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 stating that on July, 1996, no E.C.D holders
converted their E.C.Ds into the company's common shares.
LOXLEY earlierly issued E.C.Ds worth US$100 million to foreign
investors from April 20 to May 20, 1995. The E.C.D holders are eligible
to convert their E.C.Ds into the company's common shares anytime after
July 20, 1995.