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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.

Here is the original post:
DGAP-Adhoc: Leclanché SA: Shareholders Approve All Board Proposals at Annual General Meeting