DAX ®12.805,68+0,85%TecDAX ®3.057,69+1,04%S&P 5003.210,77+0,40%NASDAQ10.701,20+0,10%
finanztreff.de

EQS-Adhoc: Leclanché concludes its Annual General Meeting

| Quelle: Dow Jones Newsw... | Lesedauer etwa 7 min. | Text vorlesen Stop Pause Fortsetzen


EQS Group-Ad-hoc: Leclanché SA / Key word(s): AGMEGM
Leclanché concludes its Annual General Meeting

30-Jun-2020 / 19:15 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 concludes its Annual General Meeting*

*- *_Debt to equity conversion significantly strengthens balance sheet _

_- Major Stationary Solutions projects and solid e-Transport order pipeline
provide critical scale putting Company on track towards profitability_

_- Christophe Manset joins the Board of Directors_

*YVERDON-LES-BAINS, Switzerland, June 30th, 2020 -* Leclanché SA [1] (SIX:
LECN), one of the world's leading energy storage solutions companies, today
announced that the Company's shareholders approved all but two of the
proposals of the Board of Directors at its 2020 Annual General Meeting (AGM)
held today through a live webcast meeting due to the Covid-19 situation.

The debt to equity conversion of CHF 50.9 million of debt contracted with
FEFAM[1], the Company's main shareholder, was approved by shareholders. This
restructuring measure shall reduce the Company's debt level to CHF 15.3
million. The strengthened balance sheet should drive increased investment
interest in the Company at this time of strong growth in Leclanché's order
book in the fast-growing e-Transport sector.

The Board regrets that the resolutions to renew the period for exercising
the authorized capital and increase the conditional capital to the maximum
possible number of shares were not approved by the majority of shareholders.
The Board notes that it still has approximately 76 million authorized shares
available to be exercised until 8th May 2021 and approximately 43 million
conditional shares. The Board will review the available options to ensure
the availability of the growth capital needed.

The Board is pleased to announce that Mr. Christophe Manset has been elected
to the Board of Directors.

Mr. Manset has more than 10 years of experience in the asset management
industry in Luxembourg. As an associate at LEVeL with a focus on Alternative
Investment Funds regulated by the Luxembourg supervisory authority, he
brings to the Board of Directors of Leclanché proven experience in the
financial field and in matters concerning investment funds. Mr. Manset
serves as an advisor to the Luxembourg-based FEFAM, Leclanché's majority
shareholder, which will enable the Company to further strengthen its
relationship with FEFAM.

The Company provided an update of the Covid-19 situation which prevents it
from providing any guidance for the year 2020. On an average, production
capacity has been reduced by nearly 1/3 during the lock down period and
nearly CHF 11 million business has been deferred.

*Commercial breakthroughs*

In his address to shareholders, Anil Srivastava, CEO of Leclanché, outlined
the Company's progress in implementing the Growth Plan announced in 2015. In
2019, Leclanché achieved significant growth in many aspects of its business.
The e-Transport business is set to grow over 2019 by six to ten times in
2020 with an order book of CHF 90 million to be delivered in the years 2020
through 2022.

- Leclanché is recognized among the market leaders in marine electrification
offering unique integrated on-board battery systems as well as charging
infrastructure for the ports and harbours market.

- Leclanché's other fleet electric vehicle business is on a rapid growth
trajectory fuelled by business revenues of more than &euro 100 million over
the next five years with Bombardier Transportation. In fact, the Company is
now well-positioned to address more than 40% of the train electrification
market between the strategic partnership with Bombardier and its recent win
of a new rail project with another major train provider.

- Furthermore, Mr. Srivastava reported significant momentum in the truck
electrification market leveraging the Company's success with Toyota Motor
North America as well as large opportunities for bus and truck fleet
retrofitting.

Leclanché's Stationary Solutions business continued its growth with a
cumulative 100 MWh of projects commissioned highlighted by the announcement
of a Build-Own-Operate model for Energy-as-a-Service including the
high-profile St. Kitts project.

Leclanché has been able to meet its growth targets thanks to the constant
and steady support of all shareholders, in particular FEFAM, its major
shareholder who converted CHF 103 million of debt into capital since May
2019.

*Anil Srivastava, CEO of Leclanché, said:* "_In 2019, Leclanché has built a
competitive organization on multiple fronts with commercial wins, project
completions and improvements in our technology and cost structure. The 'new
Leclanché' is well-positioned for accelerated growth and success in our
markets - in no small part due to the hard work of our colleagues around the
world, the patience of our shareholders and the support of business partners
and investors._

_The strategic reorganization underway shall set the Company on a clear path
to deliver profitable growth thanks to the capital light structure through
the Joint Venture with Eneris Group, reduced Operating Expenses, and reduced
product costs with the launch of its industry leading 210 Wh per kg/8000
cycles* High Energy Density Cells."_

*- at 80% depth of discharge.

For more information, write to info@leclanche.com or visit www.leclanche.com
[1].

********

*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, 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

*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 Switzerland /Europe:* *Media North America:*
Thierry Meyer Rick Anderson
T: +41 (0) 79 785 35 81 T: +1-718-986-1596
E-mail: tme@dynamicsgroup.ch
Henry Feintuch
T: +1-212-808-4901
E-mail: leclanche@feintuchpr.com
*Media Germany:* *Investor Contacts:*
Christoph Miller Anil Srivastava / Hubert Angleys
T: +49 (0) 711 947 670 T: +41 (0) 24 424 65 00
E-mail: E-mail:
leclanche@sympra.de invest.leclanche@leclanche.com

[1] 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".

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
EQS News ID: 1083017

End of Announcement EQS Group News Service

1083017 30-Jun-2020 CET/CEST


1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=57d2f8871d72682fbb267101ca070095&application_id=1083017&site_id=vwd&application_name=news


(END) Dow Jones Newswires

June 30, 2020 13:15 ET ( 17:15 GMT)
Werbung

Das könnte Sie auch interessieren

News-Suche

Suchbegriff:

Aktuelle Videos

HSBC Trading TV

Werbung

Trading-Tipp

Börsen & Märkte

US-Marktüberblick

zur Mediathek
Werbung

Werbung
Diese Seite empfehlenschliessen
Interessant, oder?
Teilen Sie diese Seite auf Facebook oder Twitter
Wenn Sie auf die Teilen-Buttons klicken und sich bei den Betreibern einloggen, werden Daten an den jeweiligen Betreiber übermittelt. Bitte beachten Sie die Datenschutzerklärung.
Aktuelle Umfrageschliessen
Glauben Sie, dass der Digitalisierungsboom in den kommenden Monaten anhält?
Jetzt abstimmen!
Alle Umfragen ansehen