Leclanché SA: Recharge and Bruellan convert their entire loan facilities into Leclanché shares Dienstag, 21. Juni 2016 - 07:41

Leclanché SA / Key word(s): Miscellaneous
Leclanché SA: Recharge and Bruellan convert their entire loan facilities
into Leclanché shares

21.06.2016 / 06:40
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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Recharge and Bruellan convert their entire loan facilities into Leclanché
shares

  - Two of Leclanché's key investors converts the final part of their loans
    established to support the Company Growth Plan.

  - Recharge completes its conversion of CHF 27.2 million loan to
    Leclanché, significantly deleveraging the Company

  - The Conversion of the Mandatory Convertible Note happens 6 months ahead
    of mandatory convertible date.

YVERDON LES BAINS, Switzerland, [end] of June 2016: Recharge A/S (formally
Recharge ApS) and Bruellan, two of Leclanché's key shareholders, completed
the conversion of their entire loan facilities into shares of Leclanché SA,
based on the convertible loan agreement dated 7 December 2014 (the loan
facility B) and the note agreement dated 16th December 2015 (the Mandatory
Convertible Notes).

Recharge finalizes its conversion of the entire CHF 27.2 million
convertible loan including its CHF 1.2 million Mandatory Convertible Note
dated 16th December 2015, and the CHF 16.8 million conversion dated July
2015.

Furthermore, Bruellan converts its CHF 1.2 million Mandatory Convertible
Note. Therefore, the entire Mandatory Convertible Notes is now converted
into Leclanché shares 6 Months ahead of the mandatory convertible date of
December 15th 2016.

The total issued shares of Leclanché is now 42'307'988.

Scott Macaw, director of Recharge A/S, commented: «We are very pleased with
the recent fast growth development of the Company. The Management team has
proved its capabilities to win and to deliver large scale energy storage
projects on a turn-key basis. We are very confident the Company is
successfully executing its growth plan ».

Jean-Paul Tissières, partner of Bruellan also pointed out: «Bruellan
Corporate Action Fund has been supporting the Company since 2013.The energy
storage industry is currently under fast growth perspective supported by
the realisation of large scale commercial projects in North America and
soon Europe. We are pleased with the recent developments which proved
Leclanché ability to secure, manufacture and deliver commercial projects
worldwide ».

"Recharge and Bruellan have continuously been strong supporters and
strategic investors in Leclanché. We are extremely thankful for their
invaluable support which has enabled us to launch our growth plan in
December 2014, secure and execute landmark projects. Their support has
positioned Leclanché into one of the global leading players in the energy
storage fast growing markets" concludes CEO Anil Srivastava.



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About Leclanché
Leclanché is a fully vertically integrated battery energy storage solution
provider. Leclanché designs, manufactures and delivers customized energy
storage solutions for residential and industrial applications, electricity
grids, as well as hybridization for mass transport systems such as bus
fleets and ferries. Established in 1909, Leclanché has been a reliable
partner for 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. Since 2006, the company moved from a traditional battery
producer to become one of the first developers, manufacturers and provided
of lithium-ion cells in Europe. Leclanché's BESS are optimized for various
applications, in particular for the integration of renewable energy, diesel
fuel reduction, electricity grid-connected ancillary services, peak power
shaving for heavy industries, as well as for heavy duty transportation in
buses, trams, trains or maritime vessels. Leclanché products are
characterized by a very high cycle stability (both for cells with titanate
and graphite anodes) and industry-leading long service life resulting into
reduced total cost of ownership. With its patented separator technology,
which is a core element of lithium-ion batteries, Leclanché is able to make
cells with very good safety characteristics, under a highly automated
production process. Leclanché operates a fully automated plant for the
production of large format lithium-ion cells at an annual maximum capacity
of up to one million cells and is capable of running multiple chemistries
through production for different cell characteristics. In addition,
Leclanché offers a number of specialized battery systems through its
Portable Business Unit, such as customer-specific energy storage systems
for defence and medical applications. Leclanché also distributes primary
and secondary batteries and accessories of other producers.

Leclanché is listed on the Swiss stock exchange. 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.

* * * * *

Media contacts:
Worldwide, except U.S. and Canada:
Jacques Boppe / Florent Gaillard
Tel.: +41 (0) 24 424 65 00
E-Mail: communication@leclanche.com

U.S. and Canada:
Rick Anderson / Henry Feintuch
Tel.: +1 (718) 986-1596 / +1 (212) 808-4901
E-Mail: leclanche@feintuchpr.com