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DUBLIN, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO) ("Fusion Fuel” or the "Company”), a leader in full-service green hydrogen solutions, today announced the successful closing of its previously disclosed transaction to acquire a controlling stake in Quality Industrial Corp. (OTC Pink: QIND) ("QIND”) through a share exchange. The completion of this strategic acquisition strengthens Fusion Fuel's position in the energy engineering, supply, and services business, creating a robust platform to capitalize on growing demand in the renewable energy and industrial gas sectors. As part of the transaction, Fusion Fuel has made several key leadership changes to align with its strategic vision. Effective immediately, John-Paul Backwell has been appointed Chief Executive Officer and will join the Company's Board of Directors. Mr. Backwell will continue in his current role as Chief Executive Officer of QIND. Additionally, Frederico Figueira de Chaves, formerly the Company's Chief Executive Officer, will transition to the role of Chief Strategy Officer and Head of Hydrogen Solutions. Gavin Jones continues as the Company's Chief Financial Officer. Remarking upon the changes, Jeffrey Schwarz, Chairman of the Board of Fusion Fuel said, "We are thrilled to welcome Mr. Backwell to our executive leadership team, further strengthening the depth and breadth of our management capabilities. His extensive multidisciplinary experience in business management, with particular emphasis on the scaling of companies, international market development, and mergers and acquisitions-will be instrumental in driving Fusion Fuel's growth and delivering long-term value to its stakeholders. Over the course of his more than two-decade career, Mr. Backwell has demonstrated exceptional leadership, holding key roles as Chief Executive, Managing Director, and both Executive and Non-Executive Director.” Mr. Schwarz continued, "In his new role as Chief Strategy Officer and Head of Hydrogen Solutions, Mr. Figueira de Chaves will focus on operational excellence and driving innovation in Fusion Fuel's core hydrogen engineering capabilities.” John-Paul Backwell added: "I am honored to lead Fusion Fuel at this pivotal moment. This transaction marks a significant milestone in the evolution of Fusion Fuel's business, providing the scale, synergies, and expertise needed to drive growth and deliver exceptional value to our stakeholders. Together with Frederico and the rest of the team, I am excited to build a world-class platform for engineering and advisory services across the energy and industrial sectors, helping to shape the future of energy and sustainability.” The Company plans to hold an investor presentation to provide an overview of the strategic rationale behind this transaction, the vision for the combined company, and its plans for sustained growth in the hydrogen and industrial gases markets. The date and time of the presentation will be announced over the coming days, with access details to follow on the Company's website. Nasdaq Compliance Update The Company has also announced that the hearing to appeal the delisting of its securities from Nasdaq has been scheduled for January 7, 2025. Management is confident that following the close of this transaction and the consolidation of financials, Fusion Fuel will meet the stockholder equity requirements for continued listing. About Fusion Fuel Green plc Fusion Fuel Green plc (NASDAQ: HTOO) is a leading provider of full-service energy engineering and advisory solutions, specializing in green hydrogen and broader industrial gas applications. Through its majority-owned subsidiary, Quality Industrial Corp., Fusion Fuel now offers an expanded portfolio of services, including the design, supply, installation, and maintenance of energy systems, as well as the transport and distribution of liquefied petroleum gas. The Company serves a diverse customer base spanning commercial buildings, mixed-use developments, heavy industries, and food service sectors, while continuing to drive innovation in the renewable energy space. Fusion Fuel is committed to advancing the global energy transition by delivering sustainable, efficient, and reliable energy solutions. Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu and following us on LinkedIn . A description of the Stock Purchase Agreement, dated November 19, 2024 (the "Purchase Agreement”), among the Company, QIND, and certain shareholders of QIND (the "Sellers”) is contained in a report on Form 6-K that was furnished by the Company to the Securities and Exchange Commission (the "SEC”) on November 20, 2024, and a copy of which was included as an exhibit to such Form 6-K. The description above is qualified in its entirety by reference to the full text of such exhibit. The Purchase Agreement sets forth material terms and conditions for the transaction that, upon consummation, resulted in Fusion Fuel's acquisition of approximately 70% of the issued and outstanding share capital of QIND. Certain post-closing requirements are applicable, including stockholder approval of related matters and Nasdaq clearance of a new initial listing application, and failure to satisfy such requirements within a certain period may result in the unwinding of the acquisition by the Company of the shares of QIND. A further description of these requirements is contained in a report on Form 6-K that is being furnished by the Company to the SEC on or around the date hereof. There can be no assurance that post-closing requirements for the acquisition will be met. 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, including without limitation, the ability of the Company, QIND, and the Sellers to obtain all necessary regulatory and other consents and approvals in connection with the acquisition, the Company's ability to complete the acquisition of QIND and integrate its business, obtain Nasdaq clearance of a new initial listing application in connection with the acquisition, and obtain stockholder approval of the matters to be voted on at a stockholders' meeting to approve matters required to be approved in connection with the Purchase Agreement. Fusion Fuel has based these forward-looking statements largely on its current expectations, including but not limited the ability of the investment reported on to be consummated as anticipated. 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 [email protected]
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SAN DIEGO , Nov. 26, 2024 /PRNewswire/ -- Robbins LLP informs investors that a class action was filed on behalf of persons and entities who purchased or otherwise acquired Match Group, Inc. (NASDAQ: MTCH) securities between May 2, 2023 and November 6, 2024 . Match Group, through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. For more information, submit a form , email attorney Aaron Dumas, Jr. , or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Match Group, Inc. (MTCH) Misled Investors Regarding its Business Prospects According to the complaint, on November 6, 2024 , Match Group published its Q3 2024 shareholder letter, disclosing that Tinder's monthly active user count was down 9% in Q3, which was the same rate of decline as in Q2, falling short of expectations for continued improvement. Further, Match Group's revenue per payer grew less than expected and some new features tested with Tinder users in the quarter negatively impacted subscription revenue, which the company said will likely also have an impact on fourth quarter revenue. Plaintiff alleges that Match Group materially understated the challenges affecting Tinder and, as a result, understated the risk that Tinder's monthly active user count would not recover by the time the Company reported its financial results for the third quarter of 2024. On this news, the price of Match stock fell by $6.77 per share, or 17.8%, to close at $31.11 per share on November 7, 2024 . What Now : You may be eligible to participate in the class action against Match Group, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by January 24, 2025 . A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP : Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Match Group, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. View original content to download multimedia: https://www.prnewswire.com/news-releases/shareholder-notice-robbins-llp-informs-stockholders-of-the-class-action-against-match-group-inc-302317038.html SOURCE Robbins LLPBulldogs cap sweep with shutout of BeaversOne Whitehorse housing facility set to open, another proceeding on time: Safe at Home
UCF, LSU face off with improved focus in mindSEOUL, South Korea , Nov. 21, 2024 /PRNewswire/ -- Hugel Inc., a leading global medical aesthetics company, said on Friday it will spur expansion in the botulinum toxin market of the Middle East and North Africa (MENA) via a strategic partnership with Dubai -headquartered aesthetic and medical distribution partner Medica Group. The two companies have recently entered into an agreement to bolster the distribution of Hugel's toxin Botulax in the key markets of the region. Hugel, which exports its own toxin to 64 markets including the US, Europe and China , the world's three largest toxin buyers, obtained sales approval for Botulax in the Middle East last year. Medica Group is a leading player in the region and has strong distribution networks through its head office in the United Arab Emirates (UAE) and branches in Saudi Arabia and Lebanon . The company distributes medical aesthetic products from about 30 global brands, proving their solid know-how in the field and strong execution capabilities in the MENA. The MENA is one of the fastest growing regions for medical aesthetics, driven by strong economic momentum, favorable demographic characteristics, increasing accessibility to social media as well as social and consumption transformation. Hugel's Executive Chairman, Suk Cha , commented on the partnership: "We are very pleased to enter into this strategic collaboration with Medica Group. The Middle East represents a key market for Hugel, with its rapidly growing demand for medical aesthetic treatments. We have chosen Medica Group as our distributor because they share our commitment to excellence and quality. Their proven expertise, extensive reach and deep understanding of the region make them the ideal partner to bring our Botulax product to this dynamic region. Botulax is recognized globally for its quality, and we are confident that, through this partnership, it will become a leading choice for medical professionals and patients in the Middle East and Africa ." Andre Daoud , CEO of Medica Group, highlighted the importance of this collaboration: "Our partnership with Hugel marks a key milestone for us as we continue to expand our portfolio and lead the aesthetics market with global solutions. The introduction of Botulax in the Middle East and Africa offers healthcare professionals access to a world-class botulinum toxin that is highly trusted for its quality, safety, and performance. This strategic partnership aligns with our mission to provide advanced, innovative products and services that meet the demands of the region's growing beauty and medical aesthetics market. Hugel's global expertise, combined with our deep local knowledge and network, will create tremendous value for our customers and their patients." About Hugel Established in 2001, Hugel is a leading global medical aesthetics company that manufactures injectables for skin rejuvenation such as botulinum toxin, hyaluronic acid fillers and skin boosters as well as absorbable sutures and cosmetics products. The company is the only South Korean supplier to the world's three largest botulinum toxin markets, the US, China and Europe . It exports medical aesthetic products and devices to around 70 countries and operates eight global subsidiaries in the US, Australia , Canada , Taiwan , China , Hong Kong and Singapore . About Medica Group A leading partner in the field of aesthetic medicine, Medica Group continues to push the boundaries of beauty and wellbeing in the region. Being at the forefront of the industry, the group is renowned for its innovative approach, state-of-the-art solutions with a solid commitment to delivering outstanding results and setting new standards in aesthetics. A trusted partner for international aesthetic brands, Medica showcases a commitment to excellence and quality through the technologies of its product and services, and the collaboration of the aesthetic medicine community. Contact: Jihyun Kim , Manager of the PR Team, Hugel jihyun.kim@hugel-inc.com View original content to download multimedia: https://www.prnewswire.com/news-releases/hugel-and-medica-join-forces-to-boost-botulinum-toxin-sales-in-middle-east-north-africa-302313729.html SOURCE HugelLost Gaels: New book celebrates the life of GAA members killed in the conflict
UCF, LSU face off with improved focus in mind
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Serina Therapeutics Secures $10 Million Financing to Continue Advancing Lead IND Candidate into Phase 1 Clinical Trial in Advanced Parkinson's Disease PatientsA Delaware judge has reaffirmed her ruling that must revoke ’s multibillion-dollar pay package. Chancellor Kathaleen St. Jude McCormick on Monday denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package. McCormick also rejected an equally unprecedented and massive fee request by plaintiff attorneys, who argued that they were entitled to legal fees in the form of Tesla stock valued at more than $5 billion. The judge said the attorneys were entitled to a fee award of $345 million. The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk’s 2018 compensation package. McCormick concluded in January that Musk engineered the landmark pay package in sham negotiations with directors who were not independent. The compensation package initially carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla’s stock price. Following the court ruling, Tesla shareholders met in June and ratified Musk’s 2018 pay package for a second time, again by an overwhelming margin. Defense attorneys then argued that the second vote makes clear that Tesla shareholders, with full knowledge of the flaws in the 2018 process that McCormick pointed out, were adamant that Musk is entitled to the pay package. They asked the judge to vacate her order directing Tesla to rescind the pay package. McCormick, who seemed skeptical of the defense arguments during an August hearing, said in Monday’s ruling that those arguments were fatally flawed. “The large and talented group of defense firms got creative with the ratification argument, but their unprecedented theories go against multiple strains of settled law,” McCormick wrote in a 103-page opinion. The judge noted, among other things, that a stockholder vote standing alone cannot ratify a conflicted-controller transaction. “Even if a stockholder vote could have a ratifying effect, it could not do so here due to multiple, material misstatements in the proxy statement,” she added. Meanwhile, McCormick found that the $5.6 billion fee request by the shareholder’s attorneys, which at one time approached $7 billion based on Tesla’s trading price, went too far. “In a case about excessive compensation, that was a bold ask,” McCormick wrote. Attorneys for the Tesla shareholder argue that their work resulted in the “massive” benefit of returning shares to Tesla that otherwise would have gone to Musk and diluted the stock held by other Tesla investors. They value that benefit at $51.4 billion, using the difference between the stock price at the time of McCormick’s January ruling and the strike price of some 304 million stock options granted to Musk. While finding that the methodology used to calculate the fee request was sound, the judge noted that the Delaware’s Supreme Court has noted that fee award guidelines “must yield to the greater policy concern of preventing windfalls to counsel.” “The fee award here must yield in this way, because $5.6 billion is a windfall no matter the methodology used to justify it,” McCormick wrote. A fee award of $345 million, she said, was “an appropriate sum to reward a total victory.” The fee award amounts to almost exactly half the current record $688 million in legal fees awarded in 2008 in litigation stemming from the collapse of Enron. THR Newsletters Sign up for THR news straight to your inbox every day More from The Hollywood Reporter
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‘What happened to the regular white and yellow straw?’: McDonald’s customer demands answers after receiving new strawThe Adani Group has categorically denied allegations of bribery and corruption that were reportedly filed by the US Department of Justice and the US Securities and Exchange Commission against its founder Gautam Adani, his nephew Sagar Adani, and Adani Green Energy's MD and CEO Vineet Jaain. In a formal filing with stock exchanges, the group labeled these accusations as 'incorrect'. Adani Green Energy Ltd. clarified, "Media articles alleging that Gautam Adani, Sagar Adani, and Vneet Jaain have been charged with violations of the US Foreign Corrupt Practices Act (FCPA) are inaccurate." The company insisted that none of the leaders have been implicated in the DOJ or SEC indictments. The official filing further explained that neither Gautam Adani nor the others were mentioned in the FCPA violation conspiracy and obstruction of justice counts detailed in the DOJ's indictment. These charges specifically pertain to individuals associated with another company, Azure Power. Adani officials are primarily facing allegations related to securities and wire fraud conspiracies, without substantial evidence of any bribes being paid to Indian officials. The Adani Group remains a major player in the international infrastructure sector despite recent financial upheavals, following the indictment news. (With inputs from agencies.)
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