Leclanché SA

EQS-Adhoc: Leclanché SA: Recharge and Bruellan convert their entire loan facilities into Leclanché shares


EQS Group-Ad-hoc: Leclanché SA / Key word(s): Miscellaneous
Leclanché SA: Recharge and Bruellan convert their entire loan facilities into
Leclanché shares

21.06.2016 / 06:40
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Recharge and Bruellan convert their entire loan facilities into Leclanché shares

-Two of Leclanché's key investors converts the final part of their loans
established to support the Company Growth Plan.

-Recharge completes its conversion of CHF 27.2 million loan to Leclanché,
significantly deleveraging the Company

-The Conversion of the Mandatory Convertible Note happens 6 months ahead of
mandatory convertible date.

YVERDON LES BAINS, Switzerland, [end] of June 2016:Recharge A/S (formally
Recharge ApS) and Bruellan, two of Leclanché's key shareholders, completed the
conversion of their entire loan facilities into shares of Leclanché SA, based on
the convertible loan agreement dated 7 December 2014 (the loan facility B) and
the note agreement dated 16th December 2015 (the Mandatory Convertible Notes).

Recharge finalizes its conversion of the entire CHF 27.2 million convertible
loan including its CHF 1.2 million Mandatory Convertible Note dated 16th
December 2015, and the CHF 16.8 million conversion dated July 2015.

Furthermore, Bruellan converts its CHF 1.2 million Mandatory Convertible Note.
Therefore, the entire Mandatory Convertible Notes is now converted into
Leclanché shares 6 Months ahead of the mandatory convertible date of December
15th 2016.

The total issued shares of Leclanché is now 42'307'988.

Scott Macaw, director of Recharge A/S, commented: «We are very pleased with the
recent fast growth development of the Company. The Management team has proved
its capabilities to win and to deliver large scale energy storage projects on a
turn-key basis. We are very confident the Company is successfully executing its
growth plan ».

Jean-Paul Tissières, partner of Bruellan also pointed out: «Bruellan Corporate
Action Fund has been supporting the Company since 2013.The energy storage
industry is currently under fast growth perspective supported by the realisation
of large scale commercial projects in North America and soon Europe. We are
pleased with the recent developments which proved Leclanché ability to secure,
manufacture and deliver commercial projects worldwide ».

"Recharge and Bruellan have continuously been strong supporters and strategic
investors in Leclanché. We are extremely thankful for their invaluable support
which has enabled us to launch our growth plan in December 2014, secure and
execute landmark projects. Their support has positioned Leclanché into one of
the global leading players in the energy storage fast growing markets" concludes
CEO Anil Srivastava.

 

* * * * *

About Leclanché
Leclanché is a fully vertically integrated battery energy storage solution
provider. Leclanché designs, manufactures and delivers customized energy storage
solutions for residential and industrial applications, electricity grids, as
well as hybridization for mass transport systems such as bus fleets and ferries.
Established in 1909, Leclanché has been a reliable partner for 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. Since 2006, the company
moved from a traditional battery producer to become one of the first developers,
manufacturers and provided of lithium-ion cells in Europe. Leclanché's BESS are
optimized for various applications, in particular for the integration of
renewable energy, diesel fuel reduction, electricity grid-connected ancillary
services, peak power shaving for heavy industries, as well as for heavy duty
transportation in buses, trams, trains or maritime vessels. Leclanché products
are characterized by a very high cycle stability (both for cells with titanate
and graphite anodes) and industry-leading long service life resulting into
reduced total cost of ownership. With its patented separator technology, which
is a core element of lithium-ion batteries, Leclanché is able to make cells with
very good safety characteristics, under a highly automated production process.
Leclanché operates a fully automated plant for the production of large format
lithium-ion cells at an annual maximum capacity of up to one million cells and
is capable of running multiple chemistries through production for different cell
characteristics. In addition, Leclanché offers a number of specialized battery
systems through its Portable Business Unit, such as customer-specific energy
storage systems for defence and medical applications. Leclanché also distributes
primary and secondary batteries and accessories of other producers.

Leclanché is listed on the Swiss stock exchange. SIX Swiss Exchange: ticker
symbol LECN | ISIN CH 011 030 311 9

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.

* * * * *

Media contacts:
Worldwide, except U.S. and Canada:
Jacques Boppe / Florent Gaillard
Tel.: +41 (0) 24 424 65 00
E-Mail:communication@leclanche.com

U.S. and Canada:
Rick Anderson / Henry Feintuch
Tel.: +1 (718) 986-1596 / +1 (212) 808-4901
E-Mail:leclanche@feintuchpr.com

End of ad hoc announcement

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21.06.2016 News transmitted by Tensid EQS AG. www.eqs.com

The issuer is responsible for the contents of the release.
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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:   Foreign Exchange(s) SIX


End of News EQS Group News Service
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