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By Ken Jackson Staff Writer

The Board of Osceola County Commissioners on April 8 agreed to sign agreements with UCFs School of Medicine and a new vocational school coming to St. Cloud.

The latter is a new interlocal agreement to partner with the city of St. Cloud to provide $650,000 for capital improvements to a St. Cloud-owned building that will house a private university that offers degrees in the medical field.

Part of the 10-year agreement hammered out is that St. Cloud will pay the Greater Osceola Partnership for Economic Prosperity (GOPEP) $50,000 in each year that the school is at that location, a former office complex and school located south of St. Cloud Hospital. St. Cloud will pay the county $65,000 for every year that the institution is not operating.

The motion passed 4-1 after Commissioner Brandon Arrington amended it, providing that the $50,000 be used as incentive dollars for projects county-wide rather than the operation of GOPEP.

Commission Chairman Frank Attkisson noted the school, a satellite campus of American Institute College of Health Professions, would offer four-year degrees with graduates that will earn $50,000 to $90,000 per year and will potentially have a local economic impact of $18 million.

The city of St. Cloud is starving for a four-year institution, he said. This is literally a godsend. Hopefully it will prosper and be a lead in education and not just in St. Cloud.

Representatives of the school and Premier Education Group, an umbrella organization for vocational schools of this nature, said the graduation rates of their schools are between 75 and 80 percent, with a 72 to 80 percent job placement rate, both meeting the benchmarks needed to retain federal funding they receive.

But when questioned by the commission on whether credits earned at the school could be transferred to another school, such as UCFs School of Medicine, they said that there was no agreement already in place for that.

More here:
County signs agreements for medical school in St. Cloud

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Press Release

Leclanch Shareholders Approve All Board Proposals at Annual General Meeting

- Shareholders approved the financial restructuring of the company providing for a capital reduction and subsequent capital increases

Yverdon-les-Bains, Switzerland, 10 April 2013 - Leclanch S.A. (SIX Swiss Exchange: LECN), specialized in the production of large-format lithium-ion cells and energy storage solutions, announced today that its shareholders approved all the proposals of the Board of Directors at its 2013 annual general meeting held today in Yverdon-les-Bains. Shareholders approved the 2012 Annual Report and financial statements as well as the financial restructuring of the company providing for a capital reduction and subsequent capital increases. Both Mr Rolf Eckrodt and Mr Stefan Mller were re-elected as board members for a period of one year and three years.

'We sincerely thank our shareholders for approving all proposed resolutions, which provide Leclanch with the means and the flexibility to implement its financial restructuring plan,' commented Rolf Eckrodt, Chairman of the Board. 'The Board of directors and the management is fully engaged in seeking to secure the mid-term funding of the company and implement the turnaround plan for the company. The successful implementation of these various measures, should allow Leclanch to overcome its current difficulties and take advantage of the upcoming market opportunities.'

Summary of the financial restructuring Shareholders of Leclanch S.A. approved: - A capital reduction through nominal value reduction

- The nominal value of all outstanding 5,630,145 registered shares will be reduced from the current nominal value of CHF 5 to CHF 2. The reduction amount of CHF 3 per share (in total CHF 16,890,435) will be allocated to the general reserves.

- An ordinary capital increase in three separate tranches

- a share issue with pre-emptive rights preserved for existing shareholders. The share capital can be increased through the issuance of a maximum of 8,445,218 shares with a nominal value of CHF 2 each, by a maximum amount of CHF 16,890,436.

- a private placement reserved for new investors. The share capital can be increased through the issuance of a maximum of 10,000,000 shares with a nominal value of CHF 2 each, by a maximum amount of CHF 20,000,000.

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DGAP-Adhoc: Leclanché SA: Shareholders Approve All Board Proposals at Annual General Meeting