Diligent note receivable paid in full by Service Share Holding
Cash payment plus interest paid ahead of the October deadline.
BUSINESSDESK: Software company Diligent Board Member Services has received a cash payment plus interest for its $US3.2 million note receivable from Services Share Holding, ahead of the October deadline.
The payment 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 says.
"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%.
Diligent shares last traded at $3.70 and have gained 94% so far this year.
Hannah Lynch
Wed, 11 Jul 2018
Wed, 11 Jul 2018
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Diligent note receivable paid in full by Service Share Holding
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