DORBYL LIMITED - Fourth quarterly update regarding the suspension of Dorbyl

Fourth quarterly update regarding the suspension of Dorbyl

Dorbyl Limited
(Incorporated in the Republic of South Africa)
Registration Number: 1911/001510/06
Share Code: DLV ISIN: ZAE000002184
("Company" or "Dorbyl")

FOURTH QUARTERLY UPDATE REGARDING THE SUSPENSION OF DORBYL

Shareholders are referred to the announcements on SENS on:

  -   1 November 2012 in which shareholders were advised that the
      listing   of  Dorbyl’s   securities   have  been  suspended
      following the Company’s failure to comply with JSE
      Limited’s (“JSE”) Listings Requirements (“the Listings
      Requirements”) by not submitting its annual financial
      statements timeously (“the Suspension”);

  -   5 April 2013, 9 July 2013 and 18 November 2013, in which
      shareholders were provided with a first, second and third
      quarterly update, respectively, regarding the suspension
      (“the Quarterly Updates”); and

  -   24 June 2013 in which shareholders were advised of the
      posting of a notice in terms of section 60 of the Companies
      Act, 2008, as amended, containing an ordinary resolution
      proposed by the board of directors of Dorbyl (“the Board”).

The abbreviated terms applied in the previous Quarterly Updates,
apply equally in this fourth quarterly update which relates to
the fourth quarter of 2013 i.e. October to December 2013.

Further to the above, shareholders are advised that the Company
is still engaged in the process of pursuing the Recapitalisation
which is required to simultaneously address the Adverse Audit
Opinion and the lifting of the Suspension.

As discussions are ongoing, shareholders will be kept duly
informed of any further developments insofar as the lifting of
the Suspension is concerned.


Johannesburg
14 January 2014

Sponsor to Dorbyl:   PSG Capital Proprietary Limited

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