Leclanché SA
Leclanché’s rapidly advancing growth strategy draws substantial additional support from shareholders
Leclanché SA / Key word(s): Corporate Action Leclanché’s rapidly advancing growth strategy draws substantial additional support from shareholders – Leclanché further strengthens its funding and balance sheet – Commitment for significant debt reduction of up to CHF 17 million – Additional growth capital of CHF 5 million agreed Yverdon-les-Bains, Switzerland, 2 July 2015 – Following the announcement of two of the most important and world leading projects in the micro-grid battery storage system and electro mobility segments, Swiss battery manufacturer Leclanché confirms it has now secured additional financial support for its operating and growth plan. Endorsing the major break-through projects secured in the first half of 2015 – a Battery Power Plant on the Azorean island of Graciosa and the Battery Power Plant for the world’s largest electric ferry (amounting in combination to some 8,400KWh of battery storage), further key steps were taken yesterday towards ensuring availability of funds to invest in the company’s growth: – Recharge has given an undertaking, subject to certain conditions, to convert up to – Universal Holdings and Bruellan have agreed to restructure and extend their loans, respectively CHF 2 million and CHF 750’000 which had been due at the end of June 2015, allowing Leclanché to secure additional long term growth capital to execute its growth plan. – Recharge has agreed to a further increase of CHF 5 million in the company’s growth capital facility, in addition to the CHF 8 million Facility B loan already announced. Scott Macaw and Robert Robertsson, directors of Recharge A/S, commented: «We are pleased with the progress Leclanché has made in the past six months. Conversion of such a large loan into equity represents our even greater commitment to support Leclanché’s growth. Additionally, Recharge’s increase of Facility B will allow the management team to put more focus on execution of the large projects the company has won. We believe this is an extremely positive development for all stakeholders of Leclanché, including its customers, trading partners, employees and shareholders». Jim Atack, Chairman of Leclanché, commented: «These announcements further validate Leclanché’s growth strategy. On behalf of the Board, I would like to congratulate the CEO, Anil Srivastava, and his management team for their commitment and capacity to deliver these major projects and to record our appreciation for this strong expression of support from shareholders». For further information Rohan Sant, Voxia communication – Mobile +41 (0)79 120 00 28 About Leclanché 2015-07-02 This Corporate News was distributed by EQS Schweiz AG. www.eqs.com – news archive: http://switzerland.eqs.com/de/News The issuer is responsible for the contents of the release. |
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: | Foreign Exchange(s) SIX | |
End of News | EQS Group News-Service |
374481 2015-07-02 |