Leclanché Strengthens its Capital Structure to Support Growth and Announces Adjustments to Executive Compensation Structure

Ad hoc announcement pursuant to Art. 53 LR

 

Leclanché Strengthens its Capital Structure to Support Growth and Announces Adjustments to Executive Compensation Structure

• Conversion of up to CHF 25.4 million in debt into equity
• The Executive Committee’s bonus calculation indexed to Leclanché’s share price

 

YVERDON-LES-BAINS, Switzerland, 26 March, 2025 – Leclanché SA (SIX: LECN), a global leader in energy storage solutions, specialised in heavy duty batteries for Marine and Rail customers, is pleased to announce a further strengthening of its balance sheet through an additional debt-to-equity conversion. The Company is now proceeding with the conversion of up to CHF 25.4 million in debt into equity.

The newly issued shares will be taken from the conditional pool. Additionally, interest is also included in the conversion, providing a financial relief for Leclanché as these payments will no longer be required. This measure will further reinforce the Company’s financial position, providing increased flexibility to support its strategic growth initiatives.

At the same time, the Board of Directors has resolved to adjust the annual bonus scheme for the Executive Committee. Going forward, share price targets of LECN will be integrated into the final calculation of annual bonuses. This decision aligns the interests of the Executive Committee with those of shareholders and underscores Leclanché’s commitment to enhancing long-term shareholder value.

This debt-to-equity conversion once again highlights Leclanché’s majority shareholder's steadfast and unwavering commitment to the Company and the successful execution of its growth plan.

Pierre Blanc, CEO of Leclanché, said: “We believe this additional debt-to-equity conversion is a critical step in strengthening our balance sheet and improving the Company’s financial resilience. We sincerely appreciate our majority shareholder’s continued support of Leclanché. Furthermore, by linking executive compensation more closely to our share price performance, we reaffirm our commitment to creating sustainable value for our investors.”

Leclanché remains focused on executing its strategic objectives in close collaboration with Pinnacle International Capital, as announced on 7^th February 2025.

 

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About Leclanché

 

Leclanché is a world leading provider of low-carbon footprint energy storage solutions based on lithium-ion cell technology. Established in 1909 in Yverdon-les-Bains, Switzerland, Leclanché’s history and heritage is rooted in battery and energy storage innovation. The Company’s Swiss culture for precision and quality, together with its production facilities in Germany, make Leclanché the partner of choice for companies seeking the very best in battery performance and who are pioneering positive changes in how energy is produced, distributed and consumed around the world. Leclanché is organised into three business units: energy storage solutions, e-Mobility solutions and specialty battery systems. The Company currently employs over 350 people with representative offices in eight countries around the world. Leclanché is listed on the Swiss Stock Exchange (SIX: LECN). SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9

 

 

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.

 

 

 

Contacts

 

Media Switzerland /Europe: Thierry Meyer T: +41 (0) 79 785 35 81 E-mail: tme@dynamicsgroup.ch	Media Germany: Christoph Miller T: +49 (0) 711 947 670 E-mail: leclanche@sympra.de
Investor Contacts: Pierre Blanc / Hubert Angleys T: +41 (0) 24 424 65 00 E-Mail: invest.leclanche@leclanche.com