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News Breaks
July 3, 2014
08:31 EDTNQNQ Mobile audit committee chair to step down from board
NQ Mobile announced certain changes to its board of directors and provided a status update on its 2013 annual audit. Two new independent Directors, Max Yao and Justin Chen, have been appointed to the board and the audit committee, effective July 6. Max Yao will also serve as chair of the audit committee of the board. Ying Han, the current chair of the audit committee has informed the board that she would be stepping down from the board due to personal reasons not related to her role at the company effective on July 6. "There are no disagreements between Ms. Han in her capacity as chair of the audit committee and the company," NQ stated. "We remain confident in our business, our strategy, and our financials," commented Omar Khan, co-CEO of NQ Mobile. "We believe that the steps we are taking strengthen the collective global experience and expertise of our Board and further enhance our corporate governance."
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November 18, 2015
06:58 EDTNQNQ Mobile enters into binding agreement to sell Beijing Tianya
NQ Mobile announced it has entered into a legally binding agreement to sell 100% of the equity interest in Beijing Tianya , which operates NQ Mobile's mobile health applications related business, to Tack Fiori International Group, a Cayman Islands company listed in Hong Kong, for an aggregate consideration of $40M. Beijing Tianya is a wholly owned subsidiary of Beijing NQ Technology Co., Ltd., NQ Mobile's consolidated affiliated entity in China. The company's board has approved both the transaction and the Agreement. The closing of the transaction is subject to the condition that Tack Fiori obtains the necessary approvals, including shareholder approval, to complete the transaction, as well as additional customary closing conditions, and the satisfaction and compliance of all relevant requirements under the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange Limited.

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