Sky-Mobi( NASDAQ: MOBI) – to repurchase from its shareholders

By GeoTeam|2014-12-10T18:15:22-05:00September 5th, 2014|Categories: Mobile Telecommunications, Software & Computer Services, Telecommunications|0 Comments

Sky-Mobi(NASDAQ:MOBI) ($7.99) – a leading mobile application platform in China, today announced :it has entered into a share purchase agreement to repurchase from its shareholders, Sequoia Capital China Partners Fund II, L.P., Sequoia Capital China Principals Fund II, L.P. and Sequoia Capital China II, L.P., an aggregate of 16,000,000 common shares of par value US$0.00005 per share at a purchase price of US$0.985 per share. Each ADS represents eight common shares of the Company. The share repurchase transaction is expected to be closed within 20 business days. The share repurchase transaction is not part of the US$20 million share repurchase program announced on May 30, 2014. The Company may, from time to time, repurchase shares on the open market, in negotiated transactions or otherwise in compliance with all of the conditions of Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, pursuant to the US$20 million share repurchase program.

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GeoInvesting is an investment research boutique in Skippack, Pennsylvania. The GeoTeam's focus is on providing high quality stock market research tools and in-depth due diligence on U.S. small and micro-cap equities and on Chinese companies trading in China and the U.S. We research long and short ideas, and are the leading research boutique charged with helping investors navigate the treacherous China equity universe with a paramount goal to protect portfolios from fraud. Numerous notable media outlets have credited GEO We have been credited with exposing numerous fraudulent companies in China. We have built a reputation in the US small and micro-cap space as champions of transparency. On the long side, we have also developed a knack for picking stocks that have the propensity to get acquired at attractive premiums to their current prices. Our team is currently comprised of 13 analysts and traders, and 7 on-the-ground researchers in Mainland China.