REPORTS ON NOVEMBER CONVERSION RESULT OF ECDs #2
16 December 1996
Loxley Plc. (LOXLEY) reported on conversion result in November 1996
of Euro-Convertible Debentures (ECDs) worth US$105 million it offered to
foreign investors in the 2nd round, saying that no ECD holders
participated in the this recent conversion.
These ECDs have previously been issued an offered to foreign investors
on April 4, 1996, with put option granted to holders. The conversion of
these ECDs has began since July 4, 1996.