Leclanché SA

EQS-Adhoc: Leclanché announces CHF 2.7 million equity investment by Baring Asset Management as part of broader capital raising


EQS Group-Ad-hoc: Leclanché SA / Key word(s): Capital Increase
Leclanché announces CHF 2.7 million equity investment by Baring Asset Management
as part of broader capital raising

07-Apr-2017 / 18:50 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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Leclanché announces CHF 2.7 million equity investment by Baring Asset Management
as part of broader capital raising


YVERDON LES BAINS, Switzerland, 7 April 2017:Leclanché SA (SIX: LECN), one of
the world's leading energy storage solution companies, announced today the
successful addition of CHF 2.7 million of equity from Baring Asset Management
Limited.

The investment forms part of a major capital raise planned in 2017, including a
targeted total private placement of CHF 7 million and a strategic alliance with
an Asian industrial partner to support growth initiatives.

The current fund raising complements the CHF 11.1 million private placement of
equity announced in August 2016, which brought in Baring Asset Management
Limited and other new institutional investors including Herald Investment Trust
Plc, KBI Global Investors Ltd (formerly Kleinwort Benson Investors) and Shamir
Capital. The summer funding also included investment and loan conversion from
existing shareholders ACE & Cie, Bright Cap SICAV SA, Jade Crest Limited and
Recharge A/S.

Leclanché is also improving its capital efficiency through increased access to
off-balance sheet project financing. In December 2016, Maple Leaf LP, the
holding company for Leclanché's Canadian utility grid project, secured a
construction loan to build and commission the first two sites for the IESO
installation totalling 12MWh (27MW), which represents the first portion of a
53MWh development for IESO. This follows financing by SGEM of the Company's
10MWh (23MW) Marengo grid project in Chicago, announced in November 2016, for
which it has already delivered the battery energy storage system.

Anil Srivastava, CEO of Leclanché, said: "We are delighted that Baring Asset
Management has invested growth capital in the Company again. We have a very
strong pipeline of projects amounting to over 450 MWh and continue to out
perform the sector in terms of our revenue performance. Our further fundraising
is on track and we look forward to updating the market in due course. "


* * * * *

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

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.

* * * * *

Contacts

Publication of results
Leclanché SA's annual report is available in pdf format on the Company Web site:
www.leclanche.com/investor-relations/financial-reports-publications/annual-repor
ts

Analyst and investor webcast
After the AGM scheduled on Wednesday the 3rd of May 2017, a live audio webcast
will be accessible for analysts and investors on Monday the 8th of May 2017 at
14:15 CET (13:15 GMT/ 8:15 EST).
Analysts and investors wishing to ask questions during the conference are
invited to register with the investor relation team by
email:investors@leclanche.com

Media contacts:

Europe/global:
Desirée Maghoo
T: +44 (0) 7775 522740
E-mail:dmaghoo@questorconsulting.com

Simon Barker
T:+44 (0)7866 314331
E-mail:sbarker@questorconsulting.com

US and Canada:
Rick Anderson
T: +1 (212) 808-4901

Henry Feintuch
T: +1 (212) 808-4915
E-mail:leclanche@feintuchpr.com

Shareholder, Analyst and Investor contacts:
E-mail: investors@leclanche.com

Investor Contacts
Anil Srivastava / Hubert Angleys
Tel.: +41 (0) 24 424 65 00
E-Mail:invest.leclanche@leclanche.com


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End of ad hoc announcement------------------------------------------------------

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:   SIX Swiss Exchange



 

End of Announcement EQS Group News Service

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563463  07-Apr-2017 CET/CEST
 



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