CEO Appointment and Corporate Costs Reduction

Highlights:

• SECOS appoints international polymer executive and change manager, Ian Stacey, as CEO
• Corporate costs review achieves $0.8 million in fixed overhead savings
• New structure enhances support for business units and SECOS’ key customers • Business progress on track for stronger second half resulting from the completion of first half restructuring initiatives

SECOS completes strategic review, resolves to cease its Australian film manufacturing operations

Highlights:

• Following completion of its strategic review into its wholly owned subsidiary Stellar Films Australia (SFA), SECOS will commence the orderly cessation of its Australian film manufacturing operations.
• The Company expects to achieve significant operating and overhead cost savings through transferring SFA customers to its Malaysian operations. Once this transition period has passed, SECOS expects to achieve an improvement to net profit after tax of more than $0.9 million per annum.

SECOS appoints Jim Walsh as Non-Executive Director

Highlights:

• Experienced Director and business strategist Jim Walsh joins the SECOS Board
• Mr Walsh is founder and MD of corporate advisory firm Rathaney Consulting and is Chairman of private health fund GMHBA Ltd
• Previous diverse industrial senior finance roles with Godfrey Hirst Australia and AG Coombs

$4 million Capital Placement and Non-Renounceable Rights Issue

The Board of sustainable and eco-friendly bioplastics developer SECOS Group Limited (ASX: SES) (Company) announces that it has received commitments in relation to a private placement to sophisticated and professional investors of 15,179,597 Shares at an issue price of $0.062 per share raising approximately $1.2 million (Placement). Placement to be issued under ASX Listing Rule…

Strategic Review of Stellar Films Australia

The Board of sustainable and eco-friendly bioplastics developer SECOS Group Limited (ASX: SES, “the Company”) announces that it is undertaking a strategic review of its wholly owned subsidiary, Stellar Films Australia (SFA), and SFA’s Australian cast film manufacturing assets (“Strategic Review”).

Malaysian Resin Plant Goes Live

The Board of sustainable and eco-friendly bioplastics developer SECOS Group Limited (ASX: SES, “the Company”) is pleased to announce that its new Malaysian resin plant has successfully gone live on 31 July 2018.

Non-Executive Director appointment strengthens SECOS Board

• SECOS appoints internationally experienced plastics industry veteran David Wake as Non-Executive Director
• Mr Wake brings a stellar track record of unlocking shareholder value and an ability to contribute to the Company’s global ambitions
• Mr Wake makes a $150,000 investment in the Company via a share placement to establish an initial director interest