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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1433269	Diligent Board Member Services Inc.	DIL.NZ	Services-Prepackaged Software (7372)	261189601

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1459096	Spring Street Partners, Inc.	488 Madison Avenue 21St Floor New York NY 10022		No	No	No	Yes

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2011-01-01	5,507,403	$0.00	0	No	4	S	Indirect	Through Spring Street Partners, LP

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	Through Spring Street Partners, LP

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Preferred Stock	Disposition	2011-01-01	21,777,904	$0.00	21,777,904	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0			No	4	S	Indirect

Footnotes

The reported securities are held by Spring Street Partners, LP, of which the reporting person was previously the sole general partner. On January 1, 2011, the reporting person transferred its entire general partnership interest in Spring Street Partners, LP to West Broadway Advisors, L.L.C., an entity 100% owned by the same person who owned the reporting person. Accordingly, there was only nominal consideration for the transfer. The reporting person had historically disclaimed and continued through the date of transfer to disclaim beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
The Series A Preferred Stock is convertible at any time on a one for one basis and has no expiration date.
Amount includes 1,777,904 shares of Series A Preferred Stock received by Spring Street Partners, LP on January 4, 2010 in lieu of a cash dividend in accordance with the issuer's Certificate of Designations. Spring Street Partners, LP did not have the choice of receiving cash in lieu of the PIK dividend. The receipt of such dividend shares is an exempt transaction for all purposes of Section 16 pursuant to Rule 16a-9.