Fusion Fuel announces 1-for-35 reverse share split to regain Nasdaq compliance

Fusion Fuel (HTOO) announced a 1-for-35 reverse share split of the company’s Class A Ordinary Shares by way of a share consolidation. The company’s Class A Ordinary Shares will continue to trade on Nasdaq under the symbol “HTOO” and will begin trading on a split-adjusted basis when the market opens on Monday, July 14. The new CUSIP number for the company’s Class A Ordinary Shares following the Reverse Share Split will be G3R25D 209. The reverse share split is intended to enable the company to regain compliance with the minimum bid price requirement for continued listing on Nasdaq. In addition, shareholders approved a resolution to increase the company’s authorized share capital by such amount as is necessary to ensure that, following the reverse share split, the company shall have 100M authorized Class A Ordinary Shares. Accordingly, every 35 of the issued and outstanding Class A Ordinary Shares of the company as of the effective time of the reverse share split will be consolidated into one Class A Ordinary Share. The number of issued and outstanding Class A Ordinary Shares will adjust from approximately 27,418,159 shares to approximately 783,376 shares. The nominal value of each of the Class A Ordinary Shares will be adjusted to $0.0035. The other terms of the Class A Ordinary Shares will not be affected.