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Leclanché SA

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EQS-Ad-hoc News vom 28.02.2018

Leclanché SA:Leclanché supports the request for an exemption from the mandatory takeover offer duty made by Christian Denizon and certain funds represented by Finexis SA and welcomes the approval of the request by the Swiss Takeover Board

Leclanché SA / Key word(s): Statement/Takeover

28-Feb-2018 / 07:35 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 supports the request for an exemption from the mandatory takeover offer duty made by Christian Denizon and funds represented by Finexis SA and welcomes the request approval by the Swiss Takeover Board.

Decision of the Swiss Takeover Board and statement of the board of directors of Leclanché SA contain updated estimates of Leclanché SA's financial situation.

YVERDON LES BAINS, Switzerland, 28th February 2018: Leclanché SA (SIX: LECN), one of the world's leading energy storage solution companies, announced today that its board of directors supports the waiver granted on 22nd February 2018 by the Swiss Takeover Board to Christian Denizon and certain funds represented by Finexis SA, Leclanché's largest shareholder, on the obligation to submit a take-over bid for exceeding the 49% voting rights-threshold for Leclanché SA's shares following the conversion of CHF 16'500'000 mandatory convertible notes into 11'000'000 shares of Leclanché SA.

Leclanché's board of directors notes that certain assumptions made and mentioned in the Swiss Takeover Board decision and in the attached board statement constitute an update on the company's financial information:

- estimates of Leclanché SA's financial situation (unaudited), i.e. potential loss for Q3 2017 of CHF 28 million and potential loss for FY2017 of CHF 40 million; and

- potential overindebtedness as of 31st December 2017 with an obligation set by PricewaterhouseCoopers, the auditors of Leclanché SA, to resolve the situation by 28th February 2018

More detailed information is available in the attached statement of the board of directors of Leclanché SA.

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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

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.
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Desirée Maghoo
T: +44 (0) 7775522740

Simon Barker
T:+44 (0)7866 314331

US and Canada:
Rick Anderson
T: +1 (718) 986-1596

Henry Feintuch
T: +1 (212) 808-4901

Shareholder, Analyst and Investor contacts:

Investor Contacts
Anil Srivastava / Hubert Angleys
Tel.: +41 (0) 24 424 65 00

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End of ad hoc announcement

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