OIO Group Finalizes De Tomaso Merger, Creating New Controlling Interest and Strategic Growth Platform

(SeaPRwire) –   SINGAPORE, April 23, 2026 — OIO Group (NASDAQ: OIO) (“OIO” or the “Company”) today announced the successful completion of its previously announced business combination with De Tomaso Automobili Holdings Limited (“De Tomaso”), which has resulted in a change of control for the Company.

This significant milestone marks a transformative period for OIO as it progresses its strategy to cultivate a portfolio of distinct, high-value operating businesses grounded in brand heritage, engineering excellence, and long-term value creation.

Following the closing of the transaction, De Tomaso’s founder, Norman Choi, has become the controlling shareholder of OIO Group. This positions the Company under leadership with extensive expertise in the luxury performance automotive sector, brand development, and global market expansion. Mr. Choi is anticipated to assume the positions of Chief Executive Officer and Chairman after the completion of customary post-closing corporate actions.

A Platform for High-Value Growth

The combination unites:

• De Tomaso’s renowned global luxury automotive brand and its engineering legacy, and
• OIO’s Nasdaq-listed platform, designed to scale differentiated operating businesses.

With this robust foundation, OIO is now strategically positioned to expand into premium, engineering-driven sectors, capitalizing on brand equity, disciplined execution, and strategic capital allocation.

The Company believes this transaction substantially enhances its strategic flexibility, enabling it to pursue value-enhancing opportunities across high-margin, brand-centric industries.

Reverse Stock Split

In conjunction with the closing of the transaction, the Company confirms that a 1-for-3 reverse stock split of its ordinary shares will become effective at the commencement of trading on April 24, 2026. This action is intended to align its capital structure with Nasdaq listing requirements following the completion of the business combination.

Additional details concerning the transaction and the reverse stock split have been provided in a Form 6-K filing with the U.S. Securities and Exchange Commission.

About OIO Group

OIO Group (NASDAQ: OIO), previously known as ESGL Holdings Limited, is a Singapore-based public company dedicated to building and supporting distinctive operating businesses characterized by strong heritage, engineering capabilities, and significant long-term growth potential. The Company currently operates through its subsidiary, Environmental Solutions (Asia) Pte. Ltd., and is actively pursuing a broader portfolio strategy focused on businesses where brand strength, engineering excellence, and disciplined value creation converge. Post the business combination, OIO will continue its evolution as a platform focused on developing and supporting distinctive operating businesses across complementary sectors.

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

Forward-Looking Statements

Certain statements within this press release may be considered “forward-looking statements” as defined by the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “target,” “believe,” “expect,” “will,” “shall,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” “forecast,” “intend,” “plan,” “project,” and other similar expressions that indicate or predict future events or trends, or that are not statements of historical fact.

Forward-looking statements are not historical facts, nor do they serve as guarantees of future performance. Instead, they are based solely on the current beliefs, expectations, and assumptions of OIO Group’s management. As forward-looking statements pertain to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are beyond the Company’s control. Actual results and outcomes may differ materially from those expressed or implied in the forward-looking statements. Therefore, reliance should not be placed on any of these forward-looking statements.

A more comprehensive 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, as well as in other documents that the Company may file or furnish with the SEC, which are encouraged to be reviewed. Any forward-looking statement made by the Company in this press release is based solely on information currently available and speaks only as of the date it is made. The Company assumes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether due to 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