QUANTUM GRAPHITE LIMITED — Director's Dealing 2014

May 29, 2014

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Valence Industries Limited
ABN	41 008 101 979

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Graham GeorgeSPURLING
Date of last notice	7 January 2014

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Note: In the case of a company, interests which be disclosed in this part.	Note: In the case of a company, interests which be disclosed in this part.	come within paragraph (i) of the definition of “notifiable interest of a director” should	come within paragraph (i) of the definition of “notifiable interest of a director” should	come within paragraph (i) of the definition of “notifiable interest of a director” should
	Direct or indirect interest		Indirect
	Nature of indirect interest		Mr Graham George Spurling & Mrs Marg	aret d is
	(including registered holder) Note: Provide details of the circumstances gi interest.	ving rise to the relevant	Mary Spurling as trustees for The Fairfiel Superannuation Fund. Mr Spurling and h spouse are trustees of the trust and Mr
			Spurling is a beneficiary of the trust.
	Date of change		30 May 2014
	No. of securities held prior to chan	ge	150,000 Shares. 150,000 Listed Options.
			500,000 Unlisted Options (unvested).
	Class		1. Shares - fully paid ordinary share
			2. Listed Options - with an exe price of $0.25 and expiry of 31
			2016. 3. Unlisted Options - with an exe price of $0.25 and expiry of 31 2016 with vesting subject to va
			performance hurdles. All un options are restricted to 6 Ja

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	Nil
Number disposed	150,000 Unlisted Options
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	150,000 Shares. 150,000 Listed Options. 350,000 Unlisted Options (unvested).
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Lapse of Unlisted Options – vesting condition not met.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

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Detail of contract Not Applicable
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change
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• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?
If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3