INFORMS ECD CONVERSION RESULT IN MARCH

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Loxley Plc. (LOXLEY) notified result of its 21st conversion in March 1997 on Euro Convertible Debentures (ECDs), saying that no conversion intentions were forwarded during the month. LOXLEY has between April 20 and May 20, 1995 offered these ECDs, worth US$100 million totally, in the foreign market. Holders of these ECDs were granted the right to convert the ECDs into the company's common shares from July 20, 1995 onwards.