Proposed return of cash to Shareholders

 
TIDMEVT 
 
23 June 2011 
 
                                Eurovestech plc 
 
                       ("Eurovestech" or the "Company") 
 
                    Proposed return of cash to Shareholders 
 
Eurovestech is pleased to announce that it has received GBP25 million in cash 
from ITWP Acquisitions Limited ("ITWP") in accordance with ITWP's commitment 
under the terms of the scheme of arrangement for ToLuna plc ("the Scheme of 
Arrangement"). Eurovestech continues to hold loan notes with a nominal value of 
GBP12.2 million and approximately 10 per cent. of the issued share capital of 
ITWP, the holding company of ToLuna Limited (formerly ToLuna plc). ITWP may 
redeem the remaining loan notes before 30 June 2012 and to the extent such loan 
notes are not redeemed, they will be converted into shares in ITWP. 
 
At the time of the announcement of the Scheme of Arrangement, Eurovestech 
provided an indemnity up to a maximum liability of GBP2.6 million which was 
payable in certain circumstances. This indemnity has now been extinguished at 
no cost to the Company. 
 
It is the current intention of the directors of Eurovestech to recommend the 
return to shareholders of in excess of half of the GBP25 million proceeds and 
will provide an update as to the most appropriate method of capital 
distribution following consultation with the Company's major shareholders. 
 
Further information: 
 
Eurovestech plc 
 
Richard Bernstein                                            Tel: [phone] 
 
Chief Executive                                             www.eurovestech.com 
 
Merchant Securities Limited (Nomad) 
 
David Worlidge/Simon Clements                                Tel: [phone] 
 
Cenkos Securities plc (Broker) 
 
Ivonne Cantu                                                 Tel: [phone] 
 
Note to Editors: 
 
Eurovestech's total cost of investment in ToLuna plc was GBP2 million. Since 
ToLuna was floated on AIM in 2005, Eurovestech has received dividends amounting 
to GBP1.1 million from ToLuna and realised GBP39.2 million in cash from the sale of 
ToLuna shares. 
 
 
 
END