REPORTS JANUARY CONVERSION RESULT OF ECD-II
12 February 1997
Loxley Plc. (LOXLEY) released conversion result of the Euro
Convertible Debentures (ECD) worth US$105 million it offered to foreign
investors in the second tranche on April 4, 1996, saying that no ECD
holders forwarded conversion intention in January 1997.
Holders of these ECDs hold a put option beginning July 4, 1996.