REPORTS RESULT OF 2nd E.C.D CONVERSION
11 October 1996
Loxley Plc (LOXLEY) reported on the result of its 2nd Euro
Convertible Debenture (E.C.D) conversion stating that in September, 1996,
no holders converted their E.C.Ds into the company's common shares.
LOXLEY previously issued and offered E.C.Ds worth US$105 million to
foreign investors since April 4, 1996. The holders are eligible to
convert them into the company's common shares after July 4, 1996.