DISCLOSES RESULT OF MAY ECD CONVERSION OF ISSUE II
11 June 1997
Loxley Plc (LOXLEY) disclosed in The May ECD conversion no holder
attended this 11th session at all. Formerly LOXLEY had made the 2nd
issueance of ECD worth US$105 million on Apr 4, 1996 with put option and
the conversion is available after July 4, 1996 henceforth.