MYECO GROUP LTD — Capital/Financing Update 2010

Sep 22, 2010

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED

DATE: 23 SEPTEMBER 2010

RESULTS OF THE RIGHTS ISSUE

The Directors of Cardia Bioplastics Limited are pleased to announce the results of Non-renounceable Rights Issue offered to eligible shareholders.

Non-renounceable Rights Issue offered to eligible shareholders.
Number of ordinary shares offered under the Non–renounceable	247,198,862
Rights Issue
Number of ordinary shares applied by eligible shareholders in
accordance with the terms of the Non-Renounceable Rights	109,978,766
Issue offer
Shortfall Shares	137,220,096

The Directors will look to place Shortfall shares subject to the terms and conditions contained in the Offer Document.

The Company has raised approx $1.65 million from this Non –Renounceable Rights Issue.

Despatch date for the new shares applied is 28[th] September 2010.

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PAT VOLPE Chairman