NOTIFIES MARCH'S CONVERSION RESULT OF ECD-II
09 April 1997
Loxley Plc. (LOXLEY) notified result of its 9th conversion in March
1997 on Euro Convertible Debentures (ECDs) issued in the second tranche,
in that no conversion intentions were forwarded during the month.
LOXLEY has on April 4, 1996 offered these ECDs, worth US$105 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 4,
1996 onwards.