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Diligent says it won’t meet deadline to file annual report

Diligent says it won’t meet March 31 deadline to file annual report

March 19 (BusinessDesk) - Diligent Board Member Services, which was forced to restate several years of wrongly booked revenue last month, said it won’t meet a March 31 deadline to file its annual report.

The governance app software developer said it expects to deliver its report for calendar 2013 by April 30. Provided it meets that deadline, the NZX has indicated it won’t take any action, the New York-based, NZX listed company said in a statement.

Diligent hired Deloitte & Touche to audit its restated financial statements for 2010, 2011 and 2012 and to audit its 2013 statements. While that allowed the company to report its preliminary full-year results on Feb. 28, Deloitte “still needs to complete both the audit of those financial statements and the audit of the restated financial statements for prior years.”

Diligent confirms that it has disclosed to the market all material information required to be released under its continuous disclosure requirements, it said.

The company’s shares fell 1.1 percent to $4.40.


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