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DLV
DLV
DLV - Dorbyl Limited - Further Trading Statement
DORBYL LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 1911/001510/06
Share Code: DLV ISIN: ZAE000002184
("Dorbyl" or "the Company")
FURTHER TRADING STATEMENT
In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE
Limited, companies are required to inform shareholders as soon as there is a
reasonable degree of certainty that the earnings of the company are likely to
vary by more than 20% compared to the previous corresponding period.
Further to the trading statement released on SENS on 12 April 2011, Dorbyl
hereby advises that a reasonable degree of certainty exists that the
comprehensive loss per share attributable to ordinary shareholders for the
year ended 31 March 2011 is expected to be between 15 and 28 cents per share,
compared to the comprehensive loss per share of 294 for the previous
corresponding period. Guestro Castings and the Benoni property are no longer
accounted for as being held for sale. In respect of the Benoni property, the
carrying value has been increased to reflect the fair market value, net of
certain rehabilitation costs still to be incurred. This resulted in a direct
increase in reserves, thereby not having an effect on the basic or headline
loss per share.
The net asset value per share at 31 March 2011 is expected to be between 308
and 321 cents per share, compared to the net asset value per share of 487
cents per share for the previous corresponding period. It should be noted
that during the year under review, a special dividend of 150 cents was paid.
The headline loss per share attributable to ordinary shareholders for the year
ended 31 March 2011 is expected to be between 73 and 93 cents per share,
compared to the headline loss per share of 220.7 cents for the previous
corresponding period.
The basic loss per share attributable to ordinary shareholders for the year
ended 31 March 2011 is expected to be between 70 and 90 cents per share,
compared to the basic loss per share of 279.6 cents for the previous
corresponding period.
The information in this trading statement has neither been reviewed nor
reported on by the Company`s external auditors.
Johannesburg
3 June 2011
Sponsor: PSG Capital (Proprietary) Limited
Date: 03/06/2011 16:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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