NetQin to provide compensation to senior convertible bond holders

Beijing time July 31 afternoon news, NetQin in a paper submitted to the U.S. Securities and Exchange Commission (SEC), said that due to the failure to submit the annual report for the 2013 fiscal year, the company decided to the 2018 expired 4% senior convertible bond holders to provide compensation.

The company decided to distribute additional interest to the holders of the 4% senior convertible bonds maturing at 2018 due to the failure to submit annual reports to bondholders on time, and the extra interest would start on July 29, 2014, the Net Qin said in a statement. Until the Qin Dynasty to the SEC to submit the report of the day before or January 24, 2015.

NetQin's advanced convertible bond issuance rules stipulate that the total amount of additional interest shall not exceed 0.5% of the principal.

If the NetQin has not submitted its annual report to the SEC by January 25, 2015, the convertible bonds issued by the company will expire immediately. (Lin)