DLV
DLV
DLV - Dorbyl Limited - Dorbyl Judgement Received
DORBYL LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1911/001510/06)
(Share Code: DLV ISIN: ZAE000002184)
("Dorbyl" or "the Company")
DORBYL JUDGEMENT RECEIVED
Shareholders are referred to prior disclosure in the annual reports of Dorbyl
regarding legal proceedings instituted by Dorbyl against a former director as a
result of certain undisclosed gains made by the said director emanating from the
non-disclosure of his interest in various prior business disposals by Dorbyl.
Shareholders are advised that the matter was heard in the high court in February
2011 and that judgement was handed down on 28 July 2011, in which Dorbyl was
successful in its claims which in aggregate amount to R41,7m plus interest and
costs ("the Judgement"). The interest and costs awarded will be quantified in
due course. It should however be noted that the Judgement could, but is not
likely to be appealed.
Shareholders will be informed of further developments in regard to the above.
Shareholders are furthermore referred to the contingent liability note in the
2010 annual financial statements for Dorbyl in which the Company referred to
certain claims made by the former director against Dorbyl. In terms of the
Judgement, the former Director`s claims were dismissed.
Johannesburg
29 July 2011
Sponsor: PSG Capital (Proprietary) Limited
Date: 29/07/2011 15:11:33 Produced by the JSE SENS Department.
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