China Mobile Games management announces intention to repurchase RMB10M shares The company has been informed that Shuling Ying and Ken Jian Xiao, the company's CEO and Director, intend to individually purchase RMB10M each of the company's American Depositary Shares.
CMGE announces Independent Committee probe completed China Mobile Games and Entertainment announced that the Independent Committee of the Board of the company has completed its review of market rumors of possible bribery. As previously announced, the Independent Committee was formed on June 20 and is comprised of the four independent directors of the company. The Independent Committee retained Simpson Thacher & Bartlett to assist it in conducting the independent review.The independent review included interviews with relevant personnel and a review of documents, digital information and data extract through procedures recommended by Simpson Thacher. The foregoing investigation did not find any evidence that suggested CMGE or anyone at CMGE had engaged in bribery. The Independent Committee therefore advised CMGE's Board of the completion of its investigation.