WasteCo - $2m Convertible note announcement

Subscription for $2m of convertible notes

WasteCo Group Limited (WasteCo) advises that a third party wholesale investor has agreed to subscribe for $2 million in unsecured convertible notes in WasteCo.

The new notes mature on 15 October 2027 and provide the holder with flexibility to redeem the notes for cash, or to convert them to WasteCo shares at $0.02 each by notice in writing to WasteCo prior to the maturity date. The annual interest rate is 10%, payable quarterly.

The investor currently holds $1 million of existing convertible notes which have a maturity date of 15 October 2025, and the investor has agreed that the proceeds of redemption will be applied to the subscription price for $1 million of the new notes.

The balance of the subscription of $1 million has been received by WasteCo in cash, and will be used by the WasteCo group for its general corporate purposes.


Roger Gower
Chair


About WasteCo

WasteCo is a leading waste solution company, processing and diverting liquid and solid waste from landfill. It provides comprehensive solutions for household, commercial, industrial and local authority customers.

In 2024, WasteCo acquired 100% of Civic Waste Limited – a leading North Island waste management company. The acquisition of Civic Waste provides WasteCo with an expanded geographic footprint and additional operational scale.

WasteCo is a diamond certified Toitū Enviromark waste solutions provider and delivers outcomes that ensure its customers are at the leading edge of the sustainability frontier.

The company provides waste and sorting options as well as waste remediation, sweeping and industrial cleaning services – all delivered using leading edge technology and highly trained customer-focused staff.

The Christchurch-based business was established in 2013.

---

Announcement PDF