25.06.2018 – 07:10

Leclanché SA

EQS-Adhoc: Leclanché SA: Leclanché receives CHF 20 million investment commitment from the recently announced acquisition and JV facility of CHF 50 million

EQS Group-Ad-hoc: Leclanché SA / Key word(s): Financing/Financing
Leclanché SA: Leclanché receives CHF 20 million investment commitment from the
recently announced acquisition and JV facility of CHF 50 million

25-Jun-2018 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

--------------------------------------------------------------------------------
 

Leclanché receives CHF 20 million investment commitment from the recently
announced acquisition and JV facility of CHF 50 million

-CHF 20 million investment approved by FEFAM[1]to set up a Joint Venture in
India

- FEFAM agrees to convert CHF 24 million of its debt into equity

- Leclanché terminates non-binding agreement with potential investor disclosed
on 5  June

 

YVERDON LES BAINS, Switzerland, 25 June 2018:Leclanché SA (SIX: LECN), one of
the world's leading energy storage solution companies, today announces that
FEFAM, Leclanché's largest shareholder, has approved an investment of up to CHF
20 million to set up a Joint Venture in India from the funding facility to
finance acquisitions and joint ventures, as announced on 5 June.

FEFAM has confirmed its existing plans to further convert CHF 24 million of its
debt into equity in order to help strengthen the balance sheet of the Company,
subject to the approval by the Swiss Takeover Board and completion of the due
process of capital increase. This follows FEFAM's share capital increase of CHF
16.5 million announced on 6 June. The conversion into equity is in line with the
Company's objective to continue to attract equity-based growth capital.

Further, Leclanché's Board has decided to terminate the non-binding term sheet
with a potential strategic investor, which was announced on 5 June, as parties
could not reach an agreement on terms and conditions of the funding and the
timeline of the funding.

Jim Atack, Chairman of the Company, said:"The Board has reviewed the recent
significant positive funding arrangements with FEFAM. These arrangements include
an investment of CHF 75 million, announced on 5 June, an agreement to convert a
large of part of its debt into equity subject to the Swiss Takeover Board's
approval, and lastly, the approval of an investment in a potential joint venture
in India, which we look forward to updating the market about in due course.

As an outcome of this review, coupled with significant operational improvements
in the Company well underway, the Company will continue to seek potential
strategic investors to increase its overall corporate funding to between CHF 100
million and CHF 125 million."

As previously stated, the Company is on track to be EBITDA positive by 2020.

The opportunity for Leclanché is now. We have a strong order book and pipeline
and we have never been in a better position to meet the needs of the disruptors
and incumbents, who are changing the way that we produce, distribute and consume
electricity and how we transport people and products, as we move towards a clean
energy future.

About Leclanché
Headquartered in Switzerland, Leclanché SA is a leading provider of high quality
energy storage solutions designed to accelerate our progress towards a clean
energy future.

Leclanché's history and heritage is rooted in over 100 years of battery and
energy storage innovation and the Company is a trusted provider of energy
storage solutions globally. This coupled with the Company's culture of German
engineering and Swiss precision and quality, continues to make Leclanché the
partner of choice for both disruptors, established companies and governments who
are pioneering positive changes in how energy is produced, distributed and
consumed around the world.

The energy transition is being driven primarily by changes in the management of
our electricity networks and the electrification of transport, and these two end
markets form the backbone of our strategy and business model. Leclanché is at
the heart of the convergence of the electrification of transport and the changes
in the distribution network. Leclanché is the only listed pure play energy
storage company in the world, organised along three business units: stationary
storage solutions, etransport solutions and specialty batteries systems.
Leclanché is listed on the Swiss Stock Exchange (SIX: LECN).

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.

* * * * *

Contacts


Media contacts:

Europe/global:
Desiree Maghoo
T: +44 (0) 7775 522 740
E-mail:dmaghoo@questorconsulting.com

Laure Lagrange
T: +44 (0) 7768 698 731
E-mail:llagrange@questorconsulting.com

Switzerland:
Thierry Meyer
T: +41 (0) 79 785 35 81
E-mail:tme@dynamicsgroup.ch

Thomas Balmer
T: +41 (0) 79 703 87 28
E-mail:tba@dynamicsgroup.ch

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
T: +41 (0) 24 424 65 00
E-mail:invest.leclanche@leclanche.com

# # #[1]FEFAM means: AM INVESTMENT SCA, SICAV-SIF - Liquid Assets Sub-Fund,
together with FINEXIS EQUITY FUND - Renewable Energy Sub-Fund, FINEXIS EQUITY
FUND - Multi Asset Strategy Sub-Fund, FINEXIS EQUITY FUND - E Money Strategies
Sub-Fund (also called Energy Storage Invest) and, all these funds being in
aggregate the main shareholder of Leclanché, hereunder referred to as "FEFAM".

--------------------------------------------------------------------------------
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

--------------------------------------------------------------------------------

698191  25-Jun-2018 CET/CEST