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…Details
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”).Details
Chinese and Australian Officials Visit SECOS’ Chinese Operations in Show of Support For Bioplastics Producer
- Chinese and Australian key government stakeholders visit SECOS’ environmental bioplastics operations in Nanjing, China in a sign of support for the Group’s operations.
- SECOS’ recently appointed General Manager of Chinese operations, Mr Leo Lu, sees opportunities for further growth and investment with the Nanjing plant now running at high capacity utilisation.
- SECOS’ Chinese operations are key to the Company’s corporate strategy in meeting ongoing growth in international demand for compostable and biodegradable plastics.
- 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
Spain has received a final warning from the EU commission, advising the member state that it must implement EU rules on lightweight plastic carrier bags. If they do not, they will face infringement proceedings before the European Court of Justice. Read the full article by EUWID hereDetails
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Biodegradable and compostable plastics maker Secos Group says it is getting closer to achieving group profitability now that two of its three business units are operating profitably