Ecovista Plc
LSE : EVTP

May 02, 2012 04:32 ET

Final Results to 31 December 2011

ECOVISTA PLC
RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011



Chairman's statement

Overview

The  accounts for the year to 31 December 2011 showed a loss of GBP 51,858, comparable to the loss  in  the
previous year of GBP 53,123.   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.

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 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.  The company continues  to
look  at  the  electric car industry in particular the electric car hire business, but 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 PLUS Markets 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

2 May 2012

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 2011

                                                                        2011              2010
                                                                         GBP               GBP
                                                                                          
Turnover                                                                   -                 -
Cost of sales                                                              -                 -
                                                                     -------           -------
Gross profit                                                               -                 -
                                                                                          
Administrative expenses                                              (51,858)          (53,123)
                                                                     -------           -------
                                                                                          
Operating loss                                                       (51,858)          (53,123)
Interest received                                                          -                 -
                                                                     -------           -------
                                                                                          
Loss on ordinary activities before taxation                          (51,858)          (53,123)
                                                                                          
Tax on loss on ordinary activities                                         -                 -
                                                                     -------           -------
                                                                           -                 -
Loss for the year                                                    (51,858)          (53,123)
                                                                     -------           -------
                                                                                          
                                                                                          
Loss per share - Basic                                               (0.03)p           (0.04)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 2011

                                                             2011                          2010
                                                      GBP            GBP            GBP            GBP
                                                                                              
Current assets                                                                                
Debtors                                             7,992                         3,819          
Cash at bank and in hand                          255,287                        11,520         
                                                  -------                       -------    
                                                  263,279                        15,339         
                                                                                              
Creditors: amounts falling due within                                                         
one year                                          (16,548)                      (16,750)
                                                  -------                       -------        
                                                                                              
Total assets less current liabilities                            246,731                        (1,411)
                                                                                              
Creditors: amounts falling due after                                                          
more than one year                                              (361,428)                     (101,428)
                                                                 -------                       -------
                                                                (114,697)                     (102,839)
                                                                 =======                       =======
Capital and reserves                                                                          
Called up share capital                                          129,922                       128,722
Share premium                                                     53,650                        14,850
Profit and loss account                                         (298,269)                     (246,411)
                                                                 -------                       -------
Shareholders' funds - equity                                                                  
interests                                                       (114,697)                     (102,839)
                                                                 =======                       =======
                                                                                              

NOTES TO RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2011

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 April 2012.

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 201,106,414 (2010 - 136,174,907) and the loss after tax was GBP 51,858  (2010  -  GBP
53,123).

Contact Information

  • Ecovista Plc