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BRIEF-NQ Mobile provides an update on FL Mobile divestment

Nov 23 NQ Mobile Inc :

* NQ Mobile-Vincent Wenyong Shi, Xinjiang Yinghe equity exercised options to revert some of transactions regarding equity interests in FL Mobile

* NQ Mobile Inc - Shi And Company agreed to revert sale of 5.66% equity interest in FL Mobile

* NQ Mobile Inc - as result of reversal, equity interests in Fl Mobile purchased by Shi under transaction was changed to 16.34%

* NQ Mobile Inc - due to reversal consideration was adjusted proportionately from RMB880 million to RMB653.6 million

* NQ Mobile-Shi entered series of arrangements with Xinjiang NQ to act as nominee shareholder of 5.66% equity interest on behalf of Xinjiang NQ going forward

* NQ Mobile Inc - after obtaining effective control of 5.66% equity interests in FL Mobile, Xinjiang NQ controls 51% equity interests in FL Mobile

* NQ Mobile Inc - Xinjiang Yinghe And Company recently agreed to revert sale of 12% equity interests in FL Mobile

* NQ Mobile - both parties have option to request reversal of deal in certain circumstances

* NQ Mobile Inc provides an update on the FL Mobile divestment Source text for Eikon: Further company coverage:

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