Final Results

Ethanol Investments PLC 24 April 2008 Ethanol Investments plc ('EI' or the 'Company') Final Results For the year ended 31 December 2007 The Company is pleased to announce its final results for the year ended 31 December 2007. The Company's Annual Report and Accounts and Notice of the Annual General Meeting have been posted to shareholders today and are also available from the Company's website: www.eiplc.co.uk. The Company's AGM has been convened for 9.15a.m on Monday 19 May at the offices of Grundberg Mocatta Rakison LLP, Fifth Floor, Imperial House, 15-19 Kingsway, London WC2B 6UN. Enquiries: EI: Peter Greensmith Tel: 020 7877 5040 Seymour Pierce: Jonathan Wright/Matthew Thomas Tel: 020 7107 8000 Chairman's statement Results The income statement shows the loss for the period. During the period under review, and until the completion of the next round of investments, your Board has also ensured that costs within the business remain under strict control, with directors taking no salaries or fees. The future On 18 December 2007, Ethanol Investments plc announced that it had entered into Heads of Terms to acquire a portfolio of minority position investments in a range of private and public companies active in the international renewable and alternative energy sectors. It is the intention of your board that following completion of these acquisitions of interest, the name of your company will be changed to Evergreen Securities plc. Additionally, and contingent on the completion of these acquisitions, it is also proposed that Laurence Holyoake and Emma Myers be appointed to the Board. The proposed acquisitions, name change and Board appointments are intended to provide the platform for the creation of a major new 'hands-on' and supportive investment company with a focus on the European renewable energy and related sectors. The company intends to deliver enhanced returns to its Shareholders, through the active management of its investments. As part of this focus on value-creation within the renewable sector, I am also pleased to report that since the year end your company has taken the opportunity to sell a major proportion of its existing investment in TMO Renewables, for a premium to the price paid by the company at the time of its initial investment in January last year. Whilst it is your Board's intention that the majority of investments it will make in the future will be paid for exclusively by the issuance of new equity, it is gratifying to report to shareholders that, even in these days of unprecedented fragility in the capital markets, your company reached a position where it should shortly complete the raising of additional capital by way of a private placement. Such support and the formation of such a strong, international and high-calibre Board, should mean that your company can look forward to the future with renewed confidence. Peter Greensmith Chairman Income Statement for the year ended 31 December 2007 2007 2008 Notes £'000 £'000 Administrative expenses (227) (249) ---------- --------- Operating loss (227) (249) Interest receivable 5 36 ---------- --------- Loss before taxation (222) (213) Taxation - - ---------- --------- Loss attributable to equity shareholders (222) (213) ---------- --------- Earnings per share Basic and fully diluted loss per share 1 (0.02p) (0.02p) The operating loss in both years arises from the Company's continuing operations. Balance Sheet as at 31 December 2007 2007 2008 £'000 £'000 Current Assets Available-for-sale investments 542 - Trade and other receivables 16 15 Cash and cash equivalents 5 695 --------- --------- Total assets 563 710 Current liabilities Trade and other payables (151) (76) --------- --------- Net Current Assets 412 634 --------- --------- Net Assets 412 634 --------- --------- Equity Share capital 538 538 Share premium account 1,952 1,952 Share option reserve 106 106 Accumulated losses (2,184) (1,962) --------- --------- Total equity 412 634 --------- --------- Statement of Changes in Equity for the year ended 31 December 2007 Share Share Share Capital Premium Option Accumulated Ordinary Deferred Account Reserve Losses Total £'000 £'000 £'000 £'000 £'000 £'000 Balance at 31 December 2005 35 503 1,952 106 (1,749) 847 Loss for the year and total recognised - - - - income and expense for the year (213) (213) ------------------- ------- ------- -------- -------- --------- ------- Balance at 31 December 2006 35 503 1,952 106 (1,962) 634 Loss for the year and total recognised - - - - income and expense for the year (222) (222) ------------------- ------- ------- -------- -------- --------- ------- Balance at 31 December 2007 35 503 1,952 106 (2,184) 412 ------------------- ------- ------- -------- -------- --------- ------- Cash Flow Statement for the year ended 31 December 2007 2007 2006 £'000 £'000 Net cash used in operating activities (153) (266) Cash flow from investing activities: Purchase of investment (542) - Interest received 5 36 Net cash (used in)/generated by investing activities (537) 36 Net (decrease) in cash and cash equivalents (690) (230) Cash and cash equivalents at 1 January 695 925 Cash and cash equivalents at 31 December 5 695 Notes to the financial statements for the year ended 31 December 2007 1. Earnings per share 2007 2006 £'000 £'000 Loss for the purpose of basic and diluted loss per share (222) (213) Number of shares: Weighted average number of ordinary shares in issue during the year 1,402,491,371 1,402,491,371 This information is provided by RNS The company news service from the London Stock Exchange

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