Leclanché announces a CHF 16.5 million share capital increase
YVERDON-LES-BAINS, Switzerland, 6th June 2018. Leclanché SA (SIX: LECN), one of the world's leading energy storage solution companies, announces that on the 5th of June 2018, FEFAM1, the Company's largest shareholder, converted a CHF 16.5 million loan made to Leclanché in the form of Mandatory Convertible Notes (MCNs) in December 2017 into share capital.
Please note that this is separate to the new funding of CHF 75 million announced on 5th June 2018.
Hubert Angleys, CFO of Leclanché said: "We want to thank FEFAM for their continued commitment to Leclanché and support for the management and the Company's growth plan and objective to be EBITDA positive by 2020. This conversion into equity capital is a further sign of confidence that Leclanché's opportunity is now, following yesterday's announcement of CHF 75 million of funding."
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".
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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
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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T: +44 (0) 7775 522740
T: +44 (0) 7768 698 731
T: +41 (0)79 785 35 81
T: +41 (0) 79 703 87 28
US and Canada:
T: +1 (718) 986-1596
T: +1 (212) 808-4901
Anil Srivastava / Hubert Angleys
T: +41 (0) 24 424 65 00
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