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August 14, 2014
07:47 EDTCMGECMGE 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.
News For CMGE From The Last 14 Days
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May 20, 2015
07:14 EDTCMGEChina Mobile Games announces strategic restructuring of subsidiary
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May 18, 2015
08:34 EDTCMGEChina Mobile Games receives non-binding proposal to be acquired for $21.50/ADS
China Mobile Games announced that its board has received a preliminary non-binding proposal from Orient Hongtai Investment Management, a subsidiary of Orient Securities Company, to acquire all of the outstanding shares of the company, including ordinary shares represented by American depositary shares, for $1.54 in cash per Class A or Class B ordinary share, or $21.50 in cash per ADS. A copy of the proposal letter is attached hereto as Exhibit A. Orient Investment has separately indicated to the Company that it has secured committed equity financing from certain of its affiliates and co-investors in an aggregate amount of RMB 5B. The proposal letter did not state any information pertaining to Orient Hongtai's or Orient Investment's current ownership of the company's ordinary shares or ADSs. The company is not aware through public filings or other documents that Orient Hongtai or Orient Investment may beneficially own 5% or more of the company's ordinary shares. In addition, no members of the Board are affiliates of Orient Hongtai or Orient Investment.
08:32 EDTCMGEChina Mobile Games receives non-binding proposal to be acquired for $21.50/ADS
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