Leclanche adds four new, major institutional investors as part of new capital raise

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Existing shareholders Bright Cap SICAV SA and Recharge A/S make further investment in the Company as part of the first tranche of the capital raise.

– Funding provides Leclanché with capital resources to support current growth plan.

YVERDON LES BAINS, Switzerland, 16th August 2016: Leclanché SA announced today the successful completion of the first round of its CHF 11.1 million capital raise thanks to the entry of four new, well known institutional investors joining the shareholder base of the Company and further investment of two current shareholders.

Bright Cap SICAV SA and Recharge A/S increased their position as Leclanché capital participants with Bright Cap SICAV now owning 10.2%, confirming their trust in the Company and strong support to the growth plan.

Another positive development for Leclanché was the action taken by ACE & Cie and Jade Crest Limited, two key shareholders and largest lenders of Leclanché, who will convert CHF 4.1 million of the convertible loan under Facility C into shares of Leclanché.

Anil Srivastava, CEO of Leclanché SA, said: "Following the off-market share purchase by three Luxembourg based funds announced earlier in August, this new capital raise confirms the growing interest of prestigious institutional investors in the Company, its strategy and its growth. This capital raise, though delayed by several weeks due to Brexit related market volatility, provides Leclanché with capital resources to continue to convert its significant orders into revenue and maintain its overall mid-term growth plan. We are now focused on completing our growth capital funding to support the business plan, as previously announced during the AGM held on the 4th of May 2016."