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Monday 01 September, 2014


Issue of Equity

RNS Number : 5512Q
01 September 2014

FOR IMMEDIATE RELEASE                                                                 01 September 2014

("TXO" or the "Company")

Issue of equity

The Company announces that it has received notice of exercise of conversion rights in respect of £29,500 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"), 21,564,327 Ordinary Shares have therefore been issued by the Company at a conversion price of 0.1368p ("New Ordinary Shares").  Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission").  Admission is expected to take place on 5 September 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 721,990,431 Ordinary Shares with voting rights.  The Company does not hold any shares in treasury.  This figure of 721,990,431 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.

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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