- Yahoo
ESGL Files Proxy Statement for Proposed Business Combination with De Tomaso Automobili
Filing highlights ESGL's plan to acquire De Tomaso Automobili, an iconic luxury performance brand, via Nasdaq-listed combination to unlock long-term shareholder value SINGAPORE, May 23, 2025 (GLOBE NEWSWIRE) -- ESGL Holdings Limited (Nasdaq: ESGL), a Singapore-based leader in sustainable circular solutions, has filed its proxy statement with the U.S. Securities and Exchange Commission in connection with its proposed business combination with De Tomaso Automobili Holdings, one of the most revered names in luxury performance cars. The proposals will be voted on at an Extraordinary General Meeting (EGM) to be held on June 10, 2025, and include: 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 Upon completion of the transaction, ESGL will be renamed OIO Holdings Limited and is expected to trade on Nasdaq under the new tickers 'OIO' (ordinary shares) and 'OIOWW' (warrants). Why This Business Combination Matters• Premium Brand, Global Demand: De Tomaso's P72 and P900 hypercars are attracting top-tier collectors. Limited production and high pricing power position the brand for strong financial performance. • A Strategic Leap: ESGL is expanding from industrial sustainability into ultra luxury consumer sectors. • Designed for Growth: The combined company's structure includes long-term shareholder alignment, performance-based earnouts, and Nasdaq visibility. • Ready to Go: The production-spec De Tomaso P72 is now available for invite-only viewings at Miller Motorcars in Greenwich, Connecticut, with limited public displays to follow. More information and voting instructions can be found at: If you're a shareholder as of May 2, 2025, your vote matters. About ESGL Holdings Limited ESGL Holdings Limited (NASDAQ: ESGL) is a Singapore-based leader in sustainable circular solutions for the chemicals, electronics, and manufacturing sectors. Through its proprietary technology and ESG-first strategy, ESGL transforms waste into high-value circular products, enabling a low-carbon and resource-efficient future. About De Tomaso Automobili Founded in 1959 in Modena, Italy, De Tomaso is a storied automotive brand blending Italian design with motorsport heritage. Revived in 2014 under the leadership of Norman Choi, the company is committed to building emotionally resonant, mechanically pure vehicles for a new generation of enthusiasts. Investor & Media Contacts:ESGL Holdings LimitedInvestor Relations: ir@ De Tomaso AutomobiliMedia Inquiries: media@ @detomaso_official 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. Examples of forward-looking statements include, among others, statements made in this press release regarding ESGL's and De Tomaso Automobili's expectations with respect to future performance, the anticipated financial impact of the proposed business combination, the satisfaction of the closing conditions to the share purchase agreement and the timing of the completion of the proposed business combination. 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 SEC by ESGL and other documents that ESGL 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 ESGL and speaks only as of the date on which it is made. ESGL 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. No Assurances There can be no assurance that the proposed business combination will be completed, nor can there be any assurance, if the proposed business combination is completed, that the potential benefits of the business combination will be in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Automotive
- Yahoo
De Tomaso launches €1.6m P72 Luxury Hypercar as ESGL Business Combination Nears Completion
Production debut of the De Tomaso P72 underscores brand strength and commercial readiness as ESGL business combination advances SINGAPORE, May 16, 2025 (GLOBE NEWSWIRE) -- ESGL Holdings Limited (NASDAQ: ESGL), a leader in sustainable circular solutions, announces a major milestone in its strategic merger with De Tomaso Automobili: the official unveiling of the production specification P72. This event reinforces the strong operational and brand foundation of the combined company, as the proposed business combination approaches its targeted closing in June 2025. The P72, originally revealed as a concept at the 2019 Goodwood Festival of Speed, now enters its production form. Developed on a clean-sheet carbon fibre chassis and powered by a bespoke 5.0L supercharged V8 engine, the P72 represents a return to timeless, mechanical design and driver-focused engineering. 'The P72 is our promise made real,' added Norman Choi, CEO of De Tomaso Automobili. 'It reflects our pursuit of mechanical purity, design heritage, and craftsmanship that transcends trends. As we take this next step with ESGL, we remain committed to creating vehicles that stir the soul and celebrate the analogue driving experience.' This unveiling marks the readiness of De Tomaso to commence customer deliveries in late 2025 and reaffirms the shared vision between the two companies. The production vehicle revealed today is an internal unit, separate from the 72 custodian allocations, and showcases the final engineering, design, and build quality De Tomaso will deliver at scale. 'The launch of the production P72 signals to investors that De Tomaso is ready to scale. This is more than a car—it is a commercial catalyst,' said Lawrence Law, Executive Director of ESGL Holdings. 'As we near completion of our merger, this milestone underlines the strategic value we can create together.' The proposed business combination between ESGL and De Tomaso is expected to close in June 2025, subject to shareholder and regulatory approvals. Media Coverage and Exclusive Viewing The production-spec De Tomaso P72 is now available for invite-only viewings at Miller Motorcars in Greenwich, Connecticut, with limited public displays to follow. This exclusive showcase offers a rare opportunity to experience the vehicle's breathtaking design and mechanical purity up launch has already ignited global media attention. Top Gear featured the P72 in a headline piece, calling it 'a dreamy hypercar with mechanical soul and timeless design.' You can read the article at: More information about the launch and the P72 can be found About ESGL Holdings Limited ESGL Holdings Limited (NASDAQ: ESGL) is a Singapore-based leader in sustainable circular solutions for the chemicals, electronics, and manufacturing sectors. Through its proprietary technology and ESG-first strategy, ESGL transforms waste into high-value circular products, enabling a low-carbon and resource-efficient future. About De Tomaso Automobili Founded in 1959 in Modena, Italy, De Tomaso is a storied automotive brand blending Italian design with motorsport heritage. Revived in 2014 under the leadership of Norman Choi, the company is committed to building emotionally resonant, mechanically pure vehicles for a new generation of enthusiasts. Investor & Media Contacts:ESGL Holdings LimitedInvestor Relations: ir@ De Tomaso AutomobiliMedia Inquiries: media@ @detomaso_official 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. Examples of forward-looking statements include, among others, statements made in this press release regarding ESGL's and De Tomaso Automobili's expectations with respect to future performance, the anticipated financial impact of the proposed business combination, the satisfaction of the closing conditions to the share purchase agreement and the timing of the completion of the proposed business combination. 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 SEC by ESGL and other documents that ESGL 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 ESGL and speaks only as of the date on which it is made. ESGL 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. No Assurances There can be no assurance that the proposed business combination will be completed, nor can there be any assurance, if the proposed business combination is completed, that the potential benefits of the business combination will be realized. A PDF accompanying this announcement is available at:
Car and Driver
15-05-2025
- Automotive
- Car and Driver
Drool over These New Photos of the Production-Spec De Tomaso P72
De Tomaso unveiled the production-ready P72 supercar today, more than six years after first debuting the car at the 2019 Goodwood Festival of Speed. The P72's grandiose cabin is free of touchscreens and features a six-speed manual transmission with an exposed linkage. The supercharged 5.0-liter V-8 engine produces 700 horsepower and continues De Tomaso's tradition of pairing gorgeous Italian bodywork with American V-8 power. In 2019, the De Tomaso name reemerged, after more than a decade of dormancy, on the beautiful P72 supercar. The revived company announced plans to build 72 units, but other than trotting the P72 out at car shows, things have been pretty quiet in the ensuing six years. Now De Tomaso has revealed the P72 in its final production specification, giving us another opportunity to fawn over its curvaceous bodywork, ornate interior, and combination of eight-cylinder power and a manual transmission. De Tomaso says deliveries will begin later this year. De Tomaso Automobili The P72 is built around a carbon-fiber chassis, and while the company claims it is all new, previous reporting has suggested the chassis is shared with the Apollo Intense Emozione, another limited-production supercar overseen by the same man who led the comeback of De Tomaso, Norman Choi. The eye-catching body is also fashioned entirely from carbon fiber and features swooping fenders, deep side intakes, and an overall look that recalls endurance racers of the 1960s. The cabin is a marvel. There are no touchscreens or infotainment system, with the dashboard instead holding a series of gauges and physical controls, all housed in milled aluminum with a copper-colored finish. De Tomaso did sneak in a phone mount, in case you need to consult a map for directions, but there is no way to digitally connect the device to the car. It also seems as if the P72 may eschew speakers, with De Tomaso stating "the engine is the soundtrack." The only screen in the car is the digital rearview mirror, required by law to display the backup camera. De Tomaso Automobili You will also have noticed the manual shifter, a rarity in modern supercars. It features an exposed linkage—similar to the Lotus Emira—that emphasizes the human-machine connection. Like the gauges, the shift knob sports a series of crisscrossing lines that create a jewel-like appearance. The six-speed manual gearbox is hooked up to a supercharged 5.0-liter V-8. While De Tomaso says the engine is "developed exclusively" for the P72, TopGear reports that this is a Roush-tuned Ford Coyote engine, also found in a variety of Mustang and F-150 models. This may seem a bit pedestrian for an exclusive and no doubt expensive supercar like the P72, but De Tomaso has a long history of pairing Italian styling with American-made V-8s, with the famous Pantera using Ford V-8s during its production run from 1971 to 1992. De Tomaso Automobili De Tomaso Automobili De Tomaso says that "bespoke forged internals" and a De Tomaso–specific supercharger allow the V-8 to produce 700 horsepower and 604 pound-feet of torque. No performance figures were quoted, and De Tomaso says the engine is not tuned for top-speed runs, with the short gear ratios instead emphasizing a focus on driver engagement. Other technical details include a pushrod suspension and three-way manually adjustable dampers. The example seen in these photos is an "internal production specification unit," meaning it will not count toward the 72-unit production run. Each of the 72 units delivered to customers will be highly bespoke, De Tomaso says. There's no word on pricing, but we have to imagine the P72 will require well over $1 million. Caleb Miller Associate News Editor Caleb Miller began blogging about cars at 13 years old, and he realized his dream of writing for a car magazine after graduating from Carnegie Mellon University and joining the Car and Driver team. He loves quirky and obscure autos, aiming to one day own something bizarre like a Nissan S-Cargo, and is an avid motorsports fan.
Top Gear
14-05-2025
- Automotive
- Top Gear
The stunning €1.6m DeTomaso P72 is finally ready for production
First Look Revived Italian supercar with 700bhp supercharged heart lands with customers by Christmas Skip 16 photos in the image carousel and continue reading The DeTomaso P72 is determined not to be supercar vapourware. Remember the voluptuously styled stunner that graced the 2019 Goodwood Festival of Speed, slathered in rose-gold? It's been ominously quiet. You might've presumed the whole project was dead in the water. But despite the pandemic and political upheaval creating some gale-force headwinds, the P72 is ready. has been granted exclusive access to the finished car, ahead of first deliveries with patient owners by Christmas 2025. Advertisement - Page continues below Although prototype P72s stoked engine rumours by borrowing the V12 from the Apollo Intensa Emozione also spearheaded by DeTomaso boss Norman Choi, the production cars will stay true to DeTomaso's American-powered roots. 700bhp and 590lb ft – plenty for pushing along around 1,400kg – comes courtesy of a 5.0-litre Roush-honed Ford V8 with forged pistons and crank, boosted by a bespoke supercharger specified to create as little whine as possible, because Choi prefers a naturally aspirated sound. No confirmed performance numbers yet, because Norman doesn't seem bothered about a 0-60 time or a top speed. Photography: Mark Riccioni You might like The mid-mounted powerplant lies in a carbon cradle, beneath a clamshell cover lined in gold foil, as prescribed in Gordon Murray's supercar bible. It's dry-sump lubricated and the ceramic-coated exhaust exits (via the suspension wishbones, in an intricate loop) directly out the top of the rear deck. Though the car you're looking at has been equipped with enormous silencers to meet European drive-by noise laws, DeTomaso is working on pipes with a more relaxed attitude to noise pollution. Advertisement - Page continues below While the concept P72 used a sequential gearbox, the finished car stays true to the original promise to deploy a six-speed manual with a clutch pedal and a gorgeous Pagani-esque exposed linkage. Alongside the GMA T.50, Aston Martin Valiant and Pagani Utopia, the age of the stick-shift hypercar really does appear to be upon us. 'Stick' doesn't really do this one justice. The gear lever is one of 179 pieces of milled aluminium in the P72's phenomenally ornate cabin – 19 more than the Bugatti Tourbillon, which uses the same metalwork supplier, we're told. The knurled brightwork and switchgear is available in three finishes and endless colours, and there are endless details to drool over. The Roman numeral-engraved rev-counter that spins to IX (9). The triplet of oil pressure, temperature and coolant gauges in the centre. There is no infotainment system, no Apple CarPlay, not even a radio. The only 'screen' inside is the mirror which doubles as a display for the rear-view camera, a necessity specified by the company boss who's owned a multitude of supercars and finds manoeuvring in narrow Hong Kong parking garages a trifle stressful. If you'd prefer to do without the virtual mirror, it's a delete-option. Since we saw the P72 at Goodwood, DeTomaso has reworked the LMP1-spec carbon monocoque for a lower sill to ease entry, and fixed the seats to the tub itself for improved cabin space. The steering wheel and pedals adjust to suit each driver, who'll park their wealthy backside on bespoke seat cushions. Thank you for subscribing to our newsletter. Look out for your regular round-up of news, reviews and offers in your inbox. Get all the latest news, reviews and exclusives, direct to your inbox. The driving position is pure racecar: low, with backside on the deck and heels raised to meet the floor-hinged pedals. The cabin is snug, but airy thanks to glass-topped doors that onlookers will appreciate as much as occupants. Who wouldn't want to gawp at that interior? DeTomaso says the P72 is a GT car – hence its generous 100-litre fuel tank – as opposed to the track-spec Apollo from the related stable. But you're going to be travelling light: twin luggage bins aft of the engine are big enough for a crash helmet and a change of underwear for both occupants, but you'll be packing light into the fitted luggage. If this is the first you're hearing of the P72 and you made a mint selling hand-sanitiser during covid, you'll probably want one, even at €1.6m a pop. Plus taxes. Bad news: all 72 are sold. Have been for years, and there's a lengthy waiting list in case someone drops out of the queue. TG's spidey-sense is that DeTomaso isn't going to have gone to the trouble of dreaming up this new supercar for just one production run, so stay tuned for the P900 track-only version, and perhaps another version in the coming years. P72 Roadster anyone? 16 minutes 56 seconds
