REPORTS ON RESULT OF E.C.Ds CONVERSION
18 November 1996
Loxley Plc (LOXLEY) reported on result of Euro Convertible
Debentures (E.C.Ds) conversion that on October, 1996, there is no holder
converted their E.C.Ds to the company's common shares.
LOXLEY previously issued E.C.Ds worth totalling of US$100 million to
foreign investors from April 20 to May 20, 1995. The holders were eligible
to convert their E.C.Ds before the maturity. The conversion started
fromJuly 20, 1995 onwards.