TXO : Issue of Equity

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 £58,600 of the £425,000 convertible security issued as announced on 19 February 2014 (the "February Convertible"), and £35,000 of the £185,000 convertible security issued as announced on 28 May 2014 (the "May Convertible"). Following the issuance of the shares in the conversion, the balances of the February Convertible and May Convertible will be £209,900 and £0 respectively.

Under the convertible securities issuance deed announced on 11 February 2014 ("the Deed"), 80,000,000 Ordinary Shares ("New Ordinary Shares") have therefore been issued by the Company at a conversion price of 0.117p. Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place on 12 January 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 856,763,514 Ordinary Shares with voting rights. The Company does not hold any shares in Treasury. This figure of 856,763,514 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:

TXO PLC
Tim Baldwin, Chairman                              [phone]

Northland Capital Partners Limited         [phone]
John Howes / Alice Lane
Sales and Broking

Edward Hutton / William Vandyk
Nominated Adviser

Lothbury Financial Services Limited       [phone]
Michael Padley / Chris Roberts