COKAL LIMITED — Major Shareholding Notification 2014

Mar 31, 2014

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To_ Company Name/Scheme	Cokal Limited
ACN/ARSN	082 541 437
1. Details of substantial holder(1)
Name	Platinum Partners Value Arbitrage Fund LP and Platinum Partners Liquid Opportunity Fund LP and their associates
ACN/ARSN (if applicable)	not applicable
There was a change in the interests of the substantial holder on	14/03/14
The previous notice was given to the company on	29,01,14
The previous notice was dated	29 /01/14
2. Previous and present voting power

The total number or votes attached to air the voting shares in the company or voting interests in the scrieme that the

in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary Shares	62,524,270	%13.27	67.224.810	%14.27

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the
substantial holder was last required to give

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
30-Jan-2014 to 14 March 2014	Platinum Partners Value Arbitrage Fund LP	BUY	\$733.012.80	ordinary 3.760.432	3.760.432
30-Jan-2014 to 14 March 2014	Platinum Partners Liquid Opportunity Fund LP	BUY	\$183,253.20	ordinary 940.108	940.108

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

	Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
	Platinum Partners Value	Platinum Partners Value Arbitrage Fund LP			53.962.248	53.962.248
Opportunity Fund LP	Arbitrage Fund LP Platinum Partners Liquid	Platinum Partners Liquid Opportunity Fund LP.			13,490,562	13.490.562

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

------- ______ Name and ACN/ARSN (if applicable) ______	--------------------------------------- ------- _ Nature of association ---------- ______ -------- ---- ______
_________	------- $-200$ m $-200$ m $-2$ ______ __

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Platinum Partners Value Arbitrage Fund LP	152 West 57th Street, 4th Floor, New York, NY 10019 United States of America
Platinum Partners Liquid Opportunity Fund LP	152 West 57th Street, 4th Floor, New York, NY 10019 United States of America

Signature

print name	Mark Wise	Portfolio Manager capacity
sign here	⋖ .N ∼	date $7/31/14$ .

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an $(1)$ equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any $(a)$ document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to $(b)$ which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, becom'e $(7)$ entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $(8)$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$