Actions
Semiconductor Announces Share Repurchase Program
ZHUHAI,
China, May 10, 2007 - Actions Semiconductor Co., Ltd. (Nasdaq: ACTS),
one
of
China's leading fabless semiconductor companies,
today
announced that its board of directors has authorized a program to repurchase
up
to 8 million of its American Depositary Shares (ADSs) representing 48 million
ordinary shares. Any shares acquired will be used in connection with the
Company’s employee benefit plans and other general corporate purposes.
Currently, the company has approximately 86 million outstanding ADSs.
The
company said it may repurchase shares in the open market or through privately
negotiated transactions. The timing and actual number of ADSs repurchased will
depend upon market conditions and other factors, in accordance with Securities
and Exchange Commission requirements. The repurchase program has a term which
will expire on December 31, 2008.
“We
believe that this program reflects our confidence in our ability to execute
on
our long-term business goals as well as our dedication to providing value to
our
shareholders,” stated Mr. Nan-Horng Yeh, Chief Executive Officer of Actions
Semiconductor.
About
Actions Semiconductor
Actions
Semiconductor is one of China's leading fabless semiconductor companies that
provides mixed-signal and multimedia SoC solutions for portable consumer
electronics. Actions Semiconductor products include SoCs, firmware, software,
solution development kits, as well as detailed specifications of other required
components and the providers of those components. Actions Semiconductor also
provides total product and technology solutions that allow customers to quickly
introduce new portable consumer electronics to the mass market in a cost
effective way. The company is headquartered in Zhuhai, China, with offices
in
Beijing and Shenzhen. For more information, please visit the Actions
Semiconductor website at http://www.actions-semi.com.
"Safe
Harbor" Statement Under the Private Securities Litigation Reform Act of
1995
Statements
contained in this release that are not historical facts are forward-looking
statements, as that term is defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements, including financial projections and
forecasts, involve risks and uncertainties that could cause Actions
Semiconductor's actual results to differ materially from our current
expectations. Factors that could cause Actions Semiconductor's results to differ
materially from those set forth in these forward-looking statements include
customers' cancellation or modification of their orders; our failure to
accurately forecast demand for our products; the loss of, or a significant
reduction in orders from, any of our significant customers; fluctuations in
our
operating results; our inability to develop and sell new products; defects
in or
failures of our products; the expense and uncertainty involved in our customer
design-win efforts; the financial viability of the distributors of our products;
consumer demand; worldwide economic and political conditions; fluctuations
in
our costs to manufacture our products; our reliance on third parties to
manufacture, test, assemble and ship our products; our ability to retain and
attract key personnel; our ability to compete with our competitors; and our
ability to protect our intellectual property rights and not infringe the
intellectual property rights of others. Other factors that may cause our actual
results to differ from those set forth in the forward-looking statements
contained in this press release and that may affect our prospects in general
are
described in our filings with the Securities and Exchange Commission, including
our Registration Statement on Form F-1 related to our initial public offering
and secondary offering. Actions Semiconductor undertakes no obligation to update
or revise forward-looking statements to reflect subsequent events or changed
assumptions or circumstances.
For
More Information
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Lisa
Laukkanen
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Calvin
Lau
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The
Blueshirt Group for Actions Semiconductor
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Investor
Relations at Actions Semiconductor
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lisa@blueshirtgroup.com
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calvin.lau@actions-semi.com
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415-217-4967
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+86-756
3392 353 *1018
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