Ecovista Plc
LSE : EVTP

May 29, 2015 09:30 ET

Final Results

ECOVISTA PLC
RESULTS FOR THE YEAR ENDED 31 DECEMBER 2014

Chairman's statement

Overview

The accounts for the year to 31 December 2014 showed a loss of GBP70,087, comparable to the loss in the previous year
of GBP46,678. We have raised GBP163,000, which has been satisfied by the issue of 81,500,000 new ordinary shares, thus
strengthening our balance sheet; we continue to keep a tight rein on costs.

The Company remains an investment vehicle but has changed its investment strategy to be one that is focused on the
property and real estate sector, with the appointment of architect Ken Jones to the board.

Outlook

The directors are actively seeking further property investments - commercial and residential - in the UK, South of
Italy and Sardinia to enhance shareholder value. 

Planning will be sought on the land at Willow for a 500 room hotel with direct access to Stansted airport and the
directors are currently looking for buyer of the whole Cignella complex for around Euro 15 million. 

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 activity but will be reviewed once further
investment opportunities present themselves.

L. Tenuta
Chairman 

29 May 2015

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 2014

                                                          2014          2013
                                                Notes      GBP           GBP
                                                                            
Turnover                                                     -             -
Cost of sales                                                -             -
                                                      --------      --------
                                                                            
Gross profit                                                 -             -
                                                                            
Administrative expenses                               (70,087)      (46,678)
                                                      --------      --------
                                                                            
                                                                            
Operating loss                                        (70,087)      (46,678)
Interest received                                            -             -
                                                      --------      --------
                                                                            
                                                                            
Loss on ordinary activities before taxation           (70,087)      (46,678)
                                                                            
Tax on loss on ordinary activities                           -             -
                                                      --------      --------
                                                                            
                                                             -             -
Loss for the year                                     (70,087)      (46,678)
                                                      --------      --------
                                                      --------      --------
                                                                            
                                                                            
                                                                            
Loss per share - Basic                            2    (0.01p)       (0.01)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 2014
                                            2014                2013        
                                       GBP       GBP        GBP       GBP   
                                                                            
Intangible Fixed Assets                             250                  250
                                                                            
Fixed asset investments                         125,002                    -
                                                                            
Current assets                                                              
Debtors                               151,950                3,515          
Cash at bank and in hand               51,426              284,940          
                                    ---------           ----------          
                                                                            
                                      203,376              288,455          
                                                                            
Creditors: amounts falling due                                              
 within one year                     (18,217)            (313,206)          
                                    ---------           ----------          
                                                                            
                                                                            
Net current assets                              185,159             (24,751)
                                              ---------            ---------
                                                                            
Total assets less current                                                   
 liabilities                                    310,411             (24,501)
                                              ---------            ---------
                                              ---------            ---------
                                                                            
Capital and reserves                                                        
Called up share capital                         134,030              132,015
Share premium                                   568,261              113,235
Unissued shares                                  75,958              128,000
Profit and loss account                       (467,838)            (397,751)
                                              ---------            ---------
                                                                            
Shareholders' funds - equity                                                
 interests                                      310,411             (24,501)
                                              ---------            ---------
                                              ---------            ---------
                                                                            

NOTES TO RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2014

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 29 May 2015.

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
669,586,304 (2013 - 422,121,055) and the loss after tax was GBP 70,087 (2012 - GBP 46,678).

Contact Information

  • Ecovista Plc