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Level 10, 110 Mary Street, Brisbane QLD 4000

PO Box 7122, Brisbane QLD 4001

ABN 55 082 541 437 (ASX: CKA)

www.cokal.com.au

ASX ANNOUNCEMENT/ MEDIA RELEASE 16 January 2017 Recent Share Volume

Cokal Limited (Company) has investigated the recent higher than normal volume of trades in the Company's shares. We have been advised by the liquidator of the Platinum Partners Value Arbitrage Fund, LP (PPVA) that prior to the liquidator's appointment PPVA had placed 27,403,939 CKA shares as security for a credit facility with a Primebroker/Bank. That Primebroker, contrary to the liquidator's wishes, is selling these shares under its security to repay the outstanding facility. After examining the Company's share register movements over the past 4 weeks it appears that between 9 and 10 million of these shares held as security have already been sold.

The Company has only just confirmed this information and in the absence of any advice from the shareholder has released this announcement to keep the market fully informed.

Representatives of the PPVA liquidator have now met with their legal counsel based in Singapore to discuss the debt conversion and continue to indicate to the Company that they are supportive of the agreed arrangements.

ENDS

16 January 2017 Page 1 of 1

Cokal Limited published this content on 16 January 2017 and is solely responsible for the information contained herein.
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