Fusion Fuel Green Receives Nasdaq Deficiency Notice Regarding Minimum Bid Price Requirement

Rhea-AI Summary

Fusion Fuel Green Plc has received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company's Class A ordinary shares, trading under the symbol HTOO, have been below this threshold for 31 consecutive business days from June 18 to August 1, 2024. Fusion Fuel Green has until January 29, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. The notice does not immediately affect the company's listing on The Nasdaq Global Market. If compliance is not achieved by the deadline, an additional 180-day period may be granted. The company plans to monitor the situation and consider options to meet the requirement.

Positive

• None.

Negative

• Stock price has fallen below $1.00 for an extended period
• Risk of potential delisting from Nasdaq if compliance is not achieved
• Company may need to implement measures to boost stock price, potentially affecting shareholders

Ordinary shares will continue to trade on the Nasdaq Global Market, and the Company’s listing on such exchange is not affected by the receipt of the Notice

DUBLIN, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Fusion Fuel Green Plc (the “Company”) has received a written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company is not currently in compliance with the minimum bid price requirement of $1.00 per share set forth in Nasdaq Rules for continued listing on Nasdaq (the “Minimum Bid Price Requirement”), based on the closing bid price of the Company’s listed securities for the 31 consecutive business days from June 18, 2024 to August 1, 2024.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until January 29, 2025 (the “Compliance Deadline”), to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the Company’s Class A ordinary shares (the “Ordinary Shares”) must have a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.

The Notice has no immediate effect on the listing of the Company’s Ordinary Shares, which continue to trade on The Nasdaq Global Market under the symbol “HTOO”. The Company intends to monitor the closing bid price of its Ordinary Shares and may, if appropriate, consider implementing available options to regain compliance with the Minimum Bid Price Requirement. If the Company does not regain compliance by the Compliance Deadline, the Company may be afforded an additional 180 calendar day period to regain compliance as provided by the Nasdaq Listing Rules.

About Fusion Fuel Green plc

Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition through the development of disruptive, clean hydrogen solutions. Fusion Fuel’s patented miniaturized Proton Exchange Membrane (PEM) electrolyzer – the HEVO – and building-block approach to green hydrogen production, unlock unprecedented modularity, flexibility, and reliability in the design and deployment of small-to-midscale green hydrogen solutions. Its business lines include the sale of its electrolyzer systems, the development and sale of turnkey hydrogen plants, and the provision of end-to-end project engineering and advisory services. Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu, and by 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 Investor Relations Contact

ir@fusion-fuel.eu

FAQ

What is the minimum bid price requirement Fusion Fuel Green (HTOO) must meet for Nasdaq compliance?

Fusion Fuel Green (HTOO) must maintain a minimum bid price of $1.00 per share to comply with Nasdaq's listing requirements.

When is the deadline for Fusion Fuel Green (HTOO) to regain compliance with Nasdaq's minimum bid price requirement?

Fusion Fuel Green (HTOO) has until January 29, 2025, to regain compliance with Nasdaq's minimum bid price requirement.

How can Fusion Fuel Green (HTOO) regain compliance with Nasdaq's minimum bid price requirement?

Fusion Fuel Green (HTOO) can regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days before January 29, 2025.

What happens if Fusion Fuel Green (HTOO) doesn't meet Nasdaq's minimum bid price requirement by the deadline?

If Fusion Fuel Green (HTOO) doesn't meet the requirement by January 29, 2025, it may be granted an additional 180 calendar days to regain compliance, or face potential delisting from Nasdaq.