Fusion Fuel Announces Decision by Nasdaq Hearings Panel

Rhea-AI Summary

Fusion Fuel Green PLC (HTOO) has received a decision from the Nasdaq Hearings Panel regarding its listing status. The panel found the company compliant with Rule 5550(b)(1), which requires minimum stockholders' equity of $2,500,000. The company has been granted exceptions with specific deadlines to meet other listing requirements:

1. By June 29, 2025: Must hold an annual shareholder meeting (Rule 5620(a))

2. By July 28, 2025: Must achieve a minimum bid price of $1.00 per share (Rule 5550(a)(2)), maintaining it for at least 10 consecutive business days. The Nasdaq hearing was held on January 7, 2025.

Positive

• Company meets Nasdaq's minimum stockholders' equity requirement of $2.5M
• Granted extension period to meet remaining listing requirements

Negative

• Risk of delisting if $1.00 minimum share price not achieved by July 28, 2025
• Current share price trading below Nasdaq minimum requirement of $1.00
• Must hold delayed annual shareholder meeting by June 29, 2025

Insights

Financial Compliance Analyst

The Nasdaq Hearings Panel decision represents a critical juncture for Fusion Fuel, with mixed implications for investors. While the company has successfully demonstrated compliance with the $2.5 million minimum stockholders' equity requirement, the conditional nature of continued listing presents significant challenges and risks.

The company faces two important deadlines: organizing an annual shareholder meeting by June 29, 2025 and achieving a minimum bid price of $1.00 by July 28, 2025. The bid price requirement is particularly challenging, as the company would need to nearly double its current share value and maintain it for at least 10 consecutive business days.

To achieve compliance with the minimum bid price requirement, Fusion Fuel has several potential options, each with distinct implications:

• Executing a reverse stock split, which while mathematically increasing the share price, could signal weakness to the market
• Demonstrating substantial business improvements or securing significant contracts to organically drive share price appreciation
• Pursuing strategic alternatives or corporate actions that could enhance market value

The implications of non-compliance could be severe, potentially resulting in delisting from Nasdaq and forcing the company to trade on less prestigious venues like OTC markets. This would likely impact:

• Trading liquidity and institutional investor access
• Future capital raising capabilities
• Overall market perception and credibility

For current shareholders, this situation requires careful monitoring, as the company's ability to maintain its Nasdaq listing is important for maintaining market visibility and access to capital markets, particularly important in the capital-intensive clean energy sector.

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

ir@fusion-fuel.eu

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FAQ

What are the deadlines for Fusion Fuel (HTOO) to meet Nasdaq listing requirements?

Fusion Fuel must hold an annual shareholder meeting by June 29, 2025, and achieve a minimum bid price of $1.00 per share by July 28, 2025.

How long must HTOO maintain a $1.00 share price to meet Nasdaq requirements?

HTOO must maintain a closing bid price at or above $1.00 per share for a minimum of 10 consecutive business days.

What minimum stockholders' equity requirement has HTOO met for Nasdaq?

HTOO has met Nasdaq's minimum stockholders' equity requirement of $2,500,000 under Rule 5550(b)(1).

When was Fusion Fuel's Nasdaq hearing held regarding listing compliance?

The Nasdaq hearing was held on January 7, 2025.