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RNS Number : 8217D

TXO PLC

02 February 2015

TXO PLC

("TXO" or the "Company")

Issue of equity

The Company announces that it has received notice of exercise of conversion rights in respect of GBP50,000 of the GBP425,000 convertible security issued as announced on 19 February 2014 ("February Convertible"). Following the issuance of the shares in the conversion, the balance of the February Convertible will be GBP89,900.

Under the convertible securities issuance deed announced on 11 February 2014 ("the Deed"), 50,000,000 Ordinary Shares therefore fall to be issued at a conversion price of 0.1p ("Conversion Shares"). Under the Deed, an additional 21,225,072Ordinary Shares are being issued by way of a fee ("Fee Shares"). As a result, 71,225,072Ordinary Shares, being the total of the Conversion Shares and the Fee Shares (the "New Ordinary Shares"), fall to be issued by the Company.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place on 06 February 2015. 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 1,133,863,849 Ordinary Shares with voting rights. The Company does not hold any shares in treasury. This figure of 1,133,863,849 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.

02(nd) February 2015

For further information, please contact:

TXO PLC

   Tim Baldwin, Chairman                                                     +44 (0) 207 518 4300 
   Northland Capital Partners Limited                               +44 (0) 207 382 1100 

John Howes / Alice Lane

Sales and Broking

Edward Hutton / William Vandyk

Nominated Adviser

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

END

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