SOURCE: TigerLogic Corporation

TigerLogic Corporation

April 15, 2016 09:30 ET

TigerLogic Corporation Announces Special Dividend

PORTLAND, OR--(Marketwired - April 15, 2016) - TigerLogic Corporation (OTCQX: TIGR) today announced its Board of Directors declared a special dividend of $0.13 per share payable on May 17, 2016 to shareholders of record at the close of business on April 27, 2016. The total amount of the special dividend payment will be approximately $4.0 million based on the current number of shares outstanding.

As previously announced, TigerLogic closed the sale of its Postano business on March 31, 2016 and is pursuing the sale of its Omnis rapid application development software business. TigerLogic plans to file a certificate of dissolution with the Secretary of State for the State of Delaware as soon as possible following completion of the sale of the Omnis business, and thereafter to wind up its business and liquidate its remaining assets to stockholders. There can be no guarantee that TigerLogic will be able to complete the sale of the Omnis business on reasonable terms, or at all, and no specific timeframe for the completion of the actions described herein has been established.

About TigerLogic Corporation
TigerLogic Corporation (OTCQX: TIGR) is a global provider of the Omnis rapid application development platform. For more information about TigerLogic and its products visit http://www.tigerlogic.com.

The foregoing release contains forward-looking statements about the TigerLogic's current plans and expectations, including plans and expectations regarding the sale of the Omnis business, the disposition of TigerLogic's remaining assets, the dissolution and winding up of its business, and a possible future distribution to stockholders. Such forward-looking statements are subject to risks and uncertainties, and actual results could differ materially from the plans and expectations presented herein due to several factors, including but not limited to the success of TigerLogic's strategic alternatives process, the ability to complete the sale of its Omnis business on reasonable terms, or at all, the costs to wind up the affairs of the Company, and other risks and uncertainties. All forward-looking statements are made as of the date hereof and TigerLogic disclaims any responsibility to update or revise any forward-looking statement provided in this news release.

TigerLogic and Omnis are trademarks of TigerLogic Corporation. All other trademarks and registered trademarks are properties of their respective owners.

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