| Wed 18 Feb 2009, 17:30 | | DLV - Dorbyl - Korsten Property Disposal Of No Force And Effect And Renewal Of |
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DLV
DLV
DLV - Dorbyl - Korsten Property Disposal Of No Force And Effect And Renewal Of
Cautionary Announcement
DORBYL LIMITED
(Incorporated in the Republic of SA)
(Registration Number 1911/001510/06)
(Share Code: DLV ISIN: ZAE 000002184)
("Dorbyl" or "the Company")
KORSTEN PROPERTY DISPOSAL OF NO FORCE AND EFFECT AND RENEWAL OF CAUTIONARY
ANNOUNCEMENT
The property disposal transaction
In an announcement dated 17 December 2008, shareholders were advised that Dorbyl
had entered into an agreement in terms of which, subject to the fulfilment of a
number of conditions precedent, Dorbyl would dispose of the property situated at
20 Bennet Street, Neave Township, Port Elizabeth, being Erf 4228 and 6848 for
R36 million to Store-World (Pty) Limited ("the purchaser") ("the Korsten
property disposal").
Shareholders are advised that, due to the non-fulfilment of certain conditions
precedent by the purchaser, the agreement relating to the Korsten property
disposal is of no further force and effect and the Korsten property disposal
will not be implemented. As a result, no circular to shareholders setting out
the terms of the Korsten property disposal will be posted to Dorbyl
shareholders.
Renewal of cautionary announcement
Further to the cautionary announcements last year and last renewed on 21 January
2009, shareholders are advised that negotiations are still in progress which, if
successfully concluded, may have a material effect on Dorbyl`s share price.
Shareholders are accordingly advised to continue exercising caution when dealing
in their shares in the Company.
Johannesburg
18 February 2009
Sponsor
PSG Capital (Pty) Limited
Date: 18/02/2009 17:30:02 Produced by the JSE SENS Department.
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