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DLV - Dorbyl Limited - Dorbyl Judgement Received

Release Date: 29/07/2011 15:11
Code(s): DLV
Wrap Text

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 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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