Ecovista Plc
LSE : ALLO

February 14, 2011 11:30 ET

Final Results year ended 31 December 2010

ECOVISTA PLC
RESULTS FOR THE YEAR ENDED 31 DECEMBER 2010


Chairman's statement

Since  my appointment on the 8th July 2010 as Chairman of your company, on behalf of the Board of Directors
of  Ecovista PLC, I have the pleasure of presenting to you the results of the company for the year ended 31
December 2010.

Overview

The  accounts  for  the year to 31 December 2010 showed a loss of GBP53,123, an increase  in  the  loss  in
comparison  to the previous year largely due to the directors fees which amounted to GBP27,000 mostly  paid
to  the  previous directors of your company. However, the new board of directors continues to keep a  tight
rein on the remaining costs to a bare statutory minimum.

Post balance sheet event

The  board  has  today successfully completed an initial fund raise of GBP300,000 through the  issue  of  a
convertible loan note.

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 is 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


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 2010

                                                                        2010              2009
                                                                         GBP               GBP
                                                                                          
Turnover                                                                   -                 -
Cost of sales                                                              -                 -
                                                                      -------           -------
Gross profit                                                               -                 -
                                                                                          
Administrative expenses                                               (53,123)          (20,790)
                                                                      -------           -------
                                                                                          
Operating loss                                                        (53,123)          (20,790)
Interest received                                                          -                  3
                                                                      -------           -------
                                                                                          
Loss on ordinary activities before taxation                           (53,123)          (20,787)
                                                                                          
Tax on loss on ordinary activities                                          -                 -
                                                                      -------           -------
                                                                            -                 -
Loss for the year                                                     (53,123)          (20,787)
                                                                      -------           -------
                                                                                          
                                                                                          
Loss per share - Basic                                                 (0.04p)           (0.02p)
                                                                                          

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 2010

                                                             2010                          2009
                                                      GBP            GBP            GBP            GBP
                                                                                              
Current assets                                                                                
Debtors                                             3,819                         3,819          
Cash at bank and in hand                           11,520                        43,317         
                                                  -------                       -------    
                                                   15,339                        47,136         
                                                                                              
Creditors: amounts falling due within                                                         
one year                                          (16,750)                      (10,424)
                                                  -------                       -------        
                                                                                              
Total assets less current liabilities                             (1,411)                        36,712
                                                                                              
Creditors: amounts falling due after                                                          
more than one year                                              (101,428)                      (101,428)
                                                                 -------                        -------
                                                                (102,839)                       (64,716)
                                                                 -------                        -------
Capital and reserves                                                                          
Called up share capital                                          128,722                        128,572
Share premium                                                     14,850                              -
Profit and loss account                                         (246,411)                      (193,288)
                                                                 -------                        -------
Shareholders' funds - equity                                                                  
interests                                                       (102,839)                       (64,716)
                                                                 -------                        -------
                                                                                              

NOTES TO PRELIMINARY RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2010

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 Allura 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 14 February 2011.

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 136,174,907 (2009 - 128,572,167) and the loss after tax was GBP 53,123  (2009  -  GBP
20,787).

Contact Information

  • Ecovista Plc