Leclanché announces the deferral of the publication of its 2019 annual report
YVERDON-LES-BAINS, Switzerland, May 1st, 2020 - Leclanché requested and has been granted an extension by SIX Exchange Regulation AG of the regulatory deadline for the publication of its 2019 annual report, from April 30th, 2020 to June 15th, 2020.
Leclanché encountered several obstacles in the finalization of its 2019 annual report including:
- The late substitution of a planned debt-to-equity conversion in order to remedy an over-indebtedness situation prior to the finalization of the 2019 financial statements with a subordination of the same amount of debt owed to FEFAM as well as negotiations to obtain commitments from potential investors, prevented Leclanché from finalizing the going concern statement of its 2019 annual report and held up several audit tasks.
- The Covid-19 situation significantly slowed down the work at Leclanché relating to the audit, because the employees involved in the preparation of the financial statements had to work from home (which complicated access to certain information) and had additional workload in the Covid-19 Situation, thus preventing the finalization of Company's key financial figures.
The Company is working hard to close the remaining outstanding items with its auditors and Board of Directors and remains confident that it will be able to publish its 2019 annual report before or on June 15th, 2020.
In its decision of April 29th, 2020, SIX Exchange Regulation AG requested Leclanché to insert the below excerpt in this press release:
"The exemption application of Leclanché SA (Issuer) dated April 24th, 2020 requesting an extension of the deadline to publish its 2019 annual report and to file such report with SIX Exchange Regulation AG until June 15th, 2020 at the latest is granted with the following reservation (lit. a) and under the following conditions (lit. b):
a. SIX Exchange Regulation AG reserves the right to suspend trading of the registered shares of the Issuer in case its 2019 annual report is not published in accordance with the provisions on ad hoc publicity (Art. 53 of the Listing Rules [LR] in connection with the Directive on Ad hoc Publicity [DAH]) and not filed with SIX Exchange Regulation AG until Monday, June 15th, 2020, 11.59 pm CET, at the latest.
b. Leclanché SA is required to publish a notice in accordance with the provisions on ad hoc publicity (art. 53 LR in connection with the DAH) concerning this decision until Monday, May 4th, 2020, 7.30 am CET, at the latest. The notice must contain:
- the unaltered reproduction of the wording of para. I. of this decision, placed in a prominent position;
- the reasons for the application of the Issuer requesting an extension of the deadline to publish its 2019 annual report and to file such report with SIX Exchange Regulation AG.
c. Leclanché SA is required to publish a notice in accordance with the provisions on ad hoc publicity (art. 53 LR in connection with the DAH) concerning this decision until Monday, May 18th, 2020, 7.30 am CET, at the latest. The notice must contain the unaudited key figures such as net revenues, EBITDA, EBIT, profit/loss, balance sheet total, equity etc. for the annual results 2019."
For more information, write to firstname.lastname@example.org or visit www.leclanche.com.
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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, e-Transport 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.
T: +44 (0) 7775 522 740
T: +41 (0) 79 785 35 81
T: +49 (0) 711 947 670
Anil Srivastava / Hubert Angleys
T: +41 (0) 24 424 65 00
 FEFAM means: AM INVESTMENT SCA, SICAV-SIF - Illiquid 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".