Gushan Environmental Energy amends agreement with BVI company

Gushan Environmental Energy Limited, the China-based company operating copper product business and producing biodiesel in China, announced that it has amended its previously announced Merger Agreement with the British Virgin Islands-registered company Trillion Holdings Limited, Cayman Islands-based exempted company Trillion Energy Investments Holdings Limited, wholly owned by the BVI company, and Mr. Jianqiu Yu, Gushan's Chairman and Principal Executive Officer and whole owner of the BVI company.

According to the Amendment Agreement, the consideration payable to ordinary shareholders increases from US$0.162 to US$0.165 per ordinary share (or US$1.62 to US$1.65 per American Depositary Share), in cash without interest. Also, the Amendment revises the required shareholder vote at the upcoming extraordinary general meeting of Gushan’s shareholders for the approval and adoption of the Amended Merger Agreement, and the Merger.

The Amendment, the Amended Merger Agreement and the Merger were approved by the Company’s Board of Directors, and recommended that shareholders and ADS holders vote for the approval. The merger is currently expected to close in the fourth quarter of 2012, subject to the Revised Requisite Company Vote being obtained.

Mobile Internet company’s holder announces lock-up

NQ Mobile Inc., a global provider of mobile Internet services, announced that its substantial holder, the British Virgin Islands-incorporated company RPL Holdings Limited, agreed to a two-year voluntary lock-up. That means that it will not sell any of its holdings until September 2014.

RPL is owned and controlled by the three founders of NQ Mobile, Dr. Henry Yu Lin, Dr. Vincent Wenyong Shi, and Mr. Xu Zhou. As of June 30, 2012, the BVI company held 50,352,941 Class B common shares of NQ Mobile, which represented approximately 21.2 per cent of NQ Mobile’s outstanding common shares. Also, Dr. Henry Yu Lin and Dr. Vincent Wenyong Shi have agreed not to sell during the lock-up period any other NQ Mobile shares, including shares underlying stock options held by them, totalling 5.35 million Class B common shares assuming exercise of all the outstanding options.