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 £70,000 of the £425,000 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 £139,900.

Under the convertible securities issuance deed announced on 11 February 2014 ("the Deed"), 70,000,000 Ordinary Shares therefore fall to be issued at a conversion price of 0.1p ("Conversion Shares"). Under the Deed, an additional 3,375,263 Ordinary Shares are being issued by way of a fee ("Fee Shares"). As a result, 73,375,263 Ordinary 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 29 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 962,638,777 Ordinary Shares with voting rights. The Company does not hold any shares in treasury. This figure of 962,638,777 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