Ecovista Plc
LSE : EVTP

May 30, 2013 10:37 ET

Final Results for the year ended 31 December 2012

ECOVISTA PLC


RESULTS FOR THE YEAR ENDED 31 DECEMBER 2012



Chairman's statement

Overview

The  accounts for the year to 31 December 2012 showed a loss of GBP52,804, comparable to the  loss  in  the
previous year of GBP51,858.   We continue to keep a tight rein on costs; to this end I have, from 1  August
2011,  agreed  to waive my director's fees until such time as we complete a transaction which will  enhance
shareholder value, although, I have charged GBP5,000 as a special fee for all the time that I have spent on
the "Eco Village" project described below.

Outlook

The  company  is  actively seeking investments to enhance shareholder value.   We are maintaining  a  tight
control  of  the Company's resources, which we consider adequate to support current levels of  expenditure.
The  cash  resources  remain adequate for the current level of activity but will be reviewed  once  further
investment opportunities present themselves.

The  Directors  are  presented  with  opportunities on an  ongoing  basis  from  an  extensive  network  of
introducers.  The company continues to focus on "green" eco friendly investments, although the  board  will
also  look  at  other  global opportunities if they present good shareholder value.   During  the  year  we
purchased  an  option to expire on 31 December 2015 as announced, to purchase the entire share  capital  of
Cignella  Sri, a Tuscany based Eco-village of villas powered by state of the art Geo Thermic  Systems.   We
have  also set up two wholly owned subsidiaries, currently dormant, to take advantage of additional 'Green'
investment opportunities; the minor cost has been fully amortised.

The  company continues to look at the electric car industry, in particular the electric car hire  business.
At this stage the products available are not suitable for that venture.

The  directors  will continue to explore other opportunities and are currently looking at  the  alternative
energy  sector and recycling as well as other new opportunities in the 'green' sector as well as  reviewing
other opportunities in the natural resources industry.

In  accordance  with the ISDX rules, since we have not made a material investment since admission  we  will
seek  approval at our Annual General Meeting for the further pursuit of our investment strategy as outlined
above.




L. Tenuta
Chairman

30 May 2013

The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Luca Tenuta
Ecovista Plc
Finsgate
5-7 Cranwood Street
London
EC1V 9EE

Tel:  +44 (0) 844 967 0087


Nick Michaels
Alfred Henry Corporate Finance Limited
Tel:  +44 (0) 20 7251 3762



PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2012
  
                                                                          2012              2011
                                                             Notes         GBP               GBP
                                                                                          
Turnover                                                                     -                 -
Cost of sales                                                                -                 -
                                                                       -------           -------
Gross profit                                                                 -                 -
                                                                                          
Administrative expenses                                                (52,804)          (51,858)
                                                                       -------           -------
                                                                                          
Operating loss                                                         (52,804)          (51,858)
Interest received                                                            -                 -
                                                                       -------           -------
                                                                                          
Loss on ordinary activities before taxation                            (52,804)          (51,858)
                                                                                          
Tax on loss on ordinary activities                                           -                 -
                                                                        -------          -------
                                                                             -                 -
Loss for the year                                                       (52,804)         (51,858)
                                                                        =======          =======
                                                                                          
                                                                                          
Loss per share - Basic                                         2         (0.02p)          (0.03)p
                                                                                          

The profit and loss account has been prepared on the basis that all operations are continuing operations.

There are no recognised gains and losses other than those passing through the profit and loss account.





BALANCE SHEET
AS AT 31 DECEMBER 2012

                                                            2012                      2011
                                                      GBP         GBP           GBP          GBP
                                                                                              
Intangible Fixed Assets                                           250                          -
                                                                                              
Current assets                                                                                
Debtors                                             1,564                      7,992          
Cash at bank and in hand                          205,021                    255,287        
                                                  -------                    -------    
                                                  206,585                    263,279        
                                                                                              
Creditors: amounts falling due within                                                         
one year                                          (54,086)                   (16,548)
                                                  -------                    -------        
                                                                                             
Net current assets                                             152,499                    246,731
                                                               -------                    -------
Total assets less current liabilities                          152,749                    246,731
                                                                                              
Creditors: amounts falling due after                                                          
more than one year                                            (300,000)                  (361,428)
                                                               -------                    -------
                                                              (147,251)                  (114,697)
                                                               =======                    =======
Capital and reserves                                                                         
Called up share capital                                        130,772                    129,922
Share premium                                                   73,050                     53,650
Profit and loss account                                       (351,073)                  (298,269)
                                                               -------                    -------
Shareholders' funds - equity                                                                  
interests                                                     (147,251)                  (114,697)
                                                               =======                    =======
                                                                                              



NOTES TO RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2012

1.      The  financial information set out above does not constitute statutory accounts for the purpose  of
Section  240  of the Companies Act 1985.   The financial information has been extracted from the  statutory
accounts of Ecovista Plc and is presented using the same accounting policies, which have not yet been filed
with the Registrar of companies, but on which the auditors gave an unqualified report on 30 May 2013.

2.      Earnings per share

Basic  earnings per share are calculated by dividing the earnings attributable to ordinary shareholders  by
the  weighted  average number of ordinary shares during the period. The weighted average number  of  equity
shares  in  issue was 331,331,730 (2011 - 201,106,414) and the loss after tax was GBP 52,804  (2011  -  GBP
51,858).

Contact Information

  • Ecovista Plc