Leclanché SA: Equity investment and conversion Mittwoch, 05. Juli 2017 - 22:47

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
30th June, 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

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