VANCOUVER and TORONTO, Sept. 26,
2019 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP;
TSX: BLDP) today announced that the Company has been recognized by
the Toronto Stock Exchange for its strong 3-year share price
performance and named to the inaugural TSX30, a program
launched earlier today. The TSX30 program recognizes the top
30 performers on the Toronto Stock Exchange over the period
July 2016 to June 2019, based on share price appreciation.
Over the period July
1st, 2016 to June
30th, 2019, the price of BLDP shares on TSX rose
222% to C$5.35, the 12th
largest appreciation among all listed companies. Furthermore, as at
yesterday's market close the price of BLDP shares was C$7.18, representing an increase of 332% since
July 1st, 2016 and a
year-to-date 2019 increase of 95%.
"We are extremely proud to present the TSX30, a new
recognition program featuring some of the most compelling success
stories among our listed issuers, including companies operating in
traditional areas of strength like natural resources and also in
newly defined sectors like clean tech and cannabis," said Loui
Anastasopolous, President, Capital Formation, TMX Group. "TSX
listed companies play a vital role in Canada's capital markets and as we continue to
evolve into a global leader, TSX remains committed to our work in
support of this crucial ecosystem. Today, we congratulate the
companies included in the inaugural TSX30 for all their
achievements and look forward to continuing to serve them along
each stage of their growth path into the future."
Randy MacEwen, Ballard President and CEO noted, "We are proud
that our share price performance has resulted in our inclusion in
this first TSX30 program. We are particularly excited that
the urgent need for zero-emission mobility is now widely recognized
on a global basis, giving us confidence in the continued growth of
our company. Ballard leads the fuel cell industry in zero-emission
products to power buses, commercial trucks, trains, ships, cars and
other transport applications."
The TSX30 program considers all companies that have been
listed on the Toronto Stock Exchange for at least 3-years, with a
closing dividend-adjusted share price of at least C$0.50 and a market capitalization of at least
C$50 million as at June 30th, 2016. Of the 583 companies
that met these criteria, the 30 companies with greatest share price
appreciation over the period from July
1st, 2016 to June
30th, 2019 have been named to the inaugural
TSX30 program.
About Ballard Power Systems
Ballard Power Systems'
(NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for
a sustainable planet. The Company builds fuel cell products that
reduce customer costs and risks, and helps customers solve
difficult technical challenges or address new business
opportunities. To learn more about Ballard, please visit
www.ballard.com.
This release contains forward-looking statements concerning
anticipated product performance and other characteristics, product
deliveries and deployments. These forward-looking statements
reflect Ballard's current expectations as contemplated under
section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Any such
forward-looking statements are based on Ballard's assumptions
relating to its financial forecasts and expectations regarding its
product development efforts, manufacturing capacity, and market
demand.
These statements involve risks and uncertainties that may cause
Ballard's actual results to be materially different, including
general economic and regulatory changes, detrimental reliance on
third parties, successfully achieving our business plans and
achieving and sustaining profitability. For a detailed discussion
of these and other risk factors that could affect Ballard's future
performance, please refer to Ballard's most recent Annual
Information Form. Readers should not place undue reliance on
Ballard's forward-looking statements and Ballard assumes no
obligation to update or release any revisions to these forward
looking statements, other than as required under applicable
legislation.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities. The Ballard
Common Shares have not been registered under the United States
Securities Act of 1933, as amended, or the securities laws of any
other jurisdiction and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
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SOURCE Ballard Power Systems Inc.