07-02-2013, 11:39 PM
NQ Mobile Inc. increases its previously announced share repurchase plan. NQ Mobile's Board of Directors has authorized expanding the current share repurchase plan from US$20 million to US$35 million. Under the share repurchase plan authorized by its Board of Directors, NQ Mobile may repurchase up to US$35 million worth of its outstanding ADSs over the period from November 26, 2012 through May 26, 2014. The repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. NQ Mobile's Board of Directors will review the share repurchase plan periodically, and may authorize adjustment of its terms and size. NQ Mobile plans to fund repurchases made under this plan from its existing cash balance and future cash flows.