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Diligent Preferred Stock Dividend


Diligent 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.


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