Bloomberg News

Dorbyl Surges Most Since January 2010 on Successful Court Bid

July 29, 2011

July 29 (Bloomberg) -- Dorbyl Ltd. surged the most in 18 months after the South African mechanical-engineering company said it was successful in a high court claim against a former director regarding undisclosed gains by the director.

The stock rallied 20 percent, the biggest intraday gain since January 2010, to 2.95 rand by 3:25 p.m. in Johannesburg.

The judgment is unlikely to be appealed, the company said in a regulatory filing today.

To contact the editor responsible for this story: Ana Monteiro at amonteiro4@bloomberg.net


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