Leclanché S.A.

Capital/Financing Update • Nov 23, 2012

News Details

Ad-hoc | 23 November 2012 18:00

Business update: Leclanché obtains EUR 5 million bridge loan to pursue its activities until the conclusion of a financial transaction

Leclanché SA / Key word(s): Miscellaneous

23.11.2012 18:00

Release of an ad hoc announcement pursuant to Art. 53 KR

Leclanché

Press Release

Business update: Leclanché obtains EUR 5 million bridge loan to pursue its
activities until the conclusion of a financial transaction

Yverdon-les-Bains, Switzerland, 23 November 2012 - Leclanché S.A. (SIX
Swiss Exchange: LECN), specialized in the production of large-format
lithium-ion cells and energy storage solutions, today announced that its
German subsidiary, Leclanché GmbH, has obtained a EUR 5 million / CHF 6
million bridge loan from Bruellan Corporate Governance Action Fund, to
cover its short term funding needs. The loan, with maturity at the end of
March 2013, is secured with assets of Leclanché GmbH. The parties have
agreed that following a capital increase to raise further funds for
Leclanché SA the lender shall have the right to convert the loan into
shares of Leclanché SA and that the lender shall be awarded warrants to
purchase shares of Leclanché SA.

Leclanché believes that this loan will enable both entities, Leclanché SA
and Leclanché GmbH, to pursue their activities until the end of March 2013.
In addition to a capital increase, Leclanché intends to investigate as well
other financial and strategic alternatives to cover its medium term funding
needs. Leclanché is currently in discussions with several potential
partners in this respect. Whether these discussions will ultimately be
successful is still open at this point.

The company has also decided to reduce the size of the Board by one seat.
Following this decision, Christophe Cleve has decided to step down as Board
member of Leclanché. He had been elected to the Board on April 16, 2012.
The Board of directors would like to thank Mr. Cleve for his active
contribution over the last few months.

About Leclanché

Leclanché's strategy is to expand its position as one of the leading
lithium-ion cell producers and solution providers for renewable energy
storage systems in Europe. Its strategic priorities are stationary home
electrical energy storage applications and expansion into the stationary
industrial and grid electricity storage markets. Through participation in
research consortia focusing on hybrid and E-mobility applications,
Leclanché is positioned to take advantage of new market opportunities.

Through a unique, patented ceramic separator technology and focus on
lithium-titanate technology, Leclanché manufactures large-format
lithium-ion cells, optimized for safety and cycle-life, in a fully
automated production process. The newly installed production line will have
an annual capacity of 1 million cells or 76 MWh.

Leclanché was founded in 1909 in Yverdon-les-Bains. Through the integration
of a spin-off from the Fraunhofer-Gesellschaft in 2006, the company evolved
from a traditional battery manufacturer to become a leading developer and
manufacturer of lithium-ion cells in Europe. Leclanché currently employs
120 staff and is listed on the SIX Swiss Exchange (LECN). The company has
its headquarters in Yverdon-les-Bains (Switzerland) and production
facilities in Willstätt (Germany).

www.leclanche.eu

Media contact:

Christophe Lamps, Dynamics Group S.A.: Telephone: +41 79 476 26 87,
cla@dynamicsgroup.ch

Contact for German media:

Markus Wieser, CNC AG: Telephone: +49 89 599 458 114,
markus.wieser@cnc-communications.com

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.

23.11.2012 News transmitted by EquityStory AG.
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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
Swiss Security Number: A1CUUB, 812950
Listed: SIX

End of Announcement EquityStory News-Service

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