EQS-Adhoc

Leclanché SA: Leclanché shareholders approve all Board proposals at Annual General Meeting

EQS Group-Ad-hoc: Leclanché SA / Key word(s): AGM/EGM/Financing Leclanché SA: Leclanché shareholders approve all Board proposals at Annual General Meeting 26-Jul-2017 / 18:43 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 KR Leclanché shareholders approve all Board proposals at Annual General Meeting

- The Company has secured fresh investment of CHF 18.5 million from existing investors Golden Partner and Bruellan

- Creation of authorized and conditional share capital to enable Leclanché to raise funds for growth plans

- 2017 funding and growth strategy update, including confirmation of 450 MWh of qualified pipeline

- Three new directors elected

YVERDON-LES-BAINS, Switzerland, 26^th July 2017: Leclanché SA (SIX Swiss Exchange: LECN), one of the world's leading energy storage solution companies, announced today that its shareholders approved all of the proposals of the Board of Directors at its 2016 Annual General Meeting held this morning.

Shareholders approved all the resolutions relating to the creation of authorized and conditional share capital in connection with the 2017 operating and growth plans of the Company.

Three new members were elected to the Board of Directors. The Company welcomes Mr. Pierre-Alain Graf, a well-known industry leader in Switzerland and Europe, as an independent director. The Company also welcomes Mr. Tianyi Fan and Ms. Cathy Wang from Golden Partner, both top-class finance professionals, to the Board.

The shareholders also approved the proposals of LECN Co-Invest and ACE EE to readopt article 5 of the Articles of Association with regards to opting-up moving from 33 to 49 percent.

Anil Srivastava, CEO of Leclanché, provided a comprehensive overview of 2016's key achievements, including 56 per cent increase in revenue, more than 2.5 times 2014's figure; 16-fold increase in order intake; steady-state EBITDA loss reduction by 54 per cent, year-on-year; and off-balance sheet USD 23 million in project finance. Srivastava also provided an update on the Company's funding and growth strategy. Despite the success in 2016, Leclanché's growth strategy faced a temporary blip in the first half of 2017. This was driven by accumulated losses from the past and Leclanché's delay in raising new equity, which led to a very short term balance-sheet based technical insolvency under Swiss CO725.2, known to the Board since 31^st May 2017, and negotiating an extension of the Convertible Loan provided by ACE and Jade Group, due on 30^th June 2017. Leclanché solved these issues and its trajectory to profitable growth remains unaffected as it secured fresh investment of CHF18.5 million in July from existing shareholders Golden Partner and Bruellan.