ILUS Agrees to Swap Majority Stake in Quality Industrial Corp. for Future Majority Stake in Fusion Fuel Green (NASDAQ: HTOO)
ILUS has signed a Stock Purchase Agreement with Fusion Fuel Green (NASDAQ: HTOO) for the latter to acquire a 69.36% stake in Quality Industrial Corp (QIND). In exchange, ILUS will receive ordinary shares and convertible preferred shares, resulting in a 55.38% stake in Fusion Fuel on a fully diluted basis. The preferred shares conversion is pending Fusion Fuel shareholder approval and Nasdaq listing clearance. This strategic move aims to establish a profitable foundation for Fusion Fuel in the clean hydrogen sector while enabling QIND's expansion into European markets and Fusion Fuel's growth in Middle Eastern hydrogen engineering services.
ILUS ha firmato un Accordo di Acquisto di Azioni con Fusion Fuel Green (NASDAQ: HTOO) per l'acquisizione da parte di quest'ultima di una partecipazione del 69,36% in Quality Industrial Corp (QIND). In cambio, ILUS riceverà azioni ordinarie e azioni privilegiate convertibili, risultando in una partecipazione del 55,38% in Fusion Fuel su base pienamente diluita. La conversione delle azioni privilegiate è soggetta all'approvazione degli azionisti di Fusion Fuel e alla clearance per la quotazione su Nasdaq. Questa mossa strategica mira a stabilire una base profittevole per Fusion Fuel nel settore dell'idrogeno pulito, consentendo al contempo l'espansione di QIND nei mercati europei e la crescita di Fusion Fuel nei servizi ingegneristici per l'idrogeno in Medio Oriente.
ILUS ha firmado un Acuerdo de Compra de Acciones con Fusion Fuel Green (NASDAQ: HTOO) para que esta última adquiera una participación del 69.36% en Quality Industrial Corp (QIND). A cambio, ILUS recibirá acciones ordinarias y acciones preferentes convertibles, resultando en una participación del 55.38% en Fusion Fuel en base totalmente diluida. La conversión de las acciones preferentes está pendiente de la aprobación de los accionistas de Fusion Fuel y de la autorización para la cotización en Nasdaq. Este movimiento estratégico tiene como objetivo establecer una base rentable para Fusion Fuel en el sector del hidrógeno limpio, al mismo tiempo que permite la expansión de QIND en los mercados europeos y el crecimiento de Fusion Fuel en los servicios de ingeniería de hidrógeno en Medio Oriente.
ILUS는 Fusion Fuel Green (NASDAQ: HTOO)와 주식 매수 계약을 체결하여 후자가 Quality Industrial Corp (QIND)에서 69.36%의 지분을 인수합니다. 교환으로 ILUS는 보통주와 전환 우선주를 받아 Fusion Fuel에서 55.38%의 지분을 가지게 됩니다(완전히 희석된 기준). 우선주의 전환은 Fusion Fuel 주주의 승인과 Nasdaq 상장 승인 대기 중입니다. 이 전략적 조치는 Fusion Fuel이 청정 수소 분야에서 수익성 있는 기반을 마련하는 동시에 QIND의 유럽 시장 확장과 Fusion Fuel의 중동 수소 엔지니어링 서비스 성장에 기여하는 것을 목표로 합니다.
ILUS a signé un Accord d'Achat d'Actions avec Fusion Fuel Green (NASDAQ: HTOO) pour que ce dernier acquière une participation de 69,36 % dans Quality Industrial Corp (QIND). En échange, ILUS recevra des actions ordinaires et des actions privilégiées convertibles, entraînant une participation de 55,38 % dans Fusion Fuel sur une base entièrement diluée. La conversion des actions privilégiées est en attente de l'approbation des actionnaires de Fusion Fuel et de l'autorisation de cotation sur le Nasdaq. Ce déplacé stratégique vise à établir une base rentable pour Fusion Fuel dans le secteur de l'hydrogène propre tout en permettant l'expansion de QIND sur les marchés européens et la croissance de Fusion Fuel dans les services d'ingénierie en hydrogène au Moyen-Orient.
ILUS hat einen Aktienkaufvertrag mit Fusion Fuel Green (NASDAQ: HTOO) unterzeichnet, damit letzterer eine Beteiligung von 69,36 % an Quality Industrial Corp (QIND) erwirbt. Im Austausch wird ILUS Stammaktien und wandelbare Vorzugsaktien erhalten, was eine Beteiligung von 55,38 % an Fusion Fuel auf voll verwässerter Basis zur Folge hat. Die Umwandlung der Vorzugsaktien steht noch unter dem Vorbehalt der Genehmigung der Aktionäre von Fusion Fuel und der Genehmigung für die Nasdaq-Notierung. Dieser strategische Schritt zielt darauf ab, eine profitable Grundlage für Fusion Fuel im Bereich sauberes Wasserstoff zu schaffen und gleichzeitig QINDs Expansion in den europäischen Märkten sowie das Wachstum von Fusion Fuel im Bereich der Wasserstofftechnik im Nahen Osten zu ermöglichen.
- ILUS will acquire a majority stake (55.38%) in Nasdaq-listed Fusion Fuel Green
- Strategic expansion into European and Middle Eastern markets
- Potential uplisting benefits through association with Nasdaq-listed entity
- Preferred shares conversion dependent on shareholder approval and Nasdaq clearance
- Delayed timeline in executing company roadmap due to market conditions
NEW YORK, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Ilustrato Pictures International Inc. (OTC: ILUS) (“ILUS” or the “Company”) is a mergers and acquisitions company focused on acquiring and growing businesses in the public safety and industrial sectors. On November 18, 2024, the Company signed a Stock Purchase Agreement with Fusion Fuel Green PLC (NASDAQ: HTOO) (“Fusion Fuel”) and certain other shareholders of Quality Industrial Corp. for Fusion Fuel to acquire a
Fusion Fuel is a provider of innovative green hydrogen solutions that is currently realigning its business focus to emphasize hydrogen and energy solutions, along with engineering and advisory services. The acquisition of a majority stake in QIND is anticipated to establish a profitable and cash-flow-positive foundation for Fusion Fuel, thereby enabling it to satisfy current market demands while positioning itself for long-term growth opportunities within the clean hydrogen sector. ILUS believes that this transaction will facilitate QIND's aggressive growth plans, which aim to deliver a more comprehensive suite of upstream and downstream services in the energy sector. Furthermore, it will empower QIND to broaden its offerings into the European markets while simultaneously enabling Fusion Fuel to expand its hydrogen engineering services into the Middle East, where hydrogen is increasingly becoming a focal point.
ILUS CEO Nicolas Link stated, "We are pleased to announce the successful completion of this transaction. I want to thank both management teams for their dedicated and tireless efforts contributing to this achievement. I am particularly proud of the QIND team, who have demonstrated unwavering commitment and made significant sacrifices over the challenging past 18 months in pursuit of gaining a listing on a major exchange. By operating as a subsidiary of HTOO, which is listed on NASDAQ, a prominent exchange, QIND will be well-positioned to advance its aggressive mergers and acquisitions strategy.”
“I’m very excited about this next chapter in the future of ILUS. In 2021, we shared our roadmap with shareholders, outlining plans to acquire, incubate, and uplist multiple companies to create a mini conglomerate that could one day be a significant global force. Although the journey has been incredibly challenging and has taken longer than expected due to difficult market conditions, this initial deal, among several we have planned, showcases the team's resilience and determination to reach their goals against all odds. Other companies within the group are now on the same path toward uplisting, which should bring valuable returns to ILUS. Additionally, we are proud of our investment in Swifty Global, which is also on its journey to uplist and is nearing completion.” Mr. Link continued, “It’s true that Rome wasn’t built in a day—trust the process.”
ILUS plans to confirm its long overdue next shareholder meeting date for early 2025 and looks forward to laying out the roadmap for its next chapter.
For further information on ILUS, please see its communication channels:
Website: https://ilus-group.com
Twitter: @ILUS_INTL
Email: IR@Ilus-Group.com
Source: ILUS
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FAQ
What stake will ILUS receive in Fusion Fuel Green (HTOO) through the stock swap?
What percentage of Quality Industrial Corp (QIND) is Fusion Fuel acquiring from ILUS?
When did ILUS sign the Stock Purchase Agreement with Fusion Fuel Green?
What are the conditions for converting the preferred shares in the ILUS-Fusion Fuel deal?
