MYECO GROUP LTD — Capital/Financing Update 2012

Mar 20, 2012

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 21 March 2012

DESPATCH OF HOLDING STATEMENTS FROM RIGHTS ISSUE AND REVISED APPENDIX 3B

Holding statements from the recent 1 for 4 Rights Issue and the free attaching option for each new share subscribed will be sent to subscribing shareholders today as per the timetable contained in the Rights Issue Prospectus.

A revised Appendix 3B for the new shares and options issued pursuant to the Rights Issue follows.

Pat Volpe Chairman

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Appendix 3B

New issue announcement

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Cardia Bioplastics Limited

ABN

89 064 755 237

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued 2 Number of +securities issued or to be issued (if known) or maximum number which may be issued 3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Ordinary shares and Options
	1. 214,285,714 Ordinary Shares 2. 214,285,714 Attaching Options
	1. Fully paid ordinary shares 2. Options to acquire ordinary shares exercisable at 1.5 cents ($0.015) at any time before 5pm AEDT on 30 June 2015.

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Appendix 3B

New issue announcement

4 Do the[+] securities rank equally in all Ordinary Shares will rank equally with respectswith an fromexistingthe date+classofofallotmentquoted ordinary shares already on issue. +securities? The Options are a proposed new class of If the additional securities do not options. Upon exercise the shares will rank rank equally, please state: equally with ordinary shares already on  the date from which they do issue.  the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment  the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration 1. Shares 0.7 cents ($0.007) each. 2. Attaching Options – Nil consideration 6 Purpose of the issue The purpose of the rights issue is to provide (If issued as consideration for the funding for working capital purposes up to acquisition of assets, clearly identify the end of the September 2012 quarter, as those assets) the Company progresses its immediate sales opportunities along with funding the Company’s development projects as the bioplastics business gains sales momentum. 7 Dates of entering[[+]] securities into 21 March 2012

• 7 Dates of entering[[+]] securities into uncertificated holdings or despatch of certificates

8 Number and +class of all +securities quoted on ASX (including the securities in clause 2 if applicable) 9 Number and +class of all +securities not quoted on ASX (including the securities in clause 2 if applicable)	Number	+Class
	1,559,938,649 223,390,381 214,285,714	Ordinary shares Options expiring 30 June 2012 exercisable at $0.015 Options expiring 30 June 2015 exercisable at $0.015.
	Number	+Class
	Nil

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Appendix 3B

New issue announcement

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	The Board of Directors will consider establishing a dividend policy upon achievement ofprofitable operations

Part 2 - Bonus issue or pro rata issue

11 Is security holder approval required? 12 Is the issue renounceable or non- renounceable? 13 Ratio in which the +securities will be offered 14 +Class of +securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions 18 Names of countries in which the entity has +security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission	No.
	Renounceable Rights Issue
	One new share for every four shares held on the Record Date plus one attaching option for each new share subscribed.
	Fully paid Ordinary Shares.
	23 February 2012
	N/A
	Rounded down.
	All countries in which the entity has security holders except Australia and New Zealand.
	13 March 2012
	Patersons Securities Limited
	1. On proposed $1.5 Million underwriting: (a) a fee of 6% of the underwritten amount of $1.5M; (b) Lead Manager fee of $60,000. 2. 6% of anyshortfall sharesplaced.

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Appendix 3B

New issue announcement

22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of +security holders 25 If the issue is contingent on +security holders’ approval, the date of the meeting 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable) 30 How do +security holders sell their entitlements in full through a broker? 31 How do +security holders sell part of their entitlements through a broker and accept for the balance? 32 How do +security holders dispose of their entitlements (except by sale through a broker)? 33 +Despatch date	Patersons Securities Limited
	N/A
	N/A
	N/A
	27 February 2012
	10 February 2012
	17 February 2012
	5 March 2012
	Details provided in Prospectus.
	Details provided in Prospectus.
	Details provided in Prospectus.
	21 March 2012

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Appendix 3B New issue announcement

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities

• ( tick one )

• (a)  Securities described in Part 1

• (b)  All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders

36 If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

• 37 A copy of any trust deed for the additional[+] securities

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Appendix 3B New issue announcement

Entities that have ticked box 34(b)

• 38 Number of securities for which +quotation is sought

• 39 Class of +securities for which quotation is sought

40 Do the[+] securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

Number +Class

42 Number and[+] class of all[+] securities quoted on ASX ( including the securities in clause 38)

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Appendix 3B New issue announcement

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those +securities should not be granted +quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C (6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.

• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the[+] securities to be quoted, it has been provided at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

Print name: Rekha Bhambhani Date: 21/03/2012 (Company Secretary)

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