ESGL Holdings Completes Initial Private Placement Tranche

TL;DR

ESGL Holdings closed initial private placement, selling 2M shares at $0.25 each.

AI Summary

ESGL Holdings Limited announced the initial closing of a private placement on March 28, 2024, where an accredited investor purchased 2,000,000 ordinary shares at US$0.25 per share. This is part of a larger agreement to issue up to 10,000,000 shares, as initially disclosed on April 1, 2024, under a Share Purchase Agreement dated March 27, 2024.

Why It Matters

This private placement provides ESGL Holdings with capital, potentially strengthening its financial position and enabling further business development or operational activities.

Risk Assessment

Risk Level: medium — Private placements can indicate a need for capital, and the relatively low share price might suggest financial pressures or a strategy to attract investment.

Key Numbers

• 2,000,000 — Shares Purchased (Represents the initial tranche of shares sold in the private placement.)
• US$0.25 — Price Per Share (The price at which shares were sold in the private placement.)
• 10,000,000 — Total Potential Shares (The maximum number of shares the company may issue under the agreement.)

Key Players & Entities

• ESGL Holdings Limited (company) — Filer of the report and issuer of shares
• March 28, 2024 (date) — Date of the initial closing of the private placement
• 2,000,000 (dollar_amount) — Number of ordinary shares purchased in the initial closing
• US$0.25 (dollar_amount) — Purchase price per ordinary share
• April 1, 2024 (date) — Date of initial disclosure of the private placement
• March 27, 2024 (date) — Date of the Share Purchase Agreement
• 10,000,000 (dollar_amount) — Maximum aggregate number of ordinary shares to be issued

FAQ

Key Financial Figures

• $0.25 — the Purchaser at a purchase price of US$0.25 per share. The initial closing under th
• $2,500,000 — The Company received gross proceeds of $2,500,000 in the private placement. The Company s

Filing Documents

• form6-k.htm (6-K) — 22KB
• 0001493152-24-013060.txt ( ) — 23KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For April 2024 Commission File No. 001-41772 ESGL Holdings Limited 101 Tuas South Avenue 2 Singapore 637226 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F Information Contained in this Form 6-K Report Closing of Private Placement As previously disclosed in a Form 6-K filed by ESGL Holdings Limited (the “Company”) on April 1, 2024, the Company entered into a Share Purchase Agreement dated March 27, 2024 (the “Purchase Agreement”) with an accredited investor (the “Purchaser”), pursuant to which the Company shall issue in a private placement up to an aggregate of 10,000,000 ordinary shares to the Purchaser at a purchase price of US$0.25 per share. The initial closing under the Purchase Agreement took place on March 28, 2024 pursuant to which the Purchaser purchased 2,000,000 ordinary shares. The second and final closing under the Purchase Agreement took place on April 3, 2024 pursuant to which the Purchaser purchased 8,000,000 ordinary shares. The Company received gross proceeds of $2,500,000 in the private placement. The Company shall use 85% of the net proceeds received from the private placement for working capital and general corporate purposes and the remaining 15% to pay outstanding professional fees. The ordinary shares were offered by the Company in a private placement pursuant to the exemption provided in Section 4(a)(2) under the United efforts to prepare and file a resale registration statement with the Securities and Exchange Commission registering the ordinary shares issued pursuant to the Purchase Agreement for resale on behalf of the Purchaser. The Company also agreed to use its commercially reasonable efforts to cause such registration statement to be declared effective under the Securities Act as promptly as possible after the filing thereof, and shall use its commercially reasonable efforts to keep such registration statement continuously effective under the Securities Act until the date that all of the shares covered by such registration statement (i) have been sold thereunder or pursuant to Rule 144, or (ii) may be sold without volume or manner-of-sale restrictions pursuant to Rule 144. The foregoing description of the Purchase Agreement does not purport to describe all of the terms and provisions thereof and is qualified in its entirety by reference to the form of Purchase Agreement which was filed as Exhibit 10.1 to the Form 6-K filed by the Company on April 1, 2024 and is incorporated herein by reference. Exhibits Exhibit No. Description 10.1 Share Purchase Agreement (incorporated by reference to Exhibit 10.1 to the Form 6-K filed by the Company on April 1, 2024). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ESGL Holdings Limited By: /s/ Ho Shian Ching Name: Ho Shian Ching Title: Chief Financial Officer Dated: April 3, 2024

View Full Filing

View this 6-K filing on SEC EDGAR