REPORTS AUGUST CONVERSION RESULTS OF ECDs

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Loxley Plc. (LOXLEY) reported that its August '96 conversion of Euro Convertible Debentures (ECD) produced no participants during the month. Previously on April 4, 1996, LOXLEY issued second round ECDs worth US$105 offered to foreign investors. The ECD conversion was scheduled beginning July 4, 1996 until the end.