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Thursday 03 July, 2014


Conversion of Securities

RNS Number : 4232L
03 July 2014


("TXO" or the "Company")

Issue of equity

The Company announces that it has received notice of exercise of conversion rights in respect of £17,000 of the £425,000 convertible security issued as announced on 19 February 2014.

Under the convertible securities issuance deed announced on 11 February 2014 ("the Deed"), 10,265,700 Ordinary Shares have therefore been issued by the Company at a conversion price of 0.1656p ("New Ordinary Shares").  Application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission").  Admission is expected to take place on 9 July 2014.  The New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.

Following Admission, the Company's enlarged issued share capital will comprise 664,234,399 Ordinary Shares with voting rights.  The Company does not hold any shares in treasury.  This figure of 664,234,399 Ordinary Shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

03 July 2014


For further information, please contact:

Tim Baldwin, Chairman and CEO

+44 (0) 207 518 4300

Northland Capital Partners Limited

John Howes / Alice Lane
Sales and Broking

Edward Hutton / William Vandyk
Nominated Adviser

+44 (0) 207 382 1100


Lothbury Financial Services Limited
Michael Padley / Chris Roberts

+44 (0) 203 440 7620





This information is provided by RNS
The company news service from the London Stock Exchange

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