VALENCE INDUSTRIES LIMITED (VXL)

name changed to Quantum Graphite Limited

The Board and the Deed Administrator continue to progress the satisfaction of the various conditions contained in the DOCA. Upon completion and the approval by ASIC and ASX of the notice of extraordinary shareholders' meeting, the creditors' deed of trust shall be executed. Shareholders will be invited to consider and vote on the recapitalisation of Quantum Graphite at an extraordinary shareholders' meeting.

On 17 November 2016, the company executed an interlocking DOCA with Chimaera Capital Limited.

Under listing rule 17.6, any entity (if not already suspended) that had not paid its annual listing fees by close of business on Monday 22 August 2016 will have its securities suspended from official quotation before the commencement of trading on Tuesday 23 August 2016. The company has not paid its annual listing fees in respect of the year ending 30 June 2017 but the securities are already suspended from official quotation.

The group will continue on in caretaker mode whilst the administrators undertake a comprehensive and thorough review to identify the steps that can and should be taken, with a review to restructure. The first meeting of creditors is scheduled for 27 July 2016.

Valence Industries Limited (the Company) (ASX: VXL, VXLO) advises that it has voluntarily appointed Laurie Fitzgerald and Michael Humphris of William Buck as Administrators of Valence Industries Limited (VXL), Valence Industries Operations Pty Ltd (VIO) and Valence Industries Services Pty Ltd (VIS) under section 436A of the Corporations Act 2001 (Cth) as of today 15 July 2016.

The company has in total 73,402,418 Listed Options due to expire on 31 July 2016. The Company has recently applied to the ASX seeking a waiver from Listing Rule 6.24 to the extent necessary to allow the Company not to mail out an option expiry notice to the holders of these listed options. The ASX has granted the waiver subject to the Company providing several disclosure conditions.As a result of the ASX granting Valence Industries Limited a waiver from the requirements of Listing Rule 6.24, the Company will NOT be sending out option exercise notices in regard to the 31 July 2016 Listed Options (VXLO) which expire on Sunday, 31 July 2016.

The company lodges its March 2016 Quarterly Activities Report and Appendix 5B.

Since suspending operations at Uley, the new Managing Director and CEO, Robert Mencel has taken steps to minimise cash outgoings by further reducing operating and head office costs. The Company has retained a limited number of key staff to continue planning for the necessary work to address the processing and bottleneck issues at the Uley processing plant. With regard to financing, the Company has continued to actively investigate a number of potential corporate transactions, possible offers for the company and both debt and equity capital raising options, however none of these have yet progressed to a conclusion. The Board has determined the best way forward is an equity issue in the form of a conditional rights issue to raise up to $18 million.

The company lodges its quarterly activities report.

Valence Industries Limited (ASX: VXL & VXLO) ("Valence" or "the Company") advises that, 32,816,642 fully paid ordinary shares and 19,750,000 options exercisable at 25 cents by 31 July 2016, currently subject to restriction agreements will be released from restriction on Thursday 7 January 2016

Valence Industries Limited (the "˜Company' or "˜Valence Industries') advises that it will suspend processing activities at its Uley Graphite site near Port Lincoln, South Australia. The Company's shares will remain in suspension until the capital raising process is concluded, estimated to be early 2016. Negotiations with financiers will be jeopardised if the Company comes out of voluntary suspension prior to this time.

The company releases the results of the 2015 AGM.

The company releases the managing director's address.

The company issues the Chairman's Address to the Annual General Meeting of Valence Industries.

Valence Industries Limited (ASX:VXL and VXLO) advises its securities remain in voluntary suspension as the company requires more time to finalise capital raising.

The securities of Valence Industries Ltd (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement regarding a proposed capital raising. Security Code: VXL

The suspension of trading in the securities of Valence Industries Limited (the "Company") will be lifted immediately, following receipt of an announcement in relation to finalisation of the Company's finance facilities and a capital raising. Security Code: VXL VXLO

The securities of Valence Industries Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement regarding finalisation of its finance facilities and a capital raising. Security Code: VXL VXLO

listed entity carried for record purposes only