DLV - Dorbyl Limited - Changes to the composition of the board, committees and

DLV - Dorbyl Limited - Changes to the composition of the board, committees and  
directors fees                                                                  
DORBYL LIMITED                                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration Number:  1911/001510/06)                                          
(Share Code:  DLV    ISIN:  ZAE000002184)                                       
("Dorbyl" or "the Company")                                                     
CHANGES TO THE COMPOSITION OF THE BOARD, COMMITTEES AND DIRECTORS FEES          
In compliance with section 3.59 of the JSE Listings Requirements,               
shareholders are hereby informed of the following changes to the Board          
of directors ("the Board") and composition of the Committees of Dorbyl ("the    
Committees"):                                                                   
The Board                                                                       
The retirement of the Chairman, Mr JB Magwaza, with effect from the close of    
business on 13 April 2012. Mr R Rohrs, the current Chief Executive Officer has  
been appointed as Chairman to replace Mr J Magwaza, with Mrs TA Morkel as the   
Lead Independent Non-Executive director. Mr R Rohrs will continue with his role 
as Chief Executive Officer in an acting capacity. It is expected that a full    
time Chief Executive Officer will be appointed at the end of September 2012.    
Company Secretary                                                               
Mr BD Bhikha has resigned as the Company Secretary, effective from the close of 
business on 13 April 2012. Mrs Penny Wentzel has been appointed as Company      
Secretary with effect from 16 April 2012.                                       
The Committees                                                                  
Mr J Badenhorst has been appointed as member of the Audit and Risk Committee,   
with effect from 13 April 2012.                                                 
Mr J Badenhorst and Mrs TA Morkel have been appointed as Chairman and member    
respectively to the Remuneration and Nominations Committee, following the       
retirement of Messrs JB Magwaza and PM Bester.                                  
Directors Fees                                                                  
The following reductions were made to the Directors Fees, which were previously 
approved at the Shareholders` meeting held on 21 November 2011:                 
-    The fees for the Chairman of the Board has been reduced from R320 000 per  
    annum to R100 000 per annum;                                                
-    The newly appointed Chairman, Mr R Rohrs, will continue to receive his     
current remuneration till the end of September 2012. Thereafter this will   
    be replaced with the revised R100 000 per annum, payable quarterly; and     
-    The fees for the Chairman of the Audit and Risk Committee has been reduced 
    from R80 000 per annum to R60 000 per annum.                                
Johannesburg                                                                    
19 April 2012                                                                   
Sponsor:  PSG Capital Proprietary Limited                                       
Date: 19/04/2012 16:01:01 Supplied by www.sharenet.co.za                     
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