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- Release Date: 24/12/12 11:56
- Summary: GENERAL: DIL: Preferred Stock Dividend
- Price Sensitive: No
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DIL
24/12/2012 09:56
GENERAL
REL: 0956 HRS Diligent Board Member Services INC (NS)
GENERAL: DIL: Preferred Stock Dividend
Preferred Stock Dividend
24 December 2012
Diligent Board Member Services, Inc.'s (Diligent) Board of Directors has
declared a cash dividend of US$0.011 per share on its Series A Preferred
Stock, payable on January 2, 2013 (US time), which in the aggregate amounts
to a dividend of US$359,338 to the Series A Preferred Stock holders. This
dividend is payable pursuant to Diligent's Certificate of Incorporation.
Spring Street Partners LP, one of the holders of the Series A Preferred
Stock, has advised Diligent that it is waiving its right to the dividend
which amounts to US$239,557, and it directed the Company to retain those
funds. Mr. David Liptak, the President of Spring Street and the Chairman of
Diligent's Board of Directors, commented, "In recognition of our appreciation
for the excellent performance of the stock over the last year, Spring Street
Partners has elected to waive its right to this dividend payment and thereby
reward the Company for its performance and enable the Company to reward
employees with cash bonuses. We are strongly committed to Diligent and will
continue to support it as the leading provider of board portal software
worldwide."
The Board of Directors of Diligent and Mr. Sodi, its CEO, thanked Spring
Street Partners for its generosity and continued support and investment.
End CA:00231621 For:DIL Type:GENERAL Time:2012-12-24 09:56:19
