REPORTS RESULT OF ECD CONVERSION

13 June 1996
Loxley Plc (LOXLEY) reported a result of convertible debentures' conversion that on May, 1996, no holders use their rights to convert the convertible debentures to the company's common shares. The company previously issued Euro-Convertible Debentures (ECD) worth US$100 million offering to foreign investors during April 20 - May 20, 1995. Those ECD holders are eligible to convert their convertible debentures to the company's common shares after July 20, 1995.