Leclanché SA / Key word(s): Capital Increase
03.04.2014 07:03

Release of an ad hoc announcement pursuant to Art. 53 KR

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Press Release

Leclanché: publication of the exact nominal amount by which the share capital shall be increased

- The Board of directors proposes increase the ordinary capital by CHF 10,703,782.50 by issuing a total of 7,135,855 new shares
Yverdon-les-Bains, Switzerland, April 3, 2014 - Leclanché S.A. (SIX Swiss Exchange: LECN), specialized in the production of large-format lithium-ion cells and energy storage solutions, today announced that the Board of directors proposes to increase the ordinary capital of the company by CHF 10,703,782.50 by issuing a total of 7,135,855 new shares. This proposal will be submitted to the approval of Leclanché' shareholders during the Annual General Meeting, which will take place today April 3, 2014 at 11:00 a.m. in Yverdon-les-Bains.

This announcement follows the publication of the agenda of the Annual General Meeting on March 13, 2014, in which the exact amount of the nominal amount had still to be confirmed prior to the Annual Meeting.
Pursuant to the terms of the CHF 17 million Senior Secured Convertible Loan Agreement entered into by the Company with Precept Fund Management SPC acting on behalf of Precept Segregated Fund Portfolio ("Precept") on July 9, 2013, Precept have submitted a letter to Leclanché SA on March 31, 2014 electing to convert CHF10,703,782.50 of their outstanding loan, including accumulated interest at CHF1.50 per share, into 7,135,855 ordinary shares ("Conversion Letter"). The increase of the share capital being proposed at the Annual General Meeting is pursuant to the Conversion Letter.
In connection with this conversion and to bring the nominal value of the shares in line with the conversion price under the convertible loan, the Board of Directors proposes shareholders to approve two following resolutions in addition to the other customary resolutions:
(i) a reduction of the share capital of the company of CHF 8,158,607.87 by way of par value reduction from currently CHF 2.11 to CHF 1.50 per share; in addition, the Board of Directors proposes to amend Article 3 quarter and Article 3 quinquies of the Articles of Association so that the Company will be able to source any convertible loan that Precept may grant to the Company in the future (if any) out of the authorized capital (Article 3 quarter) or the conditional capital (Article 3     quinquies); and

(ii) an ordinary capital increase of CHF 10,703,782.50 through the issuance of 7,135,855 new registered shares with a nominal value of CHF 1.50 for the conversion of the Precept loan; the pre-emptive rights are     withdrawn in favour of Precept.

Upon acceptance of the proposed capital increase, Precept would hold 10,278,240 shares representing 50.1% of the issued share capital of Leclanché SA.

The Annual General Meeting of shareholders will be held today April 3, 2014 at 11:00 a.m. (doors open at 10.30 a.m.), at Y-PARC, Rue Galilée 15, CH-1400 Yverdon-les-Bains.

Documentation

The agenda concerning the Annual General Meeting can be downloaded at the Company's web site:
http://www.leclanche.eu/img/140403_Leclanche_AGM_agenda.pdf
About Leclanché

Leclanché's strategy is to become one of the leading lithium-ion cell producers and solution providers for energy storage systems in Europe. Its strategic priorities are to develop and market energy storage products for home, industrial markets and grid applications and to grow its existing businesses of developing portable energy storage systems for military, medical and industrial applications. It also includes providing a range of professional energy storage systems to a diversified customer base. 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 more than 100 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.


03.04.2014 News transmitted by EQS Schweiz AG. 
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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:                 SIX
 
End of Announcement EQS Group News-Service  

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