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Leclanché SA

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EQS-Ad-hoc News vom 07.06.2018

Leclanché SA: Leclanché shareholders approve all Board proposals at Annual General Meeting

Leclanché SA / Key word(s): AGM/EGM/AGM/EGM

07-Jun-2018 / 07:01 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 shareholders approve all Board proposals at Annual General Meeting

- Approval of share capital increase

- One new board member elected

YVERDON LES BAINS, Switzerland, 7 June 2018: Leclanché SA (SIX: LECN), one of the world's leading energy storage solution companies, today announces that its shareholders approved all the proposals of the Board of Directors at its 2018 Annual General Meeting held this morning in Yverdon-les-Bains.

In connection with the operating and growth plans of the Company, shareholders approved the increase of the authorized share capital to an amount of CHF 60'511'905.00 (40'341'270 shares) and of the conditional share capital to an amount of CHF 56'011'905.00 (for 37'341'270 shares).
Shareholders also elected Mr. Toi Wai David Suen[1] as a new board member. The CEO, Mr. Anil Srivastava, provided a comprehensive overview on 2017 achievements and stressed that the new funding facilities announced on 5 June 2018, will enable the Company to deliver a milestone of 100 MWh of energy storage systems in operation this current year. The Company is expected to be EBITDA positive by 2020.

"We sincerely thank our shareholders for their continuous support to Leclanché and its management team. We are grateful to the shareholders for approving all proposed resolutions", said Jim Atack, Chairman of Leclanché.

The Chairman of Leclanché noted his appreciation of Ms. Cathy Wang, Mr. Adam Said and Mr. Pierre-Alain Graf, whose term of office came to an end and did not seek re-election.
Mr. Adam Said commented: "It has been a privilege to work with my fellow board members and with Leclanché's management, as the 100-year-old company transitioned into a leading energy storage solution provider. I am confident that with the substantial investment recently announced and a built-up order book of over 50 MWh, Leclanché can meet its goal of becoming a world leader in the energy storage and mobility markets. I look forward to helping Leclanché in my capacity as a shareholder as it continues on its growth trajectory."
Mr Pierre-Alain Graf said: "Serving the board of Leclanché has been fascinating and very interesting. I am convinced that the recently announced financing will support the Company to achieve its growth targets. I look very much forward to seeing the Company become an important battery player in this emerging global market."

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About Leclanché
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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Media contacts:

Desiree Maghoo
T: +44 (0) 7775522740

Laure Lagrange
T: +44 (0)7768 698 731

Thierry Meyer
T: +41 (0)79 785 35 81

Thomas Balmer
T: +41 (0) 79 703 87 28

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

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

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

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[1] Mr. Toi Wai David Suen, is a Hong Kong citizen born in 1962. Mr. Suen is meant to join Leclanché's Board of Directors as an independent director. With 25 years in the banking industry, Mr. Suen's expertise covers fields as diverse as Management, Equity Capital Markets, CRM, IPO and Secondary Stock Markets, Syndication and Organization, and Roadshow Presentation. Mr. Suen also worked in the public sector as Financial Analyst. He previously operated as IT Senior System Analyst, drove MRP implementation and several other key software implementations. Mr. Suen started his career in accounting and finance, and had an experience as Purchasing Manager. He holds a Bachelor degree in Computer Sciences (B. Sc.) of the University of Alberta in Edmonton, and a Master of Business Administration (MBA) of the Florida International University, in Miami.

End of ad hoc announcement

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