ARIKA RESOURCES LIMITED — Capital/Financing Update 2012

Feb 7, 2012

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Suite 6, 245 Churchill Ave. Subiaco WA 6008 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006 ACN 086 839 992

www.pldcorporation.com.au

7 February 2012 ASX Code: PLD

Shareholder Update

Dear Shareholders,

The directors of PLD Corporation Limited ( PLD or the Company ) are pleased to announce that the recapitalisation of the Company has been completed.

A Deed of Company Arrangement has been effectuated on 23 November 2011 and the Company was contemporaneously released from external administration and is now debt free. The Company subsequently raised $2,001,500 via the issue of new equity in the Company and its securities will be reinstated to trading on the ASX shortly.

Your new Directors, Messrs Hugh Warner, Jonathan Pager and Michael Pollak, are the proponents of Pager Partners, who’s proposal to recapitalise the Company (the Proposal ) was approved by the Company's creditors and subsequently approved by the Company's shareholders at a General Meeting of Shareholders held on 23 November 2011. Mr Neil Hackett has also been appointed Company Secretary.

The capital structure of the Company following the completion of the Proposal is summarised below:

Capital Structure	Shares	Unlisted Options
Completion of all the Resolutions	314,297,641	61,834,852

After the payment of $630,000 for the benefit of the PLD creditors and the costs of the Proposal, the Company will have cash funds of approximately $1,200,000 for product development and working capital.

The Company intends to continue with its core business as a designer and developer of a range of differentiated and innovative joint replacement products, leveraging the Company’s know how.

In particular, it is proposed to investigate making design improvements and refining the existing Margron technology developed by previous management. This may involve the entry into joint ventures and licensing arrangements as the Company seeks to generate income from a relatively low cost base.

Alternative product development involving the lodgement of new patent applications to protect any new developments will also be considered.

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Suite 6, 245 Churchill Ave. Subiaco WA 6008 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006 ACN 086 839 992

www.pldcorporation.com.au

In addition to the above, the new Board will actively review new transactions that may or may not be in the same sector, with the objective of creating Shareholder value. A number of opportunities are currently being presented to the Board.

In pursuing new opportunities, the Company may be required by the ASX to recomply with Chapters 1 and 2 of the ASX Listing Rules. This will depend on the transaction, which may also require Shareholder approval.

Finally, we look forward to putting the problems of the Company’s past behind us, and working with all shareholders towards rebuilding shareholder value.

Yours faithfully,

PLD Corporation Limited

Hugh Warner Chairman

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