Ecovista Plc

December 03, 2014 09:45 ET

Result of AGM

Result of AGM

Ecovista Plc (the "Company") announces that at the an Annual General meeting of the Company held at 11.00
am today at Finsgate, 5-7 Cranwood Street, London EC1V 9EE. All the resolutions below were passed.

As a  result the  Company's investment strategy has been changed to be focused on the property and real
estate sector, with the objective being to provide  shareholders with  strong investment returns and a
balanced exposure to lower risk income generating assets and opportunities that will provide a higher
capital return.

Further details are set out below.

The resolutions passed at the Annual General Meeting were as follows:-


    1.  To receive and adopt the Annual Report and Accounts for the year ended 31 December 2013 together
        with the directors' report and auditors' report on those accounts.

    2.  To re-appoint Jeffreys Henry LLP as auditors of the Company to hold office until the conclusion of
        the next general meeting at which the accounts are laid before the members and to authorise the directors
        to fix their remuneration.
    3.  To  re-appoint as a Director Russell Laikin, who retires in accordance with Article 106 of the
        Articles of Association of the Company.
    4.  THAT the directors be and they are hereby generally and unconditionally authorised pursuant to
        Section 551 of the Companies Act 2006 to exercise any power of the company to allot and grant rights to
        subscribe for or to convert securities into shares of the company up to a maximum nominal amount equal to
        the nominal amount of the authorised but unissued share capital at the date of the passing of this
        resolution. 670,000,000 shares. Provided that the authority hereby given shall expire five years after the
        passing of this resolution unless (subject to the said Section 551) previously renewed, revoked or varied
        save that the directors may, notwithstanding such expiry, allot any shares or grant any rights under this
        authority in pursuance of an offer or agreement so to do made by the company before the expiry of this
        authority. This authority is in substitution for all previous authorities conferred on the Directors in
        accordance with section 80 of the Companies Act 1985 or section 551 of the Companies Act 2006, but without
        prejudice to any allotment of shares or grant of Rights already made or offered or agreed to be made
        pursuant to such authorities.

    5.  THAT the Company remains an investment vehicle but changes its investment strategy to be one that
        is  focused on the property and real estate sector, with the objective being to provide shareholders with
        strong  investment returns and a balanced exposure to lower risk  income generating assets  and
        opportunities that will provide a higher capital return.

        It is envisaged that Ecovista's investment criteria will be as follows:
        *   Ecovista will focus on property investments which provide a stable, predictable and low
            risk income stream, with opportunities to enhance value through active management;
        *   Ecovista will also selectively pursue development or redevelopment opportunities where they can
            be pre-let to businesses with strong rental covenants, or in order to protect, enhance or
            extract additional value from existing investments;
        *   Ecovista will invest in distressed property investments where opportunities arise as markets
        Investments outside the above criteria will only be made where risk adjusted returns to
        Shareholders are satisfactory and  Ecovista has the reserves necessary to extract an
        above-market return  from  the investments.
        If Resolution 5 is passed, the Company will be an investment vehicle focused in the property and
        real estate sector.

    6.  THAT, subject to the passing of resolution 5 and in accordance with section 570 of the
        Companies Act 2006,the Directors be generally empowered to allot equity securities as defined in
        section 560 of the Companies Act 2006) pursuant to the authority conferred by Resolution 4, as if section
        561(1) of the Companies Act 2006 did not apply to any such allotment provided that the power is limited to
        the allotment of equity securities:
        a)  in connection with an offer of such securities by way of rights to holders of ordinary shares in
            proportion(as nearly as may be practicable) to their respective holdings of such shares, but subject to
            such exclusions or other arrangements as the directors may deem necessary or expedient in relation to
            fractional entitlements or any legal or practical problems under the laws of any territory, or the
            requirements of any regulatory body or stock exchange; and
        b)  otherwise  than  pursuant to sub-paragraph (a) above up to an aggregate  nominal amount of
            GBP1,000,000,and  provided that such authority shall expire on the conclusion of the next annual
            general meeting of the  Company after the passing of this resolution, save that the Company  may,
            before  such expiry  make an offer or agreement which would or might require equity securities  to
            be  allotted after such expiry and the  directors  may  allot equity securities in  pursuance of
            any  such  offer or agreement notwithstanding that the power conferred by this resolution  has

By Order of the Board

The Directors of the Issuer accept responsibility for this announcement.


Ecovista PLC
Luca Tenuta
39 St James's street
London SW1A 1JD

Jon Isaacs
Alfred Henry Corporate Finance Limited

Tel: +44 (0)20 7251 3762

Dated 3rd December 2014

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