CLARIFIES NOV'S ECD CONVERSION RESULT
16 December 1996
Loxley Plc (LOXLEY) quoted as saying that it had previously issued
Euro-Convertible Debenture (ECD), worth US$100 million, for offering to
foreign investors on April 20 - May 20, 1995. These ECDs were attached
with put option. Holders of these ECDs may convert their ECDs after July
20, 1995.
The company announced that no ECD holders exercised their rights in
this procedures in November, 1996 at all.