Diversinet Announces Update to Sale of its Business and Proposed Liquidation

About this update from Diversified Royalty Corp.

[{"type":"text","content":"\n\n\nTORONTO, Sept. 13, 2013 /CNW/ - Diversinet Corp. (OTCQB: DVNTF), announced today that it has completed the sale of its\n business pursuant to an asset purchase agreement (\"Agreement\") with\n certain subsidiaries of IMS Health Incorporated (\"IMS Health\").\n\n\nUnder the Agreement, IMS Health has purchased substantially all of the\n intellectual property, software, customer contracts and certain other\n assets of Diversinet for $3,500,000.  An amount equal to one-half of\n the sale proceeds has been deposited with an independent escrow agent\n to be available to satisfy indemnity claims by IMS Health, if any, made\n prior to the proposed winding-up described below. Certain employees of\n Diversinet have accepted employment by IMS Health.  On September 11,\n 2013, at the annual and special meeting of shareholders (\"AGM\"),\n Diversinet shareholders approved the sale transaction.\n\n\nFurthermore, at the AGM, Diversinet shareholders approved a Plan of\n Liquidation and Distribution to take all necessary steps to effect the\n voluntary winding up of the Company pursuant to the Business Corporations Act (Ontario).  This involves the appointment of a liquidator, Duff &\n Phelps Canada Restructuring Inc, effective on or about September 16,\n 2013 to discontinue the business of the Company and to satisfy all\n claims and obligations and to distribute to shareholders, on a pro rata\n basis, the remaining funds and assets of the Company. To the extent\n permitted by the OTCQB, the liquidator intends to have the common\n shares cease trading approximately 30 days after appointment.\n\n\nA one time distribution to shareholders is not expected before early\n 2014.  While there is no guarantee as to the amount of the shareholder\n distribution, Diversinet currently expects to distribute a per share\n amount in the range of $0.05 to $0.065 based on recent estimates of\n anticipated claims and obligations to be settled.\n\n\nAbout Diversinet\nDiversinet Corp. (OTCQB: DVNTF) provided healthcare organizations and\n partners with ultra-secure, patented mobile technologies and connected\n health solutions. The company's core publishing platform supports rapid\n deployment of secure and HIPAA-compliant Web-to-mobile applications.\n Diversinet solutions lead with an innovative, virtual health wallet\n designed for pa...

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