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DLV
DLV
DLV - Dorbyl Limited - Disposal by Dorbyl of the properties situated in
Struandale and Uitenhage: Correction of the pro forma information
DORBYL LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1911/001510/06)
(Share Code: DLV ISIN: ZAE000002184)
("Dorbyl" or "the Company" or "the Group")
DISPOSAL BY DORBYL OF THE PROPERTIES SITUATED IN STRUANDALE AND UITENHAGE:
CORRECTION OF THE PRO FORMA INFORMATION
1. THE DISPOSALS ANNOUNCEMENT
Shareholders are referred to the announcement released on SENS and
published in the press on 14 August 2009 and 17 August 2009 respectively.
Subsequent to that announcement it has been noted that the pro forma
Headline Loss per share disclosed as 143.9 cents was incorrect and that the
correct figure should have been reflected as 305.2 cents per share. The
error was as a result of incorrectly accounting for the profit on the
disposal of the properties in the computation of the Headline Loss per
share.
2. REVISED financial effects
The table below sets out the revised unaudited pro forma financial effect
of the disposals on the headline earnings per Dorbyl share.
Audited(1) Pro forma Change
Before After (%)
(cents) (cents)
Headline loss per share(2) (316.8) (305.2) 3.7
Notes:
1 Extracted from the published audited consolidated financial statements of
Dorbyl for the year ended 31 March 2009.
2 Adjustments to reflect the once-off effects of the disposals, namely:
disposal consideration of R65 million, book value of the fixed asset sold
of R75 million (inclusive of revaluation of R64.7 million) as at 31 March
2009, interest earned at an after-tax return of 7% totalling R4.6 million
for the financial year ended 31 March 2009 and transaction costs of R0.6
million.
(3) Calculation based on a weighted average of 33,924 million shares in issue
during the financial year ended 31 March 2009.
Johannesburg
24 August 2009
Sponsor: PSG Capital (Proprietary) Limited
Date: 24/08/2009 16:00:01 Produced by the JSE SENS Department.
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