Leclanché’s shareholders approved all of the board of directors’ proposals during an extraordinary general meeting. The energy storage solutions manufacturer from Yverdon-les-Bains in the canton of Vaud reported the news in a press release. The board of directors was discharged, members of the executive committee compensated, and an ordinary capital increase of four million shares approved. The measures are intended to fund growth projects. Jim Attack, chairman of Leclanché, commented that the move could accelerate the company’s growth.
Anil Srivastava, CEO of the company, used the occasion of the Interim Results announcement on 3rd September to reinforce the communication delivered. He said: “The request for an ordinary capital increase is to invest in development of large projects, acquisitions through share deals and expansion in international markets, in particular in the US.”
The Interim results, which show that the company will reach an adjusted EBITDA breakeven towards the end of the year, do not yet reflect the positive impact of the series of major customer wins, acquisitions and partnership agreements since the start of 2015, according to Srivastava. He underlined that the signed contracts led to a strong production increase during this period.