ESGL Holdings Court Verdict Favors De Tomaso
ESGL Holdings noted the unanimous jury verdict delivered in the U.S. District Court for the Southern District of New York in favor of De Tomaso Automobili Holdings Limited and its owner, Norman Choi. The jury rejected claims asserted by former CEO Ryan Berris, confirming that he held no equity interest in De Tomaso and had no contractual entitlement to the compensation alleged, including any bespoke limited edition supercar. The jury also found in favor of De Tomaso on its counterclaims for breach of fiduciary duty, awarding damages. This outcome resolves the previously disclosed litigation referenced in ESGL's public filings. The verdict confirms De Tomaso and Choi have been cleared of all allegations of fraud, dishonesty, or unjust action.
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ESGL HOLDINGS LTD: DE TOMASO AND NORMAN CHOI EXONERATED OF ALL FRAUD, DISHONESTY, OR UNFAIR ACTION ALLEGATIONS
- Verdict Announcement: The verdict confirms that DeTomasso and Norman Choi have been cleared of all allegations against them.
- Allegations Dismissed: The allegations included fraud, dishonesty, and unjust actions, all of which have been dismissed.
ESGL HOLDINGS LTD: REPORTS UNANIMOUS JURY VERDICT IN FAVOR OF DE TOMASO AUTOMOBILI
- Verdict Announcement: A unanimous jury verdict has been reached in favor of De Tomaso Automobili.
- Company Background: De Tomaso Automobili is known for its luxury sports cars and has a significant presence in the automotive industry.
ESGL and De Tomaso Prolong Merger Agreement, Reinforcing Dedication to Business Combination
Merger Agreement Extension: ESGL Holdings Limited has extended its merger agreement with De Tomaso Automobili, setting a new long stop date of October 31, 2025, to complete the business combination.
Commitment to Partnership: Both companies' CEOs expressed strong commitment to the merger, highlighting the potential for long-term shareholder value and growth opportunities as a combined entity.
ESGL Shareholders Approve All Proposals for Business Combination with De Tomaso Automobili
Shareholder Approval: ESGL Holdings Limited shareholders approved all proposals for the business combination with De Tomaso Automobili during an Extraordinary General Meeting on June 10, 2025, including share capital expansion and potential name change.
Future Outlook: The completion of the business combination is pending Nasdaq's approval and other customary conditions, with ESGL expressing optimism about growth opportunities and long-term shareholder value.
ESGL Chairman and CEO Increases Ownership to 8.2% Through $2.25 Per Share Acquisitions
Share Acquisition by CEO: Mr. Quek Leng Chuang, Chairman and CEO of ESGL Holdings Limited, has purchased 336,134 shares at $2.25 each, increasing his ownership to approximately 8.2%, reflecting confidence in the company's long-term strategy.
Business Combination Progress: ESGL is advancing its proposed merger with De Tomaso Automobili, which is undergoing regulatory and shareholder approval processes, aimed at enhancing ESGL's portfolio and growth strategy.
De Tomaso launches €1.6m P72 Luxury Hypercar as ESGL Business Combination Nears Completion
Merger Announcement: ESGL Holdings Limited has unveiled the production specification of the P72, a hypercar developed in partnership with De Tomaso Automobili, as they approach the completion of their merger expected in June 2025.
Vehicle Features and Market Readiness: The P72 features a carbon fibre chassis and a bespoke supercharged V8 engine, emphasizing mechanical purity and design heritage, with customer deliveries slated to begin in late 2025.
ESGL HOLDINGS LTD: DE TOMASO AND NORMAN CHOI EXONERATED OF ALL FRAUD, DISHONESTY, OR UNFAIR ACTION ALLEGATIONS
- Verdict Announcement: The verdict confirms that DeTomasso and Norman Choi have been cleared of all allegations against them.
- Allegations Dismissed: The allegations included fraud, dishonesty, and unjust actions, all of which have been dismissed.
ESGL HOLDINGS LTD: REPORTS UNANIMOUS JURY VERDICT IN FAVOR OF DE TOMASO AUTOMOBILI
- Verdict Announcement: A unanimous jury verdict has been reached in favor of De Tomaso Automobili.
- Company Background: De Tomaso Automobili is known for its luxury sports cars and has a significant presence in the automotive industry.
ESGL and De Tomaso Prolong Merger Agreement, Reinforcing Dedication to Business Combination
Merger Agreement Extension: ESGL Holdings Limited has extended its merger agreement with De Tomaso Automobili, setting a new long stop date of October 31, 2025, to complete the business combination.
Commitment to Partnership: Both companies' CEOs expressed strong commitment to the merger, highlighting the potential for long-term shareholder value and growth opportunities as a combined entity.
ESGL Shareholders Approve All Proposals for Business Combination with De Tomaso Automobili
Shareholder Approval: ESGL Holdings Limited shareholders approved all proposals for the business combination with De Tomaso Automobili during an Extraordinary General Meeting on June 10, 2025, including share capital expansion and potential name change.
Future Outlook: The completion of the business combination is pending Nasdaq's approval and other customary conditions, with ESGL expressing optimism about growth opportunities and long-term shareholder value.
ESGL Chairman and CEO Increases Ownership to 8.2% Through $2.25 Per Share Acquisitions
Share Acquisition by CEO: Mr. Quek Leng Chuang, Chairman and CEO of ESGL Holdings Limited, has purchased 336,134 shares at $2.25 each, increasing his ownership to approximately 8.2%, reflecting confidence in the company's long-term strategy.
Business Combination Progress: ESGL is advancing its proposed merger with De Tomaso Automobili, which is undergoing regulatory and shareholder approval processes, aimed at enhancing ESGL's portfolio and growth strategy.
De Tomaso launches €1.6m P72 Luxury Hypercar as ESGL Business Combination Nears Completion
Merger Announcement: ESGL Holdings Limited has unveiled the production specification of the P72, a hypercar developed in partnership with De Tomaso Automobili, as they approach the completion of their merger expected in June 2025.
Vehicle Features and Market Readiness: The P72 features a carbon fibre chassis and a bespoke supercharged V8 engine, emphasizing mechanical purity and design heritage, with customer deliveries slated to begin in late 2025.
