DLV - Dorbyl - Legal proceedings against a Former Director - appeal to Supreme

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 Supplied by www.sharenet.co.za                     
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