Leclanché secures funding until June 2023 | company sector

(AWP) Leclanché battery manufacturer (LECN 0.6190 + 4.74%) It has handled its over-indebtedness for the time being thanks to major shareholder Sefam. According to a statement released by Leclanché Thursday night, Sefam is converting a significant portion of the debt into equity before maturity. As a result, Leclanché will have to spend less money on interest payments and thus strengthen its balance sheet.

Additional funding from Sefam (Strategic Equity Fund and AM Investment) and help secure third-party funding will now allow the company to continue its operations through June next year.

However, Leclanché continues to work on further measures to secure its financing through 2024. These included a capital increase announced in May by US-based Special Purpose Acquisition Corporation (SPAC). The company is also in talks with two major industrial companies about a potential strategic investment in Leclanché E-Mobility.

The company also announced that the operator of the Swiss Stock Exchange SIX has agreed to request a third extension of the deadline for publishing the annual report. According to the announcement, Leclanché now has until the end of July to submit the annual report. If this does not happen by then, trading in Leclanché shares on the Swiss Stock Exchange will be suspended.