POLARX LIMITED — Merger & Acquisition 2012

Dec 19, 2012

1490 – 1075 West Georgia Street Vancouver, BC V6E 3C9 Canada

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Tel: 604 688 9478 Fax: 604 688 9458

19 December 2012

ASX Level 8 2 The Esplanade PERTH WA 6000

Timetable for implementation of Scheme of Arrangement with Coventry Resources Limited

The table below is the expected timetable for allotment and trading of securities to be issued under the Scheme.

Second Court Date for approval of the Scheme(s)subject to satisfaction to ASX Condition Precedent	19 December 2012
Effective Date of the Scheme(s) and last day of tradingof CoventryShares on the ASX	20 December 2012
Suspension of trading of Coventry Shares on the ASXfrom close of trade	20 December 2012
Crescent CDIs to begin trading on the ASX on adeferred settlement basis6	21 December 2012
Record Date for determining entitlements to theScheme Consideration	4.00 pm on 31 December 2012
Implementation Date for the transfer of CoventryShares and Coventry Options to Crescent and issue ofScheme Consideration	8 January 2013
Despatch of holding statements for Crescent CDIs andcertificates7for Crescent Consideration Shares	8 January 2013
Crescent Consideration Shares issued to SchemeShareholders commence tradingon TSX-V	9 January 2013
Termination of official quotation of Coventry on theASX	9 January 2013
Crescent CDIs begin trading on the ASX on a normalsettlement basis	9 January 2013