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MYECO GROUP LTD — Capital/Financing Update 2018
Nov 15, 2018
65304_rns_2018-11-15_f2d5d234-286a-4c53-9b8d-afa7fbb50b01.pdf
Capital/Financing Update
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ASX AND MEDIA RELEASE
16 November 2018
Rights Issue Shortfall Notification
SECOS Group Limited (ASX: SES) ( Company ) refers to its announcement on 23 October 2018 in relation to a non-renounceable pro-rata rights issue to Eligible Shareholders pursuant to the Rights Issue Information Booklet dated 23 October 2018 ( Rights Issue ).
The Rights Issue included a top up facility offer whereby Eligible Shareholders were entitled to apply for additional New Shares in excess of their Entitlement ( Shortfall Offer ).
The Company is pleased to announce that the Rights Issue closed on Tuesday, 13 November 2018 at 5:00pm (AEDT), with the Company receiving applications for 13,881,703 New Shares to raise $860,665 (before costs), representing 9,363,034 New Shares applied for under the pro-rata entitlements of the Rights Issue and 4,518,669 New Shares applied for under the Shortfall Offer.
The maximum number of New Shares that were available to be issued under the Rights Issue was 42,246,750, therefore the remaining shortfall of the Rights Issue is 28,365,047 shares ( Rights Issue Shortfall ). As stated in the Rights Issue Information Booklet, the Company has reserved the right to place the Rights Issue Shortfall within 3 months of the closure of the Rights Issue.
A summary of the result of the Rights Issue is as follows:
| New Shares | Number | Value |
|---|---|---|
| New Shares subscribed for under the pro-rataentitlement of the Rights Issue | 9,363,034 | $580,508 |
| Shortfall Shares subscribed for under theShortfall Offer | 4,518,669 | $280,157 |
| Right Issue Shortfall capable of being placedby the Company within 3 months | 28,365,047 | $1,758,633 |
| Total | 42,246,750 | $2,619,298 |
The Company will issue the New Shares applied for under the Rights Issue and dispatch holdings statements to shareholders on Tuesday, 20 November 2018, with trading to in respect of those New Shares to commence on Wednesday, 21 November 2018.
Richard Tegoni Executive Chairman
SECOS Group Limited (ASX: SES) ACN 064 755 237 Level 2, Suite 6, 205-211 Forster Road Mount Waverley VIC 3149 Australia t: +613 8566 6800 e: [email protected] www.secosgroup.com.au
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For more information, please contact:
Richard Tegoni Executive Chairman +61 411 110 901 [email protected]
Tim Dohrmann Investor and Media Enquiries +61 468 420 846 [email protected]
About SECOS Group Limited
SECOS Group Limited (ASX: SES) is a leading developer and manufacturer of sustainable packaging materials. Based in Melbourne, Australia, SECOS supplies its proprietary biodegradable resins, packaging products and high-quality cast films to a blue-chip global customer base.
SECOS holds a strong patent portfolio and the global trend toward sustainable packaging is fueling the Company’s growth.
The Company’s headquarters and Global Application Development Centre are based in Melbourne, Australia. SECOS has a Product Development Centre and manufacturing plant for resins and finished products in Nanjing, China, with manufacturing plants for high quality cast films in Melbourne and Kuala Lumpur, Malaysia. SECOS has sales offices in Australia, Malaysia, China and the US, with a network of leading distributors across the Americas, Europe, Asia, the Middle East, Africa and India.
SECOS Group Limited (ASX: SES) ACN 064 755 237 Level 2, Suite 6, 205-211 Forster Road Mount Waverley VIC 3149 Australia t: +613 8566 6800 e: [email protected] www.secosgroup.com.au