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MYECO Group Ltd (ASX:MCO)

ALERT: Price-sensitive ASX Announcement for MCO
Current share price for MCO : $0.021 0.009 (75%)+
Announcement
Release
20 Apr 2026 9:35AM
Price at Release
$0.012
Full Release
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Summary
MyEco Group Ltd, a developer and manufacturer of sustainable packaging materials, announced a successful raise of $0.92m under its Series 2 Convertible Note Program. The convertible notes, issued to sophisticated investors, carry an interest rate of 10.5% per annum, are convertible at a 15% discount to the 14-day VWAP, and have a conversion period starting twelve months after issuance. They feature a three-year maturity with mandatory conversion at maturity and are part of the company's efforts to fund growth plans while minimizing shareholder dilution. The capital raised supplements the company's existing cash reserves and supports the expansion of its product range, including a GRS certified Post-Consumer Recycled bin liner range.
Key Points
  • MyEco Group raised $0.92m through Series 2 Convertible Note Program.
  • Convertible notes accrue 10.5% interest annually, with quarterly payments.
  • Notes convertible at 15% discount to 14-day VWAP, subject to price limits.
  • Conversion period starts twelve months post-issue, with a three-year maturity.
  • Funds to support growth and development of sustainable packaging solutions.
  • Notes issued under ASX Listing Rule 7.1, utilizing 15% placement capacity.
  • Proceeds support GRS certified Post-Consumer Recycled bin liner range.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.