Share capital reorganisation

12 September 2014

Eco City Vehicles PLC

("ECV" or "the Group")

Share capital reorganisation

Eco City Vehicles PLC, the exclusive supplier of the licensed Mercedes Vito taxi, announces that following approval by shareholders at the annual general meeting on 14 August 2014 of its share capital reorganisation, application has been made for the admission of the new ordinary shares to be admitted to trading on AIM.

Under the share capital reorganisation the existing ordinary shares of 1 pence each in the capital of the Company are subdivided into ordinary shares and deferred shares in order to deal with the fact that the existing ordinary shares are currently trading at a discount to their nominal value of 1 penny. Each existing ordinary share of 1 penny is sub-divided and converted into one new ordinary share of 0.1 pence and one deferred share of 0.9 pence. The creation of a class of deferred shares will ensure that the reduction in the nominal value of the ordinary shares effected by the sub-division will not result in an unlawful reduction in the Company's share capital. The deferred shares will have minimal rights which will render them effectively worthless.

Each new ordinary share arising from the sub-division will have the same rights (except as to nominal value, but including voting rights, dividend rights and rights on a return of capital) as each existing ordinary share. There will be no change in the number of ordinary shares in issue as a result of the sub-division. The sub-division will not have any effect on the Company's net assets. Each shareholder's proportionate interest in the Company's issued ordinary share capital will remain unchanged as a result of the Share Capital Reorganisation.

The new ordinary shares are expected to be admitted to trading on 16 September 2014 and will retain the same ISIN: GB0034353754

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