Sharechat Logo

Diligent note receivable paid in full by Service Share Holding

Tuesday 28th August 2012

Text too small?

Software company Diligent Board Member Services has received a cash payment plus interest for its US$3.2 million note receivable from Services Share Holding, ahead of the October deadline.

The payment from Services Share Holding satisfies all the conditions of the note under the October 2007 Promissory Note and Security Agreement. Diligent will release the remaining shares pledged as security of the note to shareholders.

"We are delighted to accept full payment and retire the Note in full ahead of the October deadline," chairman, David Liptak said in a statement. "There has been significant value accrued to the company and its shareholders over the course of the repayment of the Note, and we are very pleased with the end result."

The note had a principal balance of $US3.1 million and bore interest of 6.5 percent.

Diligent shares last traded at $3.70 and have gained 94 percent so far this year.

BusinessDesk.co.nz

Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Diligent censured, fined for numerous listing rules breaches
Diligent misses filing date for first-half earnings, shares drop to 9-month low
Diligent to restate revenue from past three years, says US sales slow in 2Q
NZX queries Diligent price fall since announcing revenue recognition problems
Diligent says no dividend this year, mulls US listing
Diligent makes mistake recognising revenue in accounts before it should have
Diligent CEO Sodi may get extra US$6.7 mln in tax-efficient bonus scheme
Diligent sees growing importance in European sales
Diligent boosts 1Q sales 84 percent amid strong growth outside US
Diligent directors come up with new CEO incentive scheme