Hydrogenics Announces Completion of Share Consolidation

Hydrogenics Corporation today announced that it has completed the previously announced consolidation of its issued and outstanding common shares. The consolidation was implemented with a ratio of one post-consolidation share for every 25 pre-consolidation shares.

Hydrogenics' common shares, listed on the NASDAQ Global Market ("NASDAQ") and the Toronto Stock Exchange ("TSX"), will begin trading on a consolidated basis when the NASDAQ and TSX open on March 12, 2010. The consolidation has reduced the number of shares outstanding from approximately 105,049,666 to approximately 4,201,987.

Given the share consolidation, Hydrogenics expects to be in compliance with the NASDAQ Minimum Bid Price Rule beginning March 12, 2010. However, Hydrogenics anticipates that, in line with official procedures, NASDAQ will notify the Company next week that it is not in compliance as the stock is required to trade at or above $1.00 for ten consecutive trading days. Beginning March 26, 2010, the Company expects to be in full compliance and that any potential delisting proceedings will be terminated.

http://www.hydrogenics.com/

Source: Fuel Cell Today