February 9, 2026: Lead battery giant Leoch International has said more time is needed to formally establish its proposed US spin-off company.

A product procurement framework (PPF) agreement, to support initial operations of the spin-off, Leoch Energy Inc, was announced last December.

In an update to the Hong Kong Stock Exchange on February 2, Leoch chairman Dong Li said more time is needed to complete procedures of approvals for Leoch Energy from the relevant US authorities.

Dealing in Leoch Energy shares is now expected to start on March 3 (New York time), with the distribution of shares taking place on March 3-4 (Hong Kong time).

However, Dong Li pointed out that in addition to requiring the various US approvals, a final decision on the spin-off is also required from the Leoch board, the board of the spin-off itself — and market conditions will also be taken into account.

“Accordingly, company shareholders and potential investors should be aware that there is no assurance that the proposed spin-off and the proposed distribution will take place or when they will take place,” he said.

Dong Li, who will hold a stake of more than 70% in the spin-off, abstained from taking part in the PPF vote in view of his role as a connected director.

None of Leoch’s other directors has a material interest in the PPF and proposed future transactions, the firm said.

Batteries International reported last December that Leoch currently expects the US unit will have a new plant in place in 2027 which, by the end of 2028, would support a ramping up of capacity to meet the “vast majority” of demand.