MyEco Group Ltd (ASX: MCO), a company actively engaged in developing and distributing eco-friendly products, with a focus on waste management solutions and broadening its retail presence for sustainable home categories, has successfully completed a capital raise totalling $605,000. The raise was achieved through a combination of a Share Purchase Plan (SPP) and a share placement to sophisticated and professional investors. The SPP garnered $277,000 from eligible shareholders, while firm commitments from the Placement added an additional $328,000 before costs.
The funds secured from both the SPP and the Placement are strategically allocated to fuel MyEco’s growth initiatives. Key areas for investment include expanding council and waste management sales, broadening the company’s retail distribution channels, and diversifying its product range, particularly into more eco-home categories. The Placement component also notably includes subscriptions from Non-Executive Directors, Mr Don Haller Jnr and Mr Jim Walsh, for 8,851,513 and 588,236 shares respectively, which remain subject to shareholder approval at the company’s upcoming Annual General Meeting.
Shares under both the SPP and Placement were offered at an Issue Price of $0.017 per share. This price was determined as a 10.0% discount to the volume weighted average price (VWAP) of MyEco shares traded over the five days leading up to and including the SPP close, capped at a maximum of $0.018 per share. A total of 16,270,609 shares from the SPP are scheduled for issuance on Monday, 19 October 2026, commencing trading on the ASX on Tuesday, 20 October 2026. The 19,301,058 Placement shares, issued under ASX Listing Rule 7.1 capacity, will be issued on Wednesday, 21 October 2026, and are expected to begin trading on the ASX on Thursday, 22 October 2026.
MyEco Group extended its gratitude to all shareholders for their continued support and welcomed the new investors participating in the Placement. The successful capital raise positions the company to pursue its strategic growth objectives in the sustainable products market.
