Leclanché SA
Leclanché SA: Recharge and Bruellan convert their entire loan facilities into Leclanché shares
EQS Group-Ad-hoc: Leclanché SA / Key word(s): Miscellaneous Recharge and Bruellan convert their entire loan facilities into Leclanché shares – Two of Leclanché’s key investors converts the final part of their loans established to support the Company Growth Plan. – Recharge completes its conversion of CHF 27.2 million loan to Leclanché, significantly deleveraging the Company – The Conversion of the Mandatory Convertible Note happens 6 months ahead of mandatory convertible date. YVERDON LES BAINS, Switzerland, [end] of June 2016: Recharge A/S (formally Recharge ApS) and Bruellan, two of Leclanché’s key shareholders, completed the conversion of their entire loan facilities into shares of Leclanché SA, based on the convertible loan agreement dated 7 December 2014 (the loan facility B) and the note agreement dated 16th December 2015 (the Mandatory Convertible Notes). Recharge finalizes its conversion of the entire CHF 27.2 million convertible loan including its CHF 1.2 million Mandatory Convertible Note dated 16th December 2015, and the CHF 16.8 million conversion dated July 2015. Furthermore, Bruellan converts its CHF 1.2 million Mandatory Convertible Note. Therefore, the entire Mandatory Convertible Notes is now converted into Leclanché shares 6 Months ahead of the mandatory convertible date of December 15th 2016. The total issued shares of Leclanché is now 42’307’988. Scott Macaw, director of Recharge A/S, commented: «We are very pleased with the recent fast growth development of the Company. The Management team has proved its capabilities to win and to deliver large scale energy storage projects on a turn-key basis. We are very confident the Company is successfully executing its growth plan ». Jean-Paul Tissières, partner of Bruellan also pointed out: «Bruellan Corporate Action Fund has been supporting the Company since 2013.The energy storage industry is currently under fast growth perspective supported by the realisation of large scale commercial projects in North America and soon Europe. We are pleased with the recent developments which proved Leclanché ability to secure, manufacture and deliver commercial projects worldwide ». “Recharge and Bruellan have continuously been strong supporters and strategic investors in Leclanché. We are extremely thankful for their invaluable support which has enabled us to launch our growth plan in December 2014, secure and execute landmark projects. Their support has positioned Leclanché into one of the global leading players in the energy storage fast growing markets” concludes CEO Anil Srivastava.
* * * * * About Leclanché Leclanché is listed on the Swiss stock exchange. SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9 Disclaimer * * * * * Media contacts: U.S. and Canada: End of ad hoc announcement 2016-06-21 News transmitted by Tensid EQS AG. www.eqs.com 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 |