OIO Group (NASDAQ:OIO) ("OIO" or the "Company") today announced the completion of its previously announced business combination with De Tomaso Automobili Holdings Limited ("De Tomaso"), resulting in a change of control of the Company.

As a result of the closing of the transaction, De Tomaso's founder, Norman Choi, becomes the controlling shareholder of OIO Group, positioning the Company under leadership with deep expertise in luxury performance automotive, brand development, and global market expansion. Mr. Choi is expected to assume the roles of Chief Executive Officer and Chairman following completion of customary post-closing corporate actions.