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TMCNet:  QKL STORES INC. FILES (8-K) Disclosing Change in Directors or Principal Officers, Submission of Matters to a Vote of Security Holders

[June 26, 2014]

QKL STORES INC. FILES (8-K) Disclosing Change in Directors or Principal Officers, Submission of Matters to a Vote of Security Holders

(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective as of June 25, 2014, immediately following the Annual Meeting (as defined below), Mr. Cheng Kam Ho will serve as a member of the Audit Committee, Nominating and Corporate Governance Committee, and Compensation Committee of the board of directors of QKL Stores Inc. (the "Company"). Mr. Cheng will serve as the Chairman of the Compensation Committee of the board of directors of the Company. Mr. Chaoying Li, the previous Chairman of the Compensation Committee and member of the Audit Committee, Nominating and Corporate Governance Committee, resigned effective on January 1, 2014.


The board of directors has determined that Mr. Cheng meets the independence requirements set forth in Rule 5605(a)(2) of the Marketplace Rules of The Nasdaq Stock Market, Inc. (the "Nasdaq Marketplace Rules") and Section 10A(m)(3) of the Securities Exchange Act of 1934, as amended (the "Exchange Act").

A description of Mr. Cheng's biographical information is disclosed in the Company's proxy statement on Form DEF 14A filed with the Securities and Exchange Commission on April 30, 2014.

Item 5.07 Submission of Matters to a Vote of Security Holders.

On June 25, 2014, the Company held its 2014 Annual Meeting of Shareholders (the "Annual Meeting"). At the Annual Meeting, the stockholders elected each of the following five nominees to the board of directors of the Company for a one-year term beginning from the date of the Annual Meeting and expiring at the 2015 annual meeting of stockholders: Mr. Zhuangyi Wang, Ms. Xishuang Fan, Mr. Tsz Fung Philip Lo, Mr. Jingyuan Gao and Mr. Cheng Kam Ho. Additionally, the stockholders ratified the appointment of Albert Wong & Co. LLP as the Company's independent auditors for the fiscal year ending December 31, 2014.

The final voting results are set forth below: 1. Election of Directors Nominee For Against Withheld Broker Non-Votes Zhuangyi Wang 883,401 0 8,651 348,332 Xishuang Fan 883,501 0 8,551 348,332 Tsz Fung Philip Lo 844,445 0 47,607 348,332 Jingyuan Gao 844,320 0 47,732 348,332 Cheng Kam Ho 844,445 0 47,607 348,332 2. Ratification of Albert Wong & Co. LLP as the Company's Independent Auditors For Against Abstain Broker Non-Votes 1,229,593 10,291 500 -

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