Ecovista Plc

December 10, 2014 11:24 ET

Market update

                                            Ecovista PLC
                                    ("Ecovista" or the "Company")

Market Update

In  July  2012  we  announced that the Company had entered into a Call  Option  Agreement  which  if
exercised by the 31st December 2015 gives the Company the right to purchase the entire  issued share
capital of Cignella Srl ("Cignella").

And  subsequently in January 2014  we announced a loan to Cignella of  GBP150,000.  The  board  have
agreed  to  extend the loan for a further 12 months on the same terms and  in return the  owners  of
Cignella have agreed to extend the Call Option agreement by a further 12 months.

The option is to buy all the shares in Cignella Srl for Euro 4.5m. We believe the net asset value of
Cignella Srl,  based on a current valuation  of the property,  exceeds this amount,  however this is
subject to carrying out the necessary due diligence.

The Cignella Estate ( is set in a striking position
on  a  hill top overlooking the glorious  southern  Tuscan countryside this is a development  of  18
villas overlooking the 200 acre estate.  The Estate is situated some 20 miles south-east of Siena in
southern Tuscany, close to the wine country of Chianti and Brunello.

The  board  are currently looking to secure a buyer for  the site in order to realise the  potential
profit for Ecovista shareholders.

The Directors of the Company accept responsibility for this announcement.

Luca Tenuta 
Tel: +44 (0) 7900 242 769 

Jon Isaacs
Alfred Henry Corporate Finance Limited 
Tel: +44 (0) 20 7251 3762 

10th December 2014

Contact Information

  • Ecovista Plc