REPORTS RESULT OF E.C.D CONVERSION
16 August 1996
Loxley Plc (LOXLEY) reported the result of its Euro Convertible
Debenture (E.C.D) conversion that in July, 1996, no E.C.D holders
converted their E.C.Ds into the company's common shares.
LOXLEY previously issued E.C.D.s for the second period to foreign
investors worth US$105 million since April 4, 1996. The E.C.D holders are
able to convert their E.C.Ds into the company's common shares after July
4, 1996 onwards.