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EQS-Adhoc: Leclanché SA: Shareholders approve resolutions at Leclanché's Extraordinary General Meeting to strengthen the Company's balance sheet

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EQS Group-Ad-hoc: Leclanché SA / Key word(s): AGMEGM
Leclanché SA: Shareholders approve resolutions at Leclanché's Extraordinary
General Meeting to strengthen the Company's balance sheet

24-Oct-2019 / 17:19 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

*Shareholders approve resolutions at Leclanché's Extraordinary General
Meeting to strengthen the Company's balance sheet *

*- *During the Extraordinary General Meeting (EGM) Leclanché reiterated that
the Company has a combined order book in excess of CHF 100 million and a
qualified pipeline of projects for delivery in 2020 and beyond of more than
CHF 160 million.

- The shareholders approved the reduction of Leclanché's par value per share
from CHF 1.50 to CHF 0.10, allowing Leclanché to strengthen its balance
sheet.

- The shareholders approved the conversion of an additional CHF 17.4 million
of debt into equity, by the Company's largest shareholder FEFAM.[1]

- The shareholders approved the creation of authorized and conditional
capital to meet the funding needs of the Company to execute its growth plan.

*YVERDON, Switzerland, 24th October 2019* - Leclanché SA (SIX: LECN), one of
the world's leading energy storage companies, announced that the Company's
shareholders approved the resolutions at today's EGM that will strengthen
the Company's balance sheet.

*Stefan Müller, Chairman of the Board of Leclanché, said:* _"We would like
to thank our shareholders for approving the resolutions which will help to
strengthen the company's balance sheet. We continue to be very grateful for
FEFAM's ongoing support of our vision and strategy. The Company is now in a
strong position to attract growth capital."_

With the liquidity situation remaining tight, the management is focused on
reducing the Company's debt, which, for 2019, will be contingent on the
receipt of CHF 34 million from licensing revenues from the Company's JV in
India, outstanding trade receivables, and financing for the stationary
project in St Kitts and Nevis respectively.

*Anil Srivastava, CEO of Leclanché, said:* _"Our recent success in
e-Transport business, including the large contract announced with Bombardier
Transport, is building a recurring and predictable revenue flow that shall
lead to sustainable, profitable growth."_

*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 contacts: *
*Europe/global:* *US and Canada: *
Desiree Maghoo Rick Anderson

T: +44 (0) 7775 522 740 T: +1-718-986-1596

E-mail: Henry Feintuch
dmaghoo@questorconsulting.com
T: +1-212-808-4901

E-mail:
leclanche@feintuchpr.com
*Switzerland:* *Investor Contacts:*

Thierry Meyer Anil Srivastava / Hubert
Angleys
T: +41 (0) 79 785 35 81
T: +41 (0) 24 424 65 00
E-mail: tme@dynamicsgroup.ch
E-mail:
invest.leclanche@leclanche.c
om

[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".

Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=EGDPBSFKVC [1]
Document title: Leclanché SA: Shareholders approve resolutions at
Leclanché's Extraordinary General Meeting to strengthen the Company's
balance sheet
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: 896595

End of Announcement EQS Group News Service

896595 24-Oct-2019 CET/CEST


1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=8adf81935f52399051da27e259e97825&application_id=896595&site_id=vwd&application_name=news


(END) Dow Jones Newswires

October 24, 2019 11:20 ET ( 15:20 GMT)
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