05.01.2015 – 16:45

Leclanché SA

DGAP-Adhoc: Leclanché Shareholders Approve All Board Proposals at Extraordinary General Meeting

EQS Group-Ad-hoc: Leclanché SA / Key word(s): AGM/EGM
Leclanché Shareholders Approve All Board Proposals at Extraordinary
General Meeting

05.01.2015 / 16:35
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Leclanché

Press Release

Leclanché Shareholders Approve All Board Proposals at Extraordinary General
Meeting

  - With its CHF 21 million funding secured, Leclanché will now be able to
    proceed with the execution of its 2015 operating and growth plans

  - Election of two new board members

Yverdon-les-Bains, Switzerland, 05 January 2015 - Leclanché S.A. (SIX Swiss
Exchange: LECN), specializing in the production of large-format lithium-ion
cells and energy storage solutions, announced today that its shareholders
approved all the proposals of the Board of directors at its 2015
Extraordinary General Meeting held today in Yverdon-les-Bains. Shareholders
approved all the resolutions relating to the CHF21 million financing of the
company announced early December 2014 in connection with the 2015 operating
and growth plans of the company. Shareholders also approved the election
of, two new board members nominated by Recharge Aps, Scott Campbell Macaw
and Robert Aron Robertsson.

"We sincerely thank our shareholders for approving all proposed
resolutions, as this means that the mid-term funding of the company is now
secured. It puts the Company on a solid footing to swiftly implement its
Operating and Growth Plans with the objective to deliver sustainable
profitable growth," commented Jim Attack, Chairman of Leclanché.

Commenting today's resolutions, the newly elected Board members, Scott
Macaw and Robert Robertsson, added: "We look forward to supporting the
Company in its mission to deliver sustainable profitable growth. We believe
in the company and look forward to participating in its exciting future
prospects."

This financing will provide Leclanché with the necessary working capital to
implement its 2015 Operating Plan, and until the Company reaches
steady-state cashflow breakeven. Assuming successful implementation of the
2015 Operating Plan, Leclanché believes it can achieve this objective by
the end of 2015. In addition, this facility can be used for funding the
company's 2015 Growth Plan that includes the expansion investment, together
with the associated working capital required, for such growth initiatives.

The Board will shortly proceed to implement the capital Increase and file
the necessary registrations in the commercial register.

Summary of the approved resolutions

Shareholders of Leclanché S.A. approved:
 I. the creation of conditional capital for convertible loans and bonds in
    the maximum amount of up to CHF 11,985,900 consisting of up to
    7,990,600 registered shares of CHF 1.50 nominal value each,

II. the increase of the conditional capital reserved for employee
    participation purposes up to a maximum amount of CHF 4,500,000,
    consisting of up to 3,000,000 registered shares at CHF 1.50 nominal
    value each,

III. the creation of authorized share capital up to a maximum amount of CHF
    16,485,900 by issuing a maximum of 10,990,600 fully paid up registered
    shares with a nominal value of CHF 1.50 each with the ability to
    exclude pre-emptive rights in favour of Recharge or other financing
    providers,

IV. the election of Scott Campbell Macaw and Robert Aron Robertsson to the
    Board of Directors,and,

 V. an ordinary capital increase up to the maximum amount of CHF 4,500,000,
    consisting of up to 3,000,000 registered shares of CHF 1.50 nominal
    value each.

Based on the fixed conversion prices for Facility A and Facility B and
assuming full conversion at maturity of the Recharge Facility (i.e.
principal, interest and fees), together with full conversion of the
Oakridge Global Energy Solutions, Inc.' Facility, Recharge would have a
shareholding in the company of 39%, whilst the participation of Precept
would be reduced to 33%.

Operating and growth plans 2015

The 2015 Operating Plan sets out the strategy, key objectives and actions
to complete the turnaround plan commenced already in 2013 to deliver a path
to sustained profitability, and incorporates the 2015 Growth Plan, which
positions the Company as a complete Battery Systems Provider with the
ability to address the full spectrum of power-intensive and high
energy-density applications.

For this purpose, the 2015 Growth Plan requires:

(a) the acquisition or licensing of Battery Module designs and
    best-in-class Battery Management Systems software, widely known as BMS

(b) the addition of high energy-density lithium-ion chemistries such as LFP
    or graphite/NMC, coupled with the Company's Titanate chemistry to
    address power-intensive applications,

(c) the provision of packaged Energy Storage Solutions for electricity
    markets, focused on Diesel-coupled systems, PV-coupled systems and
    Grid-coupled ancillary services, and

(d) the provision of packaged solutions for Electrified Transport and
    Industrial Machinery sectors, such as buses, marine systems and
    materials handling equipment.

About Leclanché

Leclanché's strategy is to become one of the leading lithium-ion cell
producers and solution providers for renewable energy storage systems in
Europe. Its strategic priorities are stationary home electrical energy
storage applications and expansion into the stationary industrial and grid
electricity storage markets. Through participation in research consortia
focusing on hybrid and E-mobility applications, Leclanché is positioned to
take advantage of new market opportunities.

Through a unique, patented ceramic separator technology and focus on
lithium-titanate technology, Leclanché manufactures large-format
lithium-ion cells, optimized for safety and cycle-life, in a fully
automated production process. The newly installed production line will have
an annual capacity of one million cells or 76 MWh.

Leclanché was founded in 1909 in Yverdon-les-Bains. Through the integration
of a spin-off from the Fraunhofer-Gesellschaft in 2006, the company evolved
from a traditional battery manufacturer to become a leading developer and
manufacturer of lithium-ion cells in Europe. Leclanché currently employs
120 staff and is listed on the SIX Swiss Exchange (LECN). The company has
its headquarters in Yverdon-les-Bains (Switzerland) and production
facilities in Willstätt (Germany).

www.leclanche.eu

Media contact:

Christophe Lamps, Dynamics Group S.A.: Telephone: +41 79 476 26 87, 
cla@dynamicsgroup.ch

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.

End of ad hoc announcement

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05.01.2015 News transmitted by EQS Schweiz AG. www.eqs.com - news
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The issuer is responsible for the contents of the release.

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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:      Foreign Exchange(s) SIX


End of News    EQS Group News-Service
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