05.07.2017 – 21:49

Leclanché SA

EQS-Adhoc: Leclanché SA: Equity investment and conversion

EQS Group-Ad-hoc: Leclanché SA / Key word(s): Investment/Funds
Leclanché SA: Equity investment and conversion

05-Jul-2017 / 21:46 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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Leclanché growth financing update

- Equity investment and conversion


YVERDON LES BAINS, Switzerland, 5th July 2017:Leclanché SA (SIX: LECN), one of
the world's leading energy storage solution companies, announced today a funding
update.

Golden Partner and its affiliates, collectively Leclanché's largest shareholder,
have subscribed to an additional CHF 3.5 million in shares in the Company. This
is in conjunction with the conversion by our key shareholders Bruellan and
Trialford of their respective CHF 1 million and CHF 0.5 million convertible
notes into equity.

The company has received confirmation from ACE, also acting as representative of
JADE, that they do not intend to enforce their security rights pursuant to the
Convertible Loan Agreement which was due to expire on 30thJune, due to ongoing
discussions with a view to entering into a binding agreement in connection with
the restructuring measures to be put in place by the Company.

The Company wishes to sincerely thank these major shareholders and Noteholders
for their continued support. Leclanché is working with them to raise the
required capital to finance its growth plan, following two successful years of
expansion.

Funding options include a rights issue, private placement with institutional
shareholders and a dual-listing on a North American exchange. As per Leclanché's
announcement on 7th June, exploratory discussions to list in North America, the
fastest growing energy storage market in the world, have highlighted that there
is significant investor appetite for Leclanché.

While Leclanché continues to work to raise the substantial capital required to
deliver its business plan, delivery of these funds could be delayed, risking the
Company's planned results. Leclanché will provide a funding status update to
shareholders and the market by mid-July.

In two years, Leclanché has delivered a revenue increase of 250 per cent, and
generated an order book of more than 90 MWh in stationary projects.

On 26th June Leclanché announced a worldwide deal with Skoda Electric in which
Leclanché will provide Skoda Electric with battery solutions for its electric
bus expansion strategy. In addition to this Leclanché is also in advanced
negotiations with an automotive systems integrator for a large volume contract
in India for which test units are being shipped shortly.

 

About Leclanché

Leclanché is one of the world's leading fully vertically integrated energy
storage solution providers. It delivers a wide range of energy storage solutions
for homes, small offices, large industries, electricity grids, as well as
hybridization for mass transport systems such as bus fleets and ferries.
Established in 1909, Leclanché has been a trusted provider of battery energy
storage solutions for over 100 years. Founded in the tradition of Georges
Leclanché, the inventor of the dry cell battery, Leclanché today has a rich
portfolio of Battery Energy Storage Systems (BESS) that include bespoke battery
systems from industry leading lithium-ion solutions.

Leclanché is listed on the Swiss stock exchange, and is the only listed
pure-play energy storage company in the world.

SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9

Disclaimer
This press release contains certain forward-looking statements relating to
Leclanché's business, which can be identified by terminology such as
"strategic", "proposes", "to introduce", "will", "planned", "expected",
"commitment", "expects", "set", "preparing", "plans", "estimates", "aims",
"would", "potential", "awaiting", "estimated", "proposal", or similar
expressions, or by expressed or implied discussions regarding the ramp up of
Leclanché's production capacity, potential applications for existing products,
or regarding potential future revenues from any such products, or potential
future sales or earnings of Leclanché or any of its business units.

You should not place undue reliance on these statements. Such forward-looking
statements reflect the current views of Leclanché regarding future events, and
involve known and unknown risks, uncertainties and other factors that may cause
actual results to be materially different from any future results, performance
or achievements expressed or implied by such statements. There can be no
guarantee that Leclanché's products will achieve any particular revenue levels.
Nor can there be any guarantee that Leclanché, or any of the business units,
will achieve any particular financial results.

* * * * *
Europe/global:
Desirée Maghoo
T: +44 (0) 7775522740
E-mail:dmaghoo@questorconsulting.com

Simon Barker
T:+44 (0)7866 314331
E-mail:sbarker@questorconsulting.com

US and Canada:
Rick Anderson
T: +1 (718) 986-1596

Henry Feintuch
T: +1 (212) 808-4901
E-mail:leclanche@feintuchpr.com

Investor Contacts
Anil Srivastava / Hubert Angleys
Tel.: +41 (0) 24 424 65 00
E-Mail:invest.leclanche@leclanche.com

# # #

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End of ad hoc announcement------------------------------------------------------

Language: English

Company:  Leclanché SA

          Av. des Sports 42

          1400 Yverdon-les-Bains

          Switzerland

Phone:    +41 (24) 424 65-00

Fax:      +41 (24) 424 65-20

E-mail:    investors@leclanche.com

Internet: www.leclanche.com

ISIN:     CH0110303119, CH0016271550

Valor:    A1CUUB, 812950

Listed:   SIX Swiss Exchange



 

End of Announcement EQS Group News Service

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589937  05-Jul-2017 CET/CEST