| Thu 1 Oct 2009, 16:00 | | DLV - Dorbyl - Results of General Meeting Update On Proposed Disposal |
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DLV
DLV
DLV - Dorbyl - Results of General Meeting, Update On Proposed Disposal
And Further Cautionary Announcement
DORBYL LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 1911/001510/06
Share Code: DLV & ISIN: ZAE000002184
("Dorbyl" or "the Company")
RESULTS OF GENERAL MEETING, UPDATE ON PROPOSED DISPOSAL AND FURTHER
CAUTIONARY ANNOUNCEMENT
Results of general meeting
Shareholders are referred to the Dorbyl circular dated 15 September 2009
("the circular") detailing the disposal by Dorbyl of the properties
situated in Uitenhage and Struandale (Port Elizabeth) respectively, to
Slip Knot Investments 777 (Proprietary) Limited for a total cash
consideration of R65 million ("the Transaction").
At a general meeting of shareholders of Dorbyl held on Thursday, 1
October 2009, all the resolutions relating to the Transaction were
passed unanimously by the shareholders present and voting, in person or
by proxy, at the general meeting, resulting in the Transaction becoming
unconditional.
Update on proposed disposal and further cautionary announcement
Pursuant to the announcement released on the Securities Exchange News
Service (SENS) and published in the press on 2 September 2009 and 3
September 2009 respectively, containing details of the proposed disposal
by Guestro Steering Gears (Proprietary) Limited, a wholly owned
subsidiary of Dorbyl, of the assets and liabilities of its operation
referred to as Guestro Forging and Machining, to Specialised Precision
Investments (Proprietary) Limited ("the purchaser"), shareholders are
advised that the purchaser is still in the process of securing the
necessary finance to discharge its obligations in terms of the disposal
consideration, which, if successful, 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. Further announcements in this
regard will be made in due course.
Johannesburg
1 October 2009
Sponsor
PSG Capital (Proprietary) Limited
Date: 01/10/2009 16:00:01 Produced by the JSE SENS Department.
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