On December 12, 2007, our common stock was listed on the New Zealand Stock Exchange (NZX) under the symbol DIL.
As a result, the company is subject to the regulation and reporting requirements imposed by the New Zealand Stock Exchange. While we are not listed on a US stock exchange, shares of our common stock trade in the over-the-counter market under the symbol DLBDF. However, because the company is a US company incorporated in Delaware with over 500 shareholders, it is also subject to the US 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 US, the company is required to meet both standards, which means the company sometimes is faced with conflicting requirements and usually must comply with the more stringent rule.
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 with the United States SEC. These financial statements provide more information and an expansive management discussion that provides additional insight for the reader. The SEC reports are filed simultaneously in both the US and NZ.
We also file half-year and annual reports with NZX.
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.