Fusion Fuel Green PLC complies with Nasdaq requirements, granted time to meet further listing criteria.
Quiver AI Summary
Fusion Fuel Green PLC announced that the Nasdaq Hearings Panel has determined the company meets the Nasdaq Listing Rule 5550(b)(1) requirement for a minimum stockholders' equity of $2,500,000, granting it an exception for continued listing. However, the company must demonstrate compliance with Nasdaq rules regarding an annual shareholder meeting by June 29, 2025, and maintain a minimum bid price of $1.00 for at least ten consecutive business days by July 28, 2025. Fusion Fuel specializes in energy engineering and supply solutions through its brands, Al Shola Gas and BrightHy, focusing on industrial gas and innovative hydrogen solutions, respectively.
Potential Positives
- The Nasdaq Hearings Panel has confirmed that Fusion Fuel Green PLC is in compliance with the Nasdaq Listing Rule 5550(b)(1), ensuring the company's continued listing on the Nasdaq Stock Market.
- The Company has been granted an exception to demonstrate compliance with other applicable criteria for continued listing, providing additional time to meet these requirements.
- The announcement highlights the Company's commitment to maintaining transparency and adherence to regulatory standards, which can foster investor confidence.
Potential Negatives
- The Company is required to demonstrate compliance with multiple Nasdaq listing rules by specific deadlines, indicating potential ongoing regulatory scrutiny and financial instability.
- The press release reveals that the Company must maintain a minimum bid price of $1.00 per share, raising concerns about its current stock performance and investor confidence.
- Failure to comply with the Nasdaq requirements could lead to delisting, which would significantly impact the Company's market presence and investor base.
FAQ
What recent compliance decision was made by the Nasdaq Hearings Panel for Fusion Fuel?
Fusion Fuel was found in compliance with Nasdaq Listing Rule 5550(b)(1) regarding minimum stockholders' equity.
What is the minimum stockholders' equity requirement for Nasdaq?
The minimum stockholders' equity requirement for Nasdaq is $2,500,000 as per Listing Rule 5550(b)(1).
What additional compliance requirements does Fusion Fuel need to meet?
Fusion Fuel must hold an annual shareholder meeting by June 29, 2025, and meet a minimum bid price by July 28, 2025.
What is the Minimum Bid Price Requirement for Fusion Fuel?
The Minimum Bid Price Requirement mandates that Fusion Fuel's shares must close at or above $1.00 for 10 consecutive business days.
Where can I find more information about Fusion Fuel Green PLC?
More information about Fusion Fuel Green PLC can be found on their website at https://www.fusion-fuel.eu.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
DUBLIN, Feb. 06, 2025 (GLOBE NEWSWIRE) -- via IBN -- Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of comprehensive energy engineering, advisory, and supply solutions, today announced that the Nasdaq Hearings Panel has found the Company in compliance with Nasdaq Listing Rule 5550(b)(1), requiring minimum stockholders' equity of $2,500,000, and granted the Company’s request for an exception to evidence compliance with other applicable criteria for continued listing on The Nasdaq Stock Market LLC.
On or before June 29, 2025, the Company will be required to demonstrate compliance with Nasdaq Listing Rule 5620(a) requiring the Company to hold an annual shareholder meeting. In addition, on or before July 28, 2025, the Company will be required to demonstrate compliance with Nasdaq Listing Rule 5550(a)(2) requiring the Company to have a minimum bid price of $1.00 (the “Minimum Bid Price Requirement”). To evidence compliance with the Minimum Bid Price Requirement, the Company’s Class A Ordinary Shares must have a closing bid price at or above $1.00 per share for a minimum of 10 consecutive business days. The Nasdaq hearing on the matter was held on January 7, 2025.
About Fusion Fuel Green plc
Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy engineering and advisory solutions through its Al Shola Gas and BrightHy brands. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy, the Company’s newly launched hydrogen solutions platform, focuses on delivering innovative engineering and advisory services that enable decarbonization across hard-to-abate industries.
Learn more about Fusion Fuel by visiting our website at
https://www.fusion-fuel.eu
and following us on
LinkedIn
.
Forward-Looking Statements
This press release includes “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations. Such forward-looking statements are subject to risks and uncertainties (including those set forth in Fusion Fuel’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission) which could cause actual results to differ from the forward-looking statements.
Investor Relations Contact
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
