Investor Overview

We began developing components of the Diligent Boardbooks system starting in 1998. In 2001, SunAmerica Funds requested a solution to automate the management of its board meeting papers. With this request, the founders of the Company launched the Diligent Boardbooks concept and produced and tested a working concept that was delivered to SunAmerica Funds.

By 2002, the founders of the Company believed the end product could become an extremely valuable licensing opportunity. With SunAmerica Funds as one of our anchor clients, the Company spent a year selling Boardbooks licences to other major accounts in a market that had yet to deal with the implications of the Sarbanes-Oxley Act.

Starting in 2006, after fully developing the capabilities of our product with our anchor clients, we began establishing our own credentials. Our marketing group produced promotional marketing materials featuring our anchor clients which described the Boardbooks product and explained its benefits for boards of directors. For the next two years, before undertaking an international rollout of a large licensing sales force, we tested several key growth assumptions relating to scaling the Diligent Boardbooks product.

On December 12, 2007, we completed a public share offering of 24,000,000 shares of our common stock in conjunction with a listing of our stock on the New Zealand Stock Exchange under the symbol "DIL". As a result, the Company is subject to the regulation and reporting requirements imposed by the New Zealand Stock Exchange. There is no United States established public trading market for our common stock.

However, because the Company is a U.S. company incorporated in Delaware with over 500 shareholders, it is also subject to the U.S. reporting and regulatory requirements of the Securities and Exchange Commission ("SEC") and the Securities Exchange Act of 1934. Because of this dual regulation in New Zealand and the U.S., the Company is required to meet both standards, which means the Company sometimes is faced with conflicting requirements and always must comply with the more stringent rule.

Reporting

Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), and reported in US dollars.

In order to comply with SEC regulations, Diligent is required to file quarterly financial reports on Form 10-Q and file annual reports on Form 10-K to the United States SEC. These financial statements provide more information and an expansive management discussion that provides additional insight for the reader and to higher standards than is required from NZ regulators. The SEC reports are filed simultaneously in both the US and NZ.

In addition to the above regulatory reporting, Diligent provides a Quarterly Market Update (within 15 days after each quarter), that is focused on sales progress and current trading conditions.

Annual General Meeting

Diligent holds its Annual General Meeting in New Zealand during the 2nd quarter of each year.