DLV - Dorbyl - Legal proceedings against a Former Director - appeal to Supreme
DLV
DLV
DLV - Dorbyl - Legal proceedings against a Former Director - appeal to Supreme
Court of Appeal
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 TO SUPREME COURT OF APPEAL
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 judgment was handed down on 28
July 2011, in which Dorbyl was successful in its claims which in aggregate
amounted to R41,7m plus interest and costs ("the Judgment").
Shareholders are also referred to the SENS announcement dated 2 December 2011,
advising that the application for leave to appeal was heard on 30 November 2011
and that the application was dismissed with costs. Pursuant to the dismissal,
Counsel for the defendant petitioned the Chief Justice for leave to appeal to
the Supreme Court of Appeal.
Shareholders are hereby informed that the leave to appeal to the Supreme Court
of Appeal was dismissed on 21 May 2012. Dorbyl will now through its legal
advisors follow due process.
Shareholders will be informed of further developments in regard to the above.
Johannesburg
22 May 2012
Sponsor: PSG Capital Proprietary Limited
Date: 22/05/2012 16:30:04 Produced by the JSE SENS Department.
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