clarifies news

22 April 1994
LOXLEY CLARIFIES NEWS Loxley Plc (LOXLEY) clarified on news that was previously reported in some newspapers about the company plans to enter into a co-investmentment with Hitachi Co Ltd to operate a production-line businesses, with an investment ratio of 51 to 49, and that LOXLEY is still waiting for the outcome of a feasibility study of the local market. LOXLEY said the published reports were true, and that the company's board of directors will wait for the outcome of the report prior to making a final decision. LOXLEY has not yet disclosed this information to SET. But, LOXLEY said the investment ratio stated in the reports is not true, saying the company's executives did not disclose news to any foreigners, or to any newsapaers, regarding a company plan to enter the joint-investment in a ratio of 49 to 51. LOXLEY said it has not decided on the investment ratio, and is still in the process of feasibility study. Translated by The Nati