DLV - Dorbyl Limited - Legal proceedings against a former director - appeal
DLV
DLV
DLV - Dorbyl Limited - Legal proceedings against a former director - appeal
hearing
DORBYL LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1911/001510/06)
(Share Code: DLV ISIN: ZAE000002184)
("Dorbyl" or "the Company")
LEGAL PROCEEDINGS AGAINST A FORMER DIRECTOR - APPEAL HEARING
Shareholders are referred to the SENS announcement dated 29 July 2011,
wherein shareholders were advised of the 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 were 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").
Shareholders are also referred to the 2011 Integrated Report where
shareholders were advised that the defendant had lodged an application for
leave to appeal the judgement.
Shareholders are hereby advised that the application for leave to appeal
was heard on 30 November 2011 and that the application was dismissed with
costs. Counsel for the defendant has indicated that they intend to petition
the Chief Justice for leave to appeal to the Supreme Court of Appeal.
Shareholders will be informed of further developments in regard to the
above.
Johannesburg
2 December 2011
Sponsor: PSG Capital (Proprietary) Limited
Date: 02/12/2011 16:00:01 Produced by the JSE SENS Department.
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