17.07.2018 – 07:06

Leclanché SA

EQS-Adhoc: Leclanché SA: Leclanché consolidates debt with a single lender and simplifies debt structure

EQS Group-Ad-hoc: Leclanché SA / Key word(s): Private Equity/Investment
Leclanché SA: Leclanché consolidates debt with a single lender and simplifies
debt structure

17-Jul-2018 / 06:59 CET/CEST
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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Leclanché consolidates debt with a single lender and simplifies debt structure

- FEFAM agrees to purchase outstanding debt from other third-party investors and
to extend its maturity to 31 March 2020.

YVERDON LES BAINS, Switzerland, 17 July 2018:Leclanché SA (SIX: LECN), one of
the world's leading energy storage solution companies, today announces that it
has agreed with certain of its investors, including its largest shareholder
FEFAM1, to restructure and simplify its debt structure.

FEFAM has purchased certain outstanding debt due on 30 June 2018 from third
party investors thereby simplifying Leclanché's lender base and agreed to
postpone the maturity of the purchased debt to 31 March 2020.

This follows FEFAM's existing plans, as announced on 25 June 2018, to convert CH
24 million of debt owed by Leclanché to FEFAM into equity in order to help
strengthen the balance sheet of the Company, subject to the approval by the
Swiss Takeover Board and completion of the due process of capital increase. It
is contemplated that after the conversion further steps shall be taken to
improve the balance sheet situation of the Company.

Last week, Leclanché announced the establishment of a major new Joint Venture
with Exide Industries, India's largest battery manufacturer, to build
lithium-ion batteries and energy storage solutions in India for the Indian
market. This is an important milestone for the Company and highlights that the
opportunity for Leclanché is now.

* * * * *

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


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

Media contacts:

Europe/global: Investor Contacts:

Desirée Maghoo Anil Srivastava / Hubert Angleys
T: +44 (0) 777552274 T: +41 (0) 24 424 65 00
E-mail:dmaghoo@questorconsulting.comE-mail:invest.leclanche@leclanche.com

Laure Lagrange
T: +44 (0) 7768 698 731
E-mail:llagrange@questorconsulting.com

Switzerland:
Thierry Meyer
T: +41 (0) 79 785 35 81
E-mail:tme@dynamicsgroup.ch

Thomas Balmer
T: +41 (0) 79 703 87 28
E-mail:tba@dynamicsgroup.ch

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

Henry Feintuch
T: +1 (212) 808-4901
E-mail:leclanche@feintuchpr.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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705107  17-Jul-2018 CET/CEST