NQ Mobile Completes Senior Management Share Repurchase Plan
NQ Mobile, 12/06/12
Chinese mobile security provider NQ Mobile (NYSE: NQ) today announced that members of its senior management, including Co-CEOs Henry Lin and Omar Khan, and COO Vincent Shi, among others, have completed their previously announced share purchase plan to use their personal funds to purchase up to an aggregate of USD 2 mln worth of the company's American depositary shares (ADSs) in open market transactions within six months from June 6, 2012.
As of December 6, 2012, NQ Mobile's senior management team has purchased a total of 303,819 ADSs on the open market with an aggregate price of approximately USD 2,026,421. Among them, Co-CEOs Lin and Khan, and COO Shi each purchased 98,050, 51,937 and 98,050 ADSs, using approximately USD 627,117, USD 346,283, and USD 627,117, respectively. The company notes that, due to NQ Mobile's status as a foreign private issuer, purchases of shares by its executive officers cannot be filed using Form 4 with the Securities and Exchange Commission (SEC). As such, the company has provided the details of the purchases in the content of this press release. Any future sales by any executive officers of NQ Mobile are expected to be reported on Form 144 filed with the SEC.
Editor's Note: For more background on this topic, please see "NQ Mobile Announces Senior Management Share Purchase Plan" MD 6/06/12 issue.
Keywords: mobile security wireless NQ Omar Khan NQ Mobile Henry Yu Lin Vincent Wenyong Shi financing anti-virus
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