The Net Qin rejects the Buffalo capital privatization proposal

Beijing time October 28 Evening News, the Network Qin (NYSE:NQ) announced today, the company's board of Directors has rejected the Buffalo Capital Holdings (Bison, LC) privatization proposals.

Net Qin said July 30 this year that it had received a non-binding privatisation offer from Buffalo Capital Holdings, which plans to buy all of its foreign shares and ads in the company's 9.80 dollar cash per share of US depository shares (ADS).

Net Qin said today, the company's board of directors after careful thinking that continue to maintain the Network Qin for a listed company in line with the best interests of shareholders, can provide the highest value for shareholders.

The company also had the opportunity to consider a range of other strategic options after rejecting the proposal for privatisation of the Buffalo Capital Holdings, the NetQin said.

In addition, NetQin also announced that it has completed the sale of its wholly owned subsidiary, Bison Mobile, to the Buffalo Capital Holdings, and sold 3.58% of its shares to other investors. (Li Ming)