An announcement from SECOS Group Ltd ( (AU:MCO) ) is now available.
MyEco Group Ltd has successfully raised $1.6 million through the issuance of unsecured convertible notes to sophisticated investors. This funding will support the company’s growth plans and operational restructuring initiatives, which aim to reduce annual fixed costs by up to $3 million. The restructuring includes scaling production capacity through partnerships in Southeast Asia, rationalizing manufacturing assets in Malaysia, and relocating key operations to more cost-effective locations. These efforts are expected to streamline operations, improve product margins, and enhance the company’s ability to achieve positive EBITDA, thereby protecting shareholder value in challenging market conditions.
More about SECOS Group Ltd
MyEco Group Ltd is a leading developer and manufacturer of sustainable packaging and materials, focusing on environmentally friendly packaging products.
YTD Price Performance: -15.00%
Average Trading Volume: 146,537
Technical Sentiment Signal: Buy
Current Market Cap: A$10.14M
Find detailed analytics on MCO stock on TipRanks’ Stock Analysis page.