Pre-Annual General Meeting Information • Apr 3, 2014
Pre-Annual General Meeting Information
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Ad-hoc | 3 April 2014 07:03
Leclanché: publication of the exact nominal amount by which the share capital shall be increased
Leclanché SA / Key word(s): Capital Increase
03.04.2014 07:03
Press Release
Leclanché: publication of the exact nominal amount by which the share
capital shall be increased
Yverdon-les-Bains, Switzerland, April 3, 2014 - Leclanché S.A. (SIX Swiss
Exchange: LECN), specialized in the production of large-format lithium-ion
cells and energy storage solutions, today announced that the Board of
directors proposes to increase the ordinary capital of the company by CHF
10,703,782.50 by issuing a total of 7,135,855 new shares. This proposal
will be submitted to the approval of Leclanché' shareholders during the
Annual General Meeting, which will take place today April 3, 2014 at 11:00
a.m. in Yverdon-les-Bains.
This announcement follows the publication of the agenda of the Annual
General Meeting on March 13, 2014, in which the exact amount of the nominal
amount had still to be confirmed prior to the Annual Meeting.
Pursuant to the terms of the CHF 17 million Senior Secured Convertible Loan
Agreement entered into by the Company with Precept Fund Management SPC
acting on behalf of Precept Segregated Fund Portfolio ("Precept") on July
9, 2013, Precept have submitted a letter to Leclanché SA on March 31, 2014
electing to convert CHF10,703,782.50 of their outstanding loan, including
accumulated interest at CHF1.50 per share, into 7,135,855 ordinary shares
("Conversion Letter"). The increase of the share capital being proposed at
the Annual General Meeting is pursuant to the Conversion Letter.
In connection with this conversion and to bring the nominal value of the
shares in line with the conversion price under the convertible loan, the
Board of Directors proposes shareholders to approve two following
resolutions in addition to the other customary resolutions:
(i) a reduction of the share capital of the company of CHF 8,158,607.87 by
way of par value reduction from currently CHF 2.11 to CHF 1.50 per
share; in addition, the Board of Directors proposes to amend Article 3
quarter and Article 3 quinquies of the Articles of Association so that
the Company will be able to source any convertible loan that Precept
may grant to the Company in the future (if any) out of the authorized
capital (Article 3 quarter) or the conditional capital (Article 3
quinquies); and
(ii) an ordinary capital increase of CHF 10,703,782.50 through the issuance
of 7,135,855 new registered shares with a nominal value of CHF 1.50
for the conversion of the Precept loan; the pre-emptive rights are
withdrawn in favour of Precept.
Upon acceptance of the proposed capital increase, Precept would hold
10,278,240 shares representing 50.1% of the issued share capital of
Leclanché SA.
The Annual General Meeting of shareholders will be held today April 3, 2014
at 11:00 a.m. (doors open at 10.30 a.m.), at Y-PARC, Rue Galilée 15,
CH-1400 Yverdon-les-Bains.
Documentation
The agenda concerning the Annual General Meeting can be downloaded at the
Company's web site:
http://www.leclanche.eu/img/140403_Leclanche_AGM_agenda.pdf
About Leclanché
Leclanché's strategy is to become one of the leading lithium-ion cell
producers and solution providers for energy storage systems in Europe. Its
strategic priorities are to develop and market energy storage products for
home, industrial markets and grid applications and to grow its existing
businesses of developing portable energy storage systems for military,
medical and industrial applications. It also includes providing a range of
professional energy storage systems to a diversified customer base. 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 one 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
more than 100 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,
[email protected]
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.
03.04.2014 News transmitted by EQS Schweiz 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: [email protected]
Internet: www.leclanche.com
ISIN: CH0110303119, CH0016271550
Valor: A1CUUB, 812950
Listed: SIX
End of Announcement EQS Group News-Service
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