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MYECO GROUP LTD — Capital/Financing Update 2021
Sep 9, 2021
65304_rns_2021-09-09_cf15a8aa-6568-4ecc-b0a1-c5b8fa1fc524.pdf
Capital/Financing Update
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ASX RELEASE
10 September 2021
Issue of Performance Rights
Sustainable and eco-friendly bioplastics developer SECOS Group Limited (ASX: SES) (“SECOS” or the “Company”) advises that it has today issued a total of 786,425 Performance Rights (“Rights”) to key management personnel of the Company.
The Rights were issued to employees under the Company’s Employee Incentive Plan, approved by shareholder at the Annual General Meeting held on 25 November 2020.
The Rights were issued to employees to aid with the retention and motivation of staff during a time of rapid expansion for the Company.
Each Right issued can be converted to a fully paid ordinary share on satisfying service, performance and share price vesting conditions. The service vesting condition requires the employee remain an employee of the Company until the time of vesting. The Rights will vest variously over three years (30 September 2022, 2023, 2024).
The issue of Employee performance Rights is to current employees and no directors had participated in this round.
Authorized by the Board of Directors.
For more information, please contact:
Richard Tegoni
Executive Chairman +61 411 110 901 [email protected]
SECOS Group Limited (ASX: SES)
ABN 89 064 755 237
Level 3, 302 Burwood Road, Hawthorn, VIC 3122 Australia
T : +613 8566 6800 E : [email protected] E : www.secosgroup.com.au
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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 Group is integrated from resin production, into film (cast and blown) production and can develop bespoke compostable solutions for a range of applications.
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 China and resins plant in Malaysia. The Company also has manufacturing plants for high quality cast films in Malaysia.
SECOS has sales offices in Australia, Malaysia, China, Mexico and USA, with a network of leading distributors across the Americas, Europe, Asia, the Middle East, Africa, and India.
SECOS Group Limited (ASX: SES)
Level 3, 302 Burwood Road, Hawthorn, VIC 3122 Australia
ABN 89 064 755 237
T : +613 8566 6800 E : [email protected] E : www.secosgroup.com.au