Leclanché SA / Key word(s): Capital Increase

07.02.2012 07:15

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

Not for release, publication or distribution in the United States of America, Canada, Japan or Australia

Leclanché Press Release

Leclanché announces successful completion of capital increase by raising approximately CHF 28 million in gross proceeds

Yverdon-les-Bains, February 7, 2012 - Leclanché S.A. (SIX Swiss Exchange: LECN), adhoc Swiss company specialized in the production of large-format lithium-ion cells and energy storage solutions, announces the successful completion of its capital increase by raising gross proceeds of approximately CHF 28 million. This corresponds to 93% of the maximum transaction size. In total, Leclanché has issued a total of 2,148,238 new registered shares and 2,148,238 warrants at the offer price of CHF 13. Net proceeds from the issue amount to approximately CHF 25 million.

'After having made significant progress in 2011 on several fronts, the successful completion of this capital increase supports our ambition to become one of the leading providers for electric storage solutions based on large format lithium-Ion technology,' said Dr. Ulrich Ehmes, CEO of Leclanché.

He added: 'We will now focus our efforts to complete, as planned, the installation and ramp-up of our mass production line for large-format lithium-ion cells, which is expected to commence commercial production by the end of the second quarter of 2012. At the same time we will pursue concrete business opportunities by providing energy storage solutions both in the home storage market as well for utilities and for the industrial generation of renewable energies.'

The 2,148,238 warrants sold in the offering will entitle the holders thereof to purchase up to 1,074,119 new registered shares at the strike price of CHF 16 per registered share at any time during the warrant exercise period which runs from February 6, 2012 until 12:00 noon (CEST) on August 6, 2012. The warrants are traded on the SIX Swiss Exchange as of February 6, 2012 until and including August 3, 2012.

About Leclanché

Leclanché specializes in the production of tailor-made energy storage solutions. Leclanché's strategy is to expand its position as one of the leading lithium-ion cell producers and solution providers for lithium-ion electric energy storage systems for the storage of renewable energy in Europe. Its initial strategic priority is on stationary home electric energy storage applications and on expanding into the stationary industrial and grid electricity storage markets. Through participation in research consortia focusing on off-road and automotive applications, Leclanché intends to remain in a position to take advantage of new market opportunities.

Through a licensed 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. Leclanché currently operates a fully automated pilot production line with an installed annual production capacity of up to 4 MWh in large-format lithium-ion cells. By the end of the second quarter of 2012, Leclanché expects to commence commercial production on its first mass production line with an installed annual capacity of up to 76 MWh in lithium-titanate cells.

Leclanché was founded in 1909 in Yverdon-les-Bains. Through the integration of a spin-off from the Fraunhofer-Gesellschaft in 2006, the company developed from being a traditional battery manufacturer to becoming a leading developer and manufacturer of lithium-ion cells in Europe. Leclanché currently employs 120 staff and recorded revenues of CHF 15.1 million in 2010. The company has its headquarters in Yverdon-les-Bains (Switzerland) and has production facilities in Willstätt (Germany). Leclanché is listed on the SIX Swiss Exchange (LECN).

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.

This press release constitutes neither an offer to sell nor a solicitation to buy any securities. It does not constitute a prospectus pursuant to art. 652a and/or 1156 of the Swiss Code of Obligations or art. 27 et seq. of the SIX Swiss Exchange Listing Rules. The securities have already been sold.

This press release and the information contained herein are not for distribution in or into the United States of America and must not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, as amended ('Securities Act')) or to publications with a general circulation in the United States. This press release does not constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States. The securities of LECLANCHE S.A. have not been and will not be registered under the Securities Act and may not be offered, sold or delivered within the United States or to U.S. persons absent registration under or an applicable exemption from the registration requirements of the Securities Act. There will be no public offer of securities of LECLANCHE S.A. in the United States.

This press release is directed only to persons (i) who are outside the United Kingdom or (ii) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (as amended) (the 'Order') or (iii) who fall within Article 49(2)(a) to (d) ('high net worth companies, unincorporated associations, etc.') of the Order (all such persons together being referred to as 'Relevant Persons'). Any person who is not a Relevant Person must not act or rely on this communication or any of its contents. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with Relevant Persons.

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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: CH0016271550, CH0110303119
Swiss Security Number: 812950 , A1CUUB
Listed: SIX

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