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June 6, 2012 /PRNewswire-Asia/ -- NQ Mobile Inc. ("NQ Mobile" or the "Company", formerly known as NetQin Mobile Inc.) (NYSE: NQ), a leading global provider of mobile Internet services focusing on security, privacy and productivity, today announced that members of its senior management, including Co-CEOs Dr.
Henry Lin and
Omar Khan, COO
Vincent Shi, President
Zemin Xu and CFO
Suhai Ji, among others, intend to use their personal funds to purchase up to an aggregate of
$2 million worth of the Company's American depositary shares ("ADSs") in open market transactions within six months from
June 6, 2012, pursuant and subject to the restrictions of, and consistent with, applicable laws and the Company's securities trading policy.
"We consider the recent drop in NQ Mobile's share price to be unjustified and we believe our stock to be currently undervalued," commented Dr.
Henry Lin, Chairman and Co-CEO of NQ Mobile. "The plan to purchase NQ Mobile shares on the open market by the NQ Mobile senior management team demonstrates our strong confidence in the company and reflects our commitment to executing our business plan and delivering shareholder value."
About NQ Mobile
NQ Mobile Inc. (NYSE: NQ) is a leading global provider of mobile Internet services focusing on security, privacy and productivity. The company was one of the first to recognize the growing security threats targeting smartphone users and is now a leading provider of Freemium subscription services with approximately 172 million registered user accounts in over 150 countries. NQ Mobile's proprietary, cloud-based security solution has been recognized by third-party testing facilities around the world as the most effective solution for detecting and combating mobile threats. NQ Mobile was bestowed the 2011 Technology Pioneer Award by the World Economic Forum for its technology leadership and innovation in mobile security. To facilitate global expansion, NQ Mobile headquarters are co-located in
Beijing, China and
Dallas, TX, USA. For more information on NQ Mobile, please visit
Forward Looking Statements
This news release contains "forward-looking statements" as defined under applicable U.S. securities regulations. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.