<SUBMISSION>
<ACCESSION-NUMBER>0001062993-15-002680
<TYPE>SC 13D/A
<PUBLIC-DOCUMENT-COUNT>4
<FILING-DATE>20150514
<DATE-OF-FILING-DATE-CHANGE>20150514
<GROUP-MEMBERS>ACCRETIVE CAPITAL MANAGEMENT, LLC
<GROUP-MEMBERS>RICHARD E. FEARON, JR.
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>Actions Semiconductor Co., Ltd.
<CIK>0001342068
<ASSIGNED-SIC>3674
<IRS-NUMBER>000000000
<STATE-OF-INCORPORATION>E9
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13D/A
<ACT>34
<FILE-NUMBER>005-81375
<FILM-NUMBER>15860301
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>15-1, NO.1, HIT ROAD,
<CITY>TANGJIA, ZHUHAI, GUANGDONG
<STATE>F4
<ZIP>519085
<PHONE>(87-756) 339-2353
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>15-1, NO.1, HIT ROAD,
<CITY>TANGJIA, ZHUHAI, GUANGDONG
<STATE>F4
<ZIP>519085
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>ACCRETIVE CAPITAL PARTNERS, LLC
<CIK>0001118118
<IRS-NUMBER>364361768
<STATE-OF-INCORPORATION>IL
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13D/A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>C/O ACCRETIVE CAPITAL MANAGEMENT, LLC
<STREET2>16A WALL STREET, 2ND FLOOR
<CITY>MADISON
<STATE>CT
<ZIP>06443
<PHONE>203-482-5805
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>C/O ACCRETIVE CAPITAL MANAGEMENT, LLC
<STREET2>16A WALL STREET, 2ND FLOOR
<CITY>MADISON
<STATE>CT
<ZIP>06443
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ACCRETIVE CAPITAL PARTNERS LLC
<DATE-CHANGED>20000705
</FORMER-COMPANY>
</FILED-BY>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>sc13da.htm
<DESCRIPTION>FORM SC 13D/A
<TEXT>
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   <TITLE>Accretive Capital Partners, LLC: Schedule 13D/A - Filed by newsfilecorp.com</TITLE>
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<P align=center><FONT size=5><b>SECURITIES AND EXCHANGE COMMISSION
</b></FONT><BR>
<b>WASHINGTON, DC 20549 </b></P>
<P align=center><B>SCHEDULE 13D <BR></B><B>(Rule 13d-101) </B></P>
<P align=center><B>INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
<BR>TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO <BR></B><B>RULE
13d-2(a) </B></P>
<P align=center><B>Amendment No. 2 </B></P>
<P align=center><U><B><FONT size=5>Actions Semiconductor Co., Ltd.
</FONT></B><BR></U>(Name of Issuer) </P>
<P align=center><U>American Depositary Shares <BR></U>(Title of Class of
Securities) </P>
<P align=center><U>00507E107 <BR></U>(CUSIP Number) </P>
<P align=center>ACCRETIVE CAPITAL PARTNERS, LLC <BR>16 Wall Street, 2nd Floor
<BR>Madison, CT 06443 </P>
<P align=center>RICHARD E. FEARON, JR. <BR>16 Wall Street, 2nd Floor
<BR>Madison, CT 06443 <BR><U>(203) 482-5805 </U></P>
<P align=center>(Name, Address and Telephone Number of Person <BR>Authorized to
Receive Notices and Communications) </P>
<P align=center><U>May 14, 2015 </U><BR>(Date of Event Which Requires Filing of
This Statement) </P>
<P align=justify style="text-indent:10%">If the filing person has previously
filed a statement on Schedule 13G to report the acquisition that is the subject
of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e),
13d-1(f) or 13d-1(g), check the following box [ ].</P>
<P align=justify style="text-indent:10%"><I>Note. </I>Schedules filed in paper
  format shall include a signed original and five copies of the schedule,
  including all exhibits. <I>See </I>Rule 13d-7 for other parties to whom copies
  are to be sent. </P>
<P align=center>(Continued on following pages) </P>
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<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center >1 <BR></TD>
    <TD align=left width="92%" colSpan=2>NAME OF REPORTING PERSONS
      <BR>Accretive Capital Partners, LLC </TD></TR>
  <TR vAlign=top>
    <TD align=center >2 <BR></TD>
    <TD align=left width="92%" colSpan=2>CHECK THE APPROPRIATE BOX IF A MEMBER
      OF A GROUP*(a) [&nbsp;&nbsp;&nbsp;&nbsp; ]<BR>(b)
      [&nbsp;&nbsp;&nbsp;&nbsp; ]</TD></TR>
  <TR vAlign=top>
    <TD align=center >3 <BR></TD>
    <TD align=left width="92%" colSpan=2>SEC USE ONLY <BR>&nbsp;&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center >4 <BR></TD>
    <TD align=left width="92%" colSpan=2>SOURCE OF FUNDS <BR>WC </TD></TR>
  <TR vAlign=top>
    <TD align=center >5 <BR></TD>
    <TD align=left width="92%" colSpan=2>CHECK BOX IF DISCLOSURE OF LEGAL
      PROCEEDINGS IS REQUIRED <BR>PURSUANT TO ITEM 2(d) OR 2(e) </TD></TR>
  <TR vAlign=top>
    <TD align=center >6 <BR><BR></TD>
    <TD align=left width="92%" colSpan=2>CITIZENSHIP OR PLACE OF ORGANIZATION
      <BR>&nbsp; <BR>ILLINOIS </TD></TR>
  <TR vAlign=top>
    <TD align=center rowSpan=4 >NUMBER OF <BR>SHARES
      <BR>BENEFICIALLY <BR>OWNED BY <BR>EACH <BR>REPORTING <BR>PERSON WITH
      <BR><BR><BR><BR><BR></TD>
    <TD align=center width="5%" >7 <BR><BR></TD>
    <TD align=left width="87%">SOLE VOTING POWER <BR>&nbsp; <BR>-0- </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%" >8 <BR><BR></TD>
    <TD align=left width="87%">SHARED VOTING POWER <BR>&nbsp; <BR>4,340,507
      American Depositary Shares </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%" >9 <BR><BR></TD>
    <TD align=left width="87%">SOLE DISPOSITIVE POWER <BR>&nbsp; <BR>-0-
</TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%" >10 <BR><BR></TD>
    <TD align=left width="87%">SHARED DISPOSITIVE POWER <BR>&nbsp;
      <BR>4,340,507 American Depositary Shares </TD></TR>
  <TR vAlign=top>
    <TD align=center >11 <BR><BR><BR></TD>
    <TD align=left width="92%" colSpan=2>AGGREGATE AMOUNT BENEFICIALLY OWNED
      BY EACH REPORTING <BR>PERSON <BR>&nbsp; <BR>4,340,507 American Depositary
      Shares </TD></TR>
  <TR vAlign=top>
    <TD align=center >12 <BR></TD>
    <TD align=left width="92%" colSpan=2>CHECK BOX IF THE AGGREGATE AMOUNT IN
      ROW (11) EXCLUDES <BR>CERTAIN SHARES [&nbsp;&nbsp;&nbsp;&nbsp; ]</TD></TR>
  <TR vAlign=top>
    <TD align=center >13 <BR><BR></TD>
    <TD align=left width="92%" colSpan=2>PERCENT OF CLASS REPRESENTED BY
      AMOUNT IN ROW (11) <BR>&nbsp; <BR>7.41% </TD></TR>
  <TR vAlign=top>
    <TD align=center >14 <BR><BR></TD>
    <TD align=left width="92%" colSpan=2>TYPE OF REPORTING PERSON <BR>&nbsp;
      <BR>OO </TD></TR></TABLE></DIV><BR>
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<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center>1 <BR></TD>
    <TD align=left width="90%" colSpan=2>NAME OF REPORTING PERSONS
      <BR>Accretive Capital Management, LLC </TD></TR>
  <TR vAlign=top>
    <TD align=center>2 <BR></TD>
    <TD align=left width="90%" colSpan=2>CHECK THE APPROPRIATE BOX IF A MEMBER
      OF A GROUP*(a) [&nbsp;&nbsp;&nbsp;&nbsp; ]<BR>(b)
      [&nbsp;&nbsp;&nbsp;&nbsp; ]</TD></TR>
  <TR vAlign=top>
    <TD align=center>3 <BR></TD>
    <TD align=left width="90%" colSpan=2>SEC USE ONLY <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center>4 <BR></TD>
    <TD align=left width="90%" colSpan=2>SOURCE OF FUNDS <BR>AF </TD></TR>
  <TR vAlign=top>
    <TD align=center>5 <BR></TD>
    <TD align=left width="90%" colSpan=2>CHECK BOX IF DISCLOSURE OF LEGAL
      PROCEEDINGS IS REQUIRED <BR>PURSUANT TO ITEM 2(d) OR 2(e) </TD></TR>
  <TR vAlign=top>
    <TD align=center>6 <BR><BR></TD>
    <TD align=left width="90%" colSpan=2>CITIZENSHIP OR PLACE OF ORGANIZATION
      <BR>&nbsp;&nbsp; <BR>ILLINOIS </TD></TR>
  <TR vAlign=top>
    <TD align=center rowSpan=4>NUMBER OF <BR>SHARES <BR>BENEFICIALLY <BR>OWNED
      BY <BR>EACH <BR>REPORTING <BR>PERSON WITH <BR><BR><BR><BR><BR></TD>
    <TD align=center width="5%">7 <BR><BR></TD>
    <TD align=left width="85%">SOLE VOTING POWER <BR>&nbsp; <BR>-0- </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%">8 <BR><BR></TD>
    <TD align=left width="85%">SHARED VOTING POWER <BR>&nbsp;&nbsp;
      <BR>4,340,507 American Depositary Shares </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%">9 <BR><BR></TD>
    <TD align=left width="85%">SOLE DISPOSITIVE POWER <BR>&nbsp;&nbsp; <BR>
    -0- </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center width="5%">10 <BR><BR></TD>
    <TD align=left width="85%">SHARED DISPOSITIVE POWER <BR>&nbsp;&nbsp;
      <BR>4,340,507 American Depositary Shares </TD></TR>
  <TR vAlign=top>
    <TD align=center>11 <BR><BR><BR></TD>
    <TD align=left width="90%" colSpan=2>AGGREGATE AMOUNT BENEFICIALLY OWNED
      BY EACH REPORTING <BR>PERSON <BR>&nbsp;&nbsp; <BR>4,340,507 American
      Depositary Shares </TD></TR>
  <TR vAlign=top>
    <TD align=center>12 <BR></TD>
    <TD align=left width="90%" colSpan=2>CHECK BOX IF THE AGGREGATE AMOUNT IN
      ROW (11) EXCLUDES <BR>CERTAIN SHARES [&nbsp;&nbsp;&nbsp;&nbsp; ]</TD></TR>
  <TR vAlign=top>
    <TD align=center>13 <BR><BR></TD>
    <TD align=left width="90%" colSpan=2>PERCENT OF CLASS REPRESENTED BY
      AMOUNT IN ROW (11) <BR>&nbsp;&nbsp; <BR>7.41% </TD></TR>
  <TR vAlign=top>
    <TD align=center>14 <BR><BR></TD>
    <TD align=left width="90%" colSpan=2>TYPE OF REPORTING PERSON
      <BR>&nbsp;&nbsp; <BR>OO, HC </TD></TR></TABLE></DIV><BR>
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<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center >1 <BR><BR></TD>
    <TD align=left width="90%" colSpan=2>NAME OF REPORTING PERSONS
      <BR>
      Richard E. Fearon, Jr. </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center >2 <BR></TD>
    <TD align=left width="90%" colSpan=2>CHECK THE APPROPRIATE BOX IF A MEMBER
      OF A GROUP*(a) [&nbsp;&nbsp;&nbsp;&nbsp; ]<BR>(b)
      [&nbsp;&nbsp;&nbsp;&nbsp; ]</TD></TR>
  <TR vAlign=top>
    <TD align=center >3 <BR></TD>
    <TD align=left width="90%" colSpan=2>SEC USE ONLY <BR>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center >4 <BR></TD>
    <TD align=left width="90%" colSpan=2>SOURCE OF FUNDS <BR>PF </TD></TR>
  <TR vAlign=top>
    <TD align=center >5 <BR></TD>
    <TD align=left width="90%" colSpan=2>CHECK BOX IF DISCLOSURE OF LEGAL
      PROCEEDINGS IS REQUIRED <BR>PURSUANT TO ITEM 2(d) OR 2(e) </TD></TR>
  <TR vAlign=top>
    <TD align=center >6 <BR><BR></TD>
    <TD align=left width="90%" colSpan=2>CITIZENSHIP OR PLACE OF ORGANIZATION
      <BR>&nbsp;&nbsp; <BR>United States </TD></TR>
  <TR vAlign=top>
    <TD align=center rowSpan=4 >NUMBER OF <BR>SHARES
      <BR>BENEFICIALLY <BR>OWNED BY <BR>EACH <BR>REPORTING <BR>PERSON WITH
      <BR><BR><BR><BR><BR></TD>
    <TD align=center width="5%" >7 <BR><BR></TD>
    <TD align=left width="85%">SOLE VOTING POWER <BR>&nbsp;&nbsp;
      <BR>5,582,866<SUP>1</SUP> </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%" >8 <BR><BR></TD>
    <TD align=left width="85%">SHARED VOTING POWER <BR>&nbsp;&nbsp; <BR>-0-
  </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%" >9 <BR><BR></TD>
    <TD align=left width="85%">SOLE DISPOSITIVE POWER <BR>&nbsp;&nbsp;
      <BR>5,582,866<SUP>1</SUP> </TD></TR>
  <TR vAlign=top>
    <TD align=center width="5%" >10 <BR><BR></TD>
    <TD align=left width="85%">SHARED DISPOSITIVE POWER <BR>&nbsp;&nbsp;
      <BR>-0- </TD></TR>
  <TR vAlign=top>
    <TD align=center >11 <BR><BR><BR></TD>
    <TD align=left width="90%" colSpan=2>AGGREGATE AMOUNT BENEFICIALLY OWNED
      BY EACH REPORTING <BR>PERSON <BR>&nbsp;&nbsp; <BR>5,582,866<SUP>1</SUP>
  </TD></TR>
  <TR vAlign=top>
    <TD align=center >12 <BR></TD>
    <TD align=left width="90%" colSpan=2>CHECK BOX IF THE AGGREGATE AMOUNT IN
      ROW (11) EXCLUDES <BR>CERTAIN SHARES [&nbsp;&nbsp;&nbsp;&nbsp; ]</TD></TR>
  <TR vAlign=top>
    <TD align=center >13 <BR><BR></TD>
    <TD align=left width="90%" colSpan=2>PERCENT OF CLASS REPRESENTED BY
      AMOUNT IN ROW (11) <BR>&nbsp;&nbsp; <BR>9.53% </TD></TR>
  <TR vAlign=top>
    <TD align=center >14 <BR><BR></TD>
    <TD align=left width="90%" colSpan=2>TYPE OF REPORTING PERSON
      <BR>&nbsp;&nbsp; <BR>IN </TD></TR></TABLE></DIV>
<P align=justify><SUP>___________________________________<BR>1</SUP> Includes
4,340,507 American Depositary Shares held directly by Accretive Capital
Partners, LLC, of which Accretive Capital Management, LLC is the manager and Mr.
Fearon is the managing member of Accretive Capital Management, LLC. </P>
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<P align=justify style="text-indent:10%">This amendment No. 2 to Schedule
13D (this &#147;Amendment No. 2&#148;) amends and restates the statement on Schedule 13D
filed on December 3, 2014 as amended prior to the date of this amendment (as so
amended, the &#147;Original Schedule 13D&#148;), by: (i) Accretive Capital Partners, LLC
an Illinois limited liability company (&#147;ACP&#148;); (ii) Accretive Capital
Management, LLC, an Illinois limited liability company (&#147;ACM&#148;); and (iii)
Richard E. Fearon, Jr., a citizen of the United States (together with ACP and
ACM, the &#147;Reporting Persons&#148;) and relates to the American Depositary Shares (the
&#147;Shares&#148;) of Actions Semiconductor Co., Ltd., a Cayman Islands corporation (the
&#147;Issuer&#148;). The address of the principal executive offices of the Issuer is No.
1, Ke Ji Si Road, Technology Innovation Coast of Hi-Tech Zone, Zhuhai,
Guangdong, 519085, The People&#146;s Republic of China.</P>
<P align=justify style="text-indent:10%">The purpose of this Amendment No.
  2 is: (i) to amend and restate the percent of class held by the Reporting
  Persons, which has changed since the Issuer restated its ordinary share count in
  the Issuer's Form 6-K filing for the period ended March 31, 2015, filed with the
  Securities and Exchange Commission on May 13, 2015; (ii) to amend the
  transactions in the Shares during the past sixty days identified in Schedule A,
  attached; and (iii) to correct the typographical error contained in Exhibit
  99.1, which stated that Mr. Lin is Director and Chief Financial Officer of a
  semiconductor wafer manufacturer, United Microelectronics Corporation, and
  should have stated Mr. Lin was Director and Chief Financial Officer of a
semiconductor wafer manufacturer, United Microelectronics Corporation. </P>
<P align=justify style="text-indent:10%">Capitalized terms not defined in
  this Amendment No. 2 shall have the meaning ascribed to them in the Original
  Schedule 13D. Except as set forth herein, the Original Schedule 13D is
  unmodified.<B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Item 1. </TD>
    <TD align=left width="90%"><U>Security and Issuer.</U>
</TD></TR></TABLE>
<P align=justify style="text-indent:10%">Item 1 of the Original Schedule 13D is hereby amended and
restated as follows: </P>
<P align=justify style="text-indent:10%">&#147;The Reporting Persons
beneficially own 5,582,866 Shares of the Issuer. The number of Shares owned by
the Reporting Persons have been amended and restated to reflect transactions in
the Shares during the past sixty days, which are identified in Schedule A,
attached. Moreover, the Issuer has restated its ordinary share count in the
Issuer's Form 6-K filing for the period ended March 31, 2015, filed with the
Securities and Exchange Commission on May 13, 2015. As a result of this
restatement, the Shares owned by the Reporting Persons now represent a lower
percentage of the outstanding shares of the Issuer than reported in Amendment
No. 1. Specifically, the Shares owned by the Reporting Persons now represent
approximately 9.53% of the ordinary shares outstanding, based on 58,611,190
Shares outstanding as of March 31, 2015, which is the total number of Shares
outstanding, based on 351,667,139 ordinary shares of the Issuer, as reported in
the Issuer&#146;s 6-K filing for the period ended March 31, 2015, filed with the
Securities and Exchange Commission on May 13, 2015.&#148; </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Item 5. </TD>
    <TD align=left width="90%"><U>Interest in Securities of the Issuer.</U>
  </TD></TR></TABLE>
<P align=justify style="text-indent:10%">Item 5 of the Original Schedule
13D is hereby amended and restated to read in full as follows:</P>
<P align=justify style="text-indent:10%">&#147;The aggregate percentage of
Shares reported owned by each person named herein is based upon 58,611,190
Shares outstanding as of March 31, 2015, which is the total number of Shares
outstanding, based on 351,667,139 ordinary shares of the Issuer outstanding, as
reported in the Issuer&#146;s 6-K filing for the period ended March 31, 2015, filed
with the Securities and Exchange Commission on May 13, 2015. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">A. </TD>
    <TD colSpan=2>
      <P align=justify>Each of ACP and ACM:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD width="5%">
      <P align=justify>(a) </P></TD>
    <TD>Amount beneficially owned: 4,340,507</TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>Percentage: 7.41%</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD width="5%">
      <P align=justify>1. </P></TD>
    <TD >Sole power to vote or direct vote: 0</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>Shared power to vote or direct vote: 4,340,507</P></TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>Sole power to dispose or direct the disposition:
  0</P></TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>Shared power to dispose or direct the disposition:
      4,340,507</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD colSpan=2>
      <P align=justify>The transactions in the Shares by ACP and ACM during the
      past sixty days are set forth in <U>Schedule A </U>and are incorporated
      herein by reference.</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">B. </TD>
    <TD colSpan=3>
      <P align=justify>Mr. Fearon:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD colSpan=2>
      <P align=justify>Amount beneficially owned: 5,582,866</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>Percentage: 9.53%</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD width="5%">
      <P align=justify>1. </P></TD>
    <TD >Sole power to vote or direct vote: 5,582,866</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>Shared power to vote or direct vote: 0</P></TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>Sole power to dispose or direct the disposition:
      5,582,866</P></TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">4. </TD>
    <TD>
      <P align=justify>Shared power to dispose or direct the disposition:
    0</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD colSpan=2>
      <P align=justify>The transactions in the Shares by Mr. Fearon during the
      past sixty days are set forth in <U>Schedule A </U>and are incorporated
      herein by reference.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>An aggregate of 5,582,866 Shares, constituting
      approximately 9.53% of the Shares outstanding, are reported in this
      Amendment No. 2.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD colSpan=2>
      <P align=justify>No person other than the Reporting Persons is known to
      have the right to receive, or the power to direct the receipt of dividends
      from, or proceeds from the sale of, the Shares.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD colSpan=2>
      <P align=justify>Not applicable.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >Item 7. </TD>
    <TD align=left width="90%"><U>Material to be Filed as an Exhibit.</U>
  </TD></TR></TABLE>
<P align=justify style="text-indent:10%">Item 7 of the Original Schedule
13D is hereby replaced with the following Exhibit 99.1 to reflect: (i) the
amendment and restatement of the percent of class held by the Reporting Persons,
which has changed since the Issuer restated its ordinary share count in the
Issuer's Form 6-K filing for the period ended March 31, 2015, filed with the
Securities and Exchange Commission on May 13, 2015 and due to transactions by
the Reporting Persons in the Shares during the past sixty days identified in
Schedule A, attached; and (ii) the correction of the typographical error
contained in Exhibit 99.1, which stated that Mr. Lin is Director and Chief
Financial Officer of a semiconductor wafer manufacturer, United Microelectronics
Corporation, and should have stated Mr. Lin was Director and Chief Financial
Officer of a semiconductor wafer manufacturer, United Microelectronics
Corporation: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >
    <P align=justify><a href="exhibit99-1.htm">Exhibit 99.1 </a></P></TD>
    <TD align=left width="90%" bgColor=#eeeeee>
      <P align=justify><a href="exhibit99-1.htm">An Open Letter to the Board of Directors of Actions
      Semiconductor Co., Ltd., dated May 14, 2015 by Accretive Capital
  Management, LLC </a></P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_7></A>
<P align=center><B>SIGNATURES </B></P>
<P align=justify style="text-indent:10%">After reasonable inquiry and to
the best of his knowledge and belief, each of the undersigned certifies that the
information set forth in this statement is true, complete and correct. </P>
<P align=justify>May 14, 2015 </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>ACCRETIVE CAPITAL PARTNERS, LLC
</TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="5%" >By: </TD>
    <TD align=left width="43%">Accretive Capital Management, LLC, its managing
      member </TD></TR>
  <TR>
    <TD  >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD align=left width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="5%" >By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">/s/
      Richard E. Fearon, Jr. </TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>Name: Richard E. Fearon, Jr. </TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>Title: Managing Member </TD></TR>
  <TR>
    <TD  >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>ACCRETIVE CAPITAL MANAGEMENT, LLC
  </TD></TR>
  <TR>
    <TD  >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="48%"
    colSpan=2>/s/ Richard E. Fearon, Jr. </TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>Name: Richard E. Fearon, Jr. </TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>Title: Managing Member </TD></TR>
  <TR>
    <TD  >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD  >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="48%"
    colSpan=2>/s/ Richard E. Fearon, Jr. </TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>Richard E. Fearon, Jr.
</TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_8></A>
<P align=center><B><U>SCHEDULE A</U></B><B> </B></P>
<P align=center><B><U>Transactions in the Shares During the Past Sixty
Days</U></B><B> </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center>Shares of Common Stock </TD>
    <TD align=center width="33%">Price Per </TD>
    <TD align=center width="33%">Date of </TD></TR>
  <TR vAlign=top>
    <TD align=center><U>Purchased/(Sold)</U> </TD>
    <TD align=center width="33%"><U>Share($)</U> </TD>
    <TD align=center width="33%"><U>Purchase/(Sale)</U>
</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center colSpan=3><B><U>ACCRETIVE CAPITAL PARTNERS, LLC</U></B>
    </TD></TR>
  <TR>
    <TD align=center>&nbsp; </TD>
    <TD align=center width="33%">&nbsp; </TD>
    <TD align=center width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>2,450 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.49 </TD>
    <TD align=center width="33%" bgColor=#e6efff>3/19/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>1,000 </TD>
    <TD align=center width="33%">$1.50 </TD>
    <TD align=center width="33%">3/20/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>376 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.47 </TD>
    <TD align=center width="33%" bgColor=#e6efff>3/25/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>400 </TD>
    <TD align=center width="33%">$1.49 </TD>
    <TD align=center width="33%">3/27/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>1,182 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.48 </TD>
    <TD align=center width="33%" bgColor=#e6efff>3/30/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>2,962 </TD>
    <TD align=center width="33%">$1.48 </TD>
    <TD align=center width="33%">3/31/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>600 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.48 </TD>
    <TD align=center width="33%" bgColor=#e6efff>4/1/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>2,200 </TD>
    <TD align=center width="33%">$1.54 </TD>
    <TD align=center width="33%">4/9/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>5,300 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.56 </TD>
    <TD align=center width="33%" bgColor=#e6efff>4/10/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>6,200 </TD>
    <TD align=center width="33%">$1.56 </TD>
    <TD align=center width="33%">4/10/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>1,700 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.55 </TD>
    <TD align=center width="33%" bgColor=#e6efff>4/13/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>9,000 </TD>
    <TD align=center width="33%">$1.55 </TD>
    <TD align=center width="33%">4/20/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>646 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.50 </TD>
    <TD align=center width="33%" bgColor=#e6efff>4/28/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>3,900 </TD>
    <TD align=center width="33%">$1.50 </TD>
    <TD align=center width="33%">4/29/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>13,454 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.51 </TD>
    <TD align=center width="33%" bgColor=#e6efff>4/29/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>6,154 </TD>
    <TD align=center width="33%">$1.50 </TD>
    <TD align=center width="33%">4/30/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>200 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.48 </TD>
    <TD align=center width="33%" bgColor=#e6efff>5/1/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>5,300 </TD>
    <TD align=center width="33%">$1.48 </TD>
    <TD align=center width="33%">5/4/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>200 </TD>
    <TD align=center width="33%" bgColor=#e6efff>$1.48 </TD>
    <TD align=center width="33%" bgColor=#e6efff>5/5/2015 </TD></TR>
  <TR vAlign=top>
    <TD align=center>800 </TD>
    <TD align=center width="33%">$1.47 </TD>
    <TD align=center width="33%">5/13/2015 </TD></TR></TABLE>
<P align=center><B><U>RICHARD E. FEARON, JR.</U></B><B> </B></P>
<P align=center>None </P>
<HR align=center width="100%" color=black noShade SIZE=5>

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>Accretive Capital Partners, LLC: Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
</HEAD>
<BODY style="font-size:10pt;">
<HR noshade align="center" width=100% size=3 color="black">
<!--$$/page=--><A name=page_1></A><br>
<IMG
src="exhibit99-1x1x1.jpg" border=0 width="298" height="98"> <BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=right>16 Wall Street, 2<SUP>nd </SUP>Floor </TD></TR>
  <TR vAlign=top>
    <TD align=right>Madison, Connecticut 06443 </TD></TR>
  <TR vAlign=top>
    <TD align=right>203.482.5805 direct </TD></TR>
  <TR vAlign=top>
    <TD align=right>info@accretivecapital.com </TD></TR>
  <TR vAlign=top>
    <TD align=right>www.accretivecapital.com </TD></TR></TABLE>
<P align=justify><B><I>An Open Letter to the Board of Directors of Actions
Semiconductor Co., Ltd. </I></B></P>
<P align=justify>May 14, 2015 </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Mr. Hsiang-Wei Lee </TD></TR>
  <TR vAlign=top>
    <TD align=left>Mr. Chin-Hsin Chen </TD></TR>
  <TR vAlign=top>
    <TD align=left>Mr. Jun Tse Huang </TD></TR>
  <TR vAlign=top>
    <TD align=left>Mr. Yu-Hsin Lin </TD></TR>
  <TR vAlign=top>
    <TD align=left>Mr. Nan-Horng Yeh </TD></TR>
  <TR vAlign=top>
    <TD align=left>Actions Semiconductor Co., Ltd. </TD></TR>
  <TR vAlign=top>
    <TD align=left>No. 1 Ke Ji Si Road </TD></TR>
  <TR vAlign=top>
    <TD align=left>Technology Innovation Coast of Hi-Tech Zone </TD></TR>
  <TR vAlign=top>
    <TD align=left>Zhuhai, Guangdong, 519085 </TD></TR>
  <TR vAlign=top>
    <TD align=left>People&#146;s Republic of China </TD></TR></TABLE>
<P align=justify>To the Board of Directors of Actions Semiconductor: </P>
<P align=justify>As you know, we received your correspondence&#151;written by the
Corporate Secretary to Actions Semiconductor, delivered more than four months
after making our director nominations, sent to us by the Company&#146;s IR
representative instead of you, and informing us of your extraordinary decision
to reject the Accretive Capital Partners director nominees. We find your
behavior utterly despicable and blatantly conflicted&#151;yet perfectly consistent
with your abusive behavior towards shareholders of Actions Semiconductor,
including the largest shareholder of the Company. We cannot fathom how any one
of you can possibly claim to be acting in the best interest of the Company or
its shareholders. </P>
<P align=justify>For more than eight long and excruciating years, Accretive
Capital Partners and its affiliates have been among the largest and most
supportive shareholders of Actions Semiconductor Co., Ltd. ("Actions" or the
"Company"). We own over 33.3 million ordinary shares (or approximately 5.6
million ADS shares) held by our fund and its affiliates. </P>
<P align=justify>Our ownership now equates to approximately 9.5% of the
outstanding shares (based on 351,667,139 Ordinary Shares outstanding, as
reported in the Issuer&#146;s 6-K filing for the period ended March 31, 2015, filed
with the Securities and Exchange Commission on May 13, 2015), as compared to
<I>less than 1% held by the entire Board of Directors and management
combined</I>. </P>
<P align=justify>Despite your total disinterest in purchasing ownership and your
failure to provide management with any direction to build or even to preserve
value at Actions, we nevertheless take pride in being value-added partners to
the Company and our fellow shareholders. We have worked hard to provide constructive advice during the past eight years,
despite the extraordinary destruction of shareholder value authorized by you, as
directors of our Company. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<IMG
src="exhibit99-1x2x1.jpg" border=0 width="169" height="67"> <BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=right>May 14, 2015 </TD></TR>
  <TR vAlign=top>
    <TD align=right>Page 2 </TD></TR></TABLE>
<P align=justify>We believe that investment firms like ours serve an important
societal role in identifying outstanding business managers and supporting them
as they turn their visions of fulfilling market needs into realities of new
products or better services, improving life for everyone. We strive to achieve
our professional responsibilities by investing in and partnering with
exceptional CEOs who have demonstrated their success at allocating assets as
they build superior businesses. And we are committed to allocating the funds
entrusted to us by our investors intelligently, honorably, and just as
rationally. </P>
<P align=justify>It is with these responsibilities in mind that we come to the
disheartening conclusion that the Board of Directors at Actions Semiconductor
shares none of our values. </P>
<P align=justify>We are writing you once again to advise you of our: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><B>1.</B> </TD>
    <TD>
      <P align=justify><B>Grave concerns relating to your conflicts of interest
      and related-party transactions at Actions Semiconductor and our continued
      questions which have gone unanswered by the Board of Directors for over
      six months;</B></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><B>2.</B> </TD>
    <TD>
      <P align=justify><B>Intention to consider extraordinary corporate
      transactions with Actions, including but not limited to a merger,
      reorganization, liquidation, or offer to purchase the outstanding
      securities of the Company;</B></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><B>3.</B> </TD>
    <TD>
      <P align=justify><B>Amendment to our Schedule 13D filing with the U.S.
      Securities and Exchange Commission to report these
  developments;</B></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><B>4.</B> </TD>
    <TD>
      <P align=justify><B>Recommendation that you replace your director
      nominations with the candidates nominated by Accretive Capital Partners on
      December 8, 2014; and</B></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><B>5.</B> </TD>
    <TD>
      <P align=justify><B>Interest in hearing from other concerned shareholders,
      who may contact as at the following email or phone number:
      info@accretivecapital.com or 203.794.6360.</B></P></TD></TR></TABLE>
<P align=justify>We are extremely troubled by the obvious conflicts of interest
and related-party transactions with Nan-Horng Yeh ("Mr. Yeh") and Yu-Hsin Lin
("Mr. Lin"), and we are shocked that other Board members do not understand the
risks of providing continued support to these two directors. </P>
<P align=justify>Specifically: Mr. Yeh is Chairman of the Board and substantial
owner of Realtek Semiconductor Corporation (&#147;Realtek&#148;), which has received
significant investment capital from Actions; moreover, Mr. Yeh's elder brother
is President of GMI Technology ("GMI"), which is one of the largest distributors
of semiconductors for Actions and was sold product for $9.2 million in 2014; and
Mr. Lin was Director and Chief Financial Officer of a semiconductor wafer
manufacturer, United Microelectronics Corporation ("UMC"), which sells Actions
almost all of its semiconductor wafers. </P>
<P align=justify>Each of these related-parties stands to lose substantial
profits if Actions were to sell the Company to a third party or even to
eliminate certain unprofitable product lines so that Actions shareholders could
benefit from a profitable business of their own. Meanwhile, Mr. Yeh continues to serve as a director at Actions, charged by our
Company with fiduciary duties to Actions&#151;and not to Realtek or GMI. Amazingly,
Mr. Lin serves as Chairman of the Audit Committee for Actions, entrusted with
the responsibility and power to approve these related party transactions. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A>
<IMG
src="exhibit99-1x2x1.jpg"
border=0 width="169" height="67">&nbsp;<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=right>May 14, 2015 </TD></TR>
  <TR vAlign=top>
    <TD align=right>Page 3 </TD></TR></TABLE>
<P align=justify>In each of the last six (6) years since 2008, Actions has
hemorrhaged an operating loss totaling a staggering $102.7 million. Last year
alone, under the direction of this Board, Actions destroyed $39.5 million of
Company assets with its operating loss. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>1.</I> </TD>
    <TD>
      <P align=justify><I>Did Realtek, GMI, or UMC suffer any of these operating
      losses?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>2.</I> </TD>
    <TD>
      <P align=justify><I>What products were sold to GMI for $9.2 million in
      2014 and were they sold at a loss or had they been previously written
      down?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>3.</I> </TD>
    <TD>
      <P align=justify><I>How is it that these related parties to Mr. Yeh and
      Mr. Lin can enjoy profits from Actions when we shareholders must endure
      these extraordinary losses?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>4.</I> </TD>
    <TD>
      <P align=justify><I>How is it that Mr. Yeh and Mr. Lin are acting in the
      best interest of Actions shareholders by authorizing ongoing operating
      losses to the benefit of Realtek, GMI, and UMC?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>5.</I> </TD>
    <TD>
      <P align=justify><I>How does Mr. Yeh fulfill his fiduciary duties as a
      director when he is personally conflicted in significant related party
      transactions with Realtek and GMI?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">6. </TD>
    <TD>
      <P align=justify><I>How does Mr. Lin fulfill his fiduciary duties as
      Chairman of the Audit Committee when he is personally conflicted in
      significant related party transactions with
UMC?</I></P></TD></TR></TABLE>
<P align=justify>Mr. Yeh and Mr. Lin are unwilling to authorize additional
Company stock repurchases, have purchased no Actions stock for themselves, and
are unwilling to consider a sale of the Company. We believe the sole purpose for
continuing this money-losing business at the expense of Actions shareholders is
to enrich the related parties of Mr. Yeh and Mr. Lin. </P>
<P align=justify>We are also perplexed by the transactions approved by this
Board on behalf of shareholders. The following investments, as reported in the
Company's Form 20-F filings since 2005, have resulted in an astounding <B>loss
of more than $35.9 million, or 46% of the invested capital</B>: </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_4></A>
<IMG
src="exhibit99-1x2x1.jpg"
border=0 width="169" height="67">&nbsp;<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=right>May 14, 2015 </TD></TR>
  <TR vAlign=top>
    <TD align=right>Page 4 </TD></TR></TABLE><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center bgColor=#004080><FONT color=#ffffff><BR><BR><B>($ in
      millions)</B> </FONT></TD>
    <TD width="13%" align=center nowrap bgColor=#004080><FONT
      color=#ffffff><BR>
      <B>Date of</B> <BR><B>Investment </B></FONT></TD>
    <TD width="13%" align=center nowrap bgColor=#004080><FONT
      color=#ffffff><BR>
      <B>Amount</B> <BR><STRONG>Invested</STRONG> </FONT></TD>
    <TD width="13%" align=center nowrap bgColor=#004080><FONT
      color=#ffffff><B>Carrying</B> <BR>
      <B>Value at</B> <BR><B>12/31/14</B>
      </FONT></TD>
    <TD width="13%" align=center nowrap bgColor=#004080><FONT
      color=#ffffff><BR>
    <B>Return on</B> <BR><B>Investment</B> </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Beijing Actions Microelectronics Co., Ltd.</B> </TD>
    <TD align=left width="13%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp;2005 </TD>
    <TD align=right width="13%">$ 6.1 </TD>
    <TD align=right width="13%">$ 3.3 </TD>
    <TD align=right width="13%">-45% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff><B>AMC Holdings Limited</B> </TD>
    <TD align=left width="13%" bgColor=#ffffff>&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;2007 </TD>
    <TD align=right width="13%" bgColor=#ffffff>27.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>0.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>-100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff><B>Bizlink Holdings Inc.</B> </TD>
    <TD align=left width="13%" bgColor=#ffffff>&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;2007 </TD>
    <TD align=right width="13%" bgColor=#ffffff>1.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>0.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>-100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff><B>Unitech Electronics Co., Ltd.</B> </TD>
    <TD align=left width="13%" bgColor=#ffffff>&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;2007 </TD>
    <TD align=right width="13%" bgColor=#ffffff>0.2 </TD>
    <TD align=right width="13%" bgColor=#ffffff>0.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>-100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff><B>Actar Limited</B> </TD>
    <TD align=left width="13%" bgColor=#ffffff>&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;2008 </TD>
    <TD align=right width="13%" bgColor=#ffffff>3.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>0.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>-100% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff><B>Nann Capital Corporation</B> </TD>
    <TD align=left width="13%" bgColor=#ffffff>&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;2009 </TD>
    <TD align=right width="13%" bgColor=#ffffff>24.2 </TD>
    <TD align=right width="13%" bgColor=#ffffff>24.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>-1% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff><B>Grand Choice Investment Limited</B> </TD>
    <TD align=left width="13%" bgColor=#ffffff>&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;2010 </TD>
    <TD align=right width="13%" bgColor=#ffffff>2.7 </TD>
    <TD align=right width="13%" bgColor=#ffffff>0.8 </TD>
    <TD align=right width="13%" bgColor=#ffffff>-70% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff><B>Hi-Trend Investment Holdings Co.,
      Ltd.</B> </TD>
    <TD align=left width="13%" bgColor=#ffffff>&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;2010 </TD>
    <TD align=right width="13%" bgColor=#ffffff>1.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>1.1 </TD>
    <TD align=right width="13%" bgColor=#ffffff>8% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff><B>OCTT Asia Limited</B> </TD>
    <TD align=left width="13%" bgColor=#ffffff>&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;2011 </TD>
    <TD align=right width="13%" bgColor=#ffffff>13.7 </TD>
    <TD align=right width="13%" bgColor=#ffffff>13.7 </TD>
    <TD align=right width="13%" bgColor=#ffffff>0% </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff>&nbsp;<B>Total</B> </TD>
    <TD align=left width="13%" bgColor=#ffffff>&nbsp; </TD>
    <TD align=right width="13%" bgColor=#ffffff>$ 78.9 </TD>
    <TD align=right width="13%" bgColor=#ffffff>$ 43.0 </TD>
    <TD align=right width="13%" bgColor=#ffffff>-46%
</TD></TR></TABLE></DIV>
<P align=justify><B><U>Beijing Actions Microelectronics Co., Ltd.</U></B><B>
</B></P>
<P align=justify>On November 17, 2005 Actions established a subsidiary, Actions
Microelectronics Co., Ltd. ("Beijing Actions") which served as a holding company
for its research and development center for imaging and video technology. On
September 22, 2009, Beijing Actions introduced a group of new shareholders and
Actions further invested $1.5 million. The Company subsequently invested an
additional $2.6 million on January 25, 2011. Actions total investment reached
$6.1 million as of January 25, 2011, and the Company held a <I>minority</I>
stake of 46% equity interest in Beijing Actions. The carrying value as of
December 31, 2014 was only $3.3 million, a 45% decline in value. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>7.</I> </TD>
    <TD>
      <P align=justify><I>Who owns the other 54% of Beijing
  Actions?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>8.</I> </TD>
    <TD>
      <P align=justify><I>Why is this minority investment in a business
      controlled by another party that has lost 45% of its value in the best
      interest of Actions shareholders?</I></P></TD></TR></TABLE>
<P align=justify><B><U>AMC Holdings Limited</U></B><B> </B></P>
<P align=justify>In 2007, Actions acquired a <I>minority</I> stake of 5% equity
interest in AMC Holdings Limited ("AMC"), which has somehow grown to a total
investment of $27.0 million. AMC was established in Taiwan and engages in
manufacturing printed circuit board (PCB) laminate and providing other related
sub-contractor service. Actions' investment in AMC is now worthless, with a
reported carrying value of $0.0 as of December 31, 2014. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>9.</I> </TD>
    <TD>
      <P align=justify><I>Who owns the other 95% of AMC?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>10.</I> </TD>
    <TD>
      <P align=justify><I>Why is a minority investment in a Taiwanese company
      unrelated to Actions&#146; core business that lost an astounding $27.0 million
      in the best interest of shareholders?</I></P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A>
<IMG
src="exhibit99-1x2x1.jpg"
border=0 width="169" height="67">&nbsp;<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=right>May 14, 2015 </TD></TR>
  <TR vAlign=top>
    <TD align=right>Page 5 </TD></TR></TABLE>
<P align=justify><B><U>Bizlink Holdings Inc.</U></B><B> </B></P>
<P align=justify>In 2007, Actions made a $1.0 million investment in Bizlink
Holdings Inc. ("Bizlink"), a manufacturer of interconnectivity solutions such as
cable, wire and connectors. In 2008, the equity value of this investment was
wiped out, resulting in a $0.0 carrying value as of December 31, 2008.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>11.</I> </TD>
    <TD>
      <P align=justify><I>Who were the other investors in Bizlink?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>12.</I> </TD>
    <TD>
      <P align=justify><I>Why is this investment, which lost its entire value in
      1 year, in the best interest of shareholders?</I></P></TD></TR></TABLE>
<P align=justify><B><U>Unitech Electronics Co., Ltd.</U></B><B> </B></P>
<P align=justify>In 2007, Actions invested $100,000 in Unitech Electronics Co.,
Ltd. ("Unitech"), a manufacturer and designer of automatic identification and
data collection products. Actions invested an additional $100,000 in 2008; since
increasing its investment in Unitech to $200,000 in 2008, however, Actions has
made no mention of this investment in its subsequent 20-F filings.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>13.</I> </TD>
    <TD>
      <P align=justify><I>What has happened to Actions&#146; investment in Unitech
      and what is its current value?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>14.</I> </TD>
    <TD>
      <P align=justify><I>Why is this investment in the best interest of
      shareholders?</I></P></TD></TR></TABLE>
<P align=justify><B><U>Actar Limited</U></B><B> </B></P>
<P align=justify>In 2008, Actions acquired a 7% <I>minority</I> stake in Actar
Limited ("Actar"), which was established in the PRC and engages in the
entertainment media industry, for $3.0 million. Since Actions made this
investment, Actar has become fully impaired, completed a liquidation process,
and has a carrying value of $0.0 as of December 31, 2014. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>15.</I> </TD>
    <TD>
      <P align=justify><I>Who owns the other 93% of Actar?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">16. </TD>
    <TD>
      <P align=justify><I>Why is this $3 million minority investment, which
      resulted in a total loss of capital, in the best interest of
      shareholders?</I></P></TD></TR></TABLE>
<br>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_6></A>
<IMG
src="exhibit99-1x2x1.jpg"
border=0 width="169" height="67">&nbsp;<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=right>May 14, 2015 </TD></TR>
  <TR vAlign=top>
    <TD align=right>Page 6 </TD></TR></TABLE>
<P align=justify><B><U>Nann Capital Corporation</U></B><B> </B></P>
<P align=justify>In August 2009, the Company&#146;s Hong Kong subsidiary, Actions
  Enterprises (via its Shanghai subsidiary, Actions Technology), obtained land use
  rights to the Shanghai Zhangjiang High-Tech Park office building. Less than a
  year later, in July 2010, the Company transferred all ownership interest of
  Actions Enterprises to Nann Capital ("Nann") for $1 and the Company further
  invested $4.4 million for a 40% ownership stake in Nann. The following year, in
  June 2011, Actions invested an additional $7.1 million in Nann. In April 2014,
  Actions invested another $3.7 million, and in May 2014, Actions invested an additional
  $9.0 million, for a total investment of $24.2 million. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>17.</I> </TD>
    <TD>
      <P align=justify><I>Who owns and manages Nann?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>18.</I> </TD>
    <TD>
      <P align=justify><I>Where is Nann domiciled?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>19.</I> </TD>
    <TD>
      <P align=justify><I>What are the management fees paid by Actions to
      Nann?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>20.</I> </TD>
    <TD>
      <P align=justify><I>What are Actions&#146; liquidity provisions for this
      investment?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>21.</I> </TD>
    <TD>
      <P align=justify><I>Why is this minority investment in Nann in the best
      interests of Actions shareholders?</I></P></TD></TR></TABLE>
<P align=justify><B><U>Hi-Trend Investment Holdings Co., Ltd.</U></B><B>
</B></P>
<P align=justify>In 2010, Actions acquired a 10% <I>minority</I> equity interest
in Hi-Trend Investment Holdings Co., Ltd ("Hi-Trend") for $800,000. Hi-Trend was
established in the PRC and engages in developing and manufacturing of integrated
circuits and chips. Actions made an additional $202,000 investment and its
ownership was subsequently diluted to 9%. The carrying value of Hi-Trend was
$1.1 million as of December 31, 2014. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>22.</I> </TD>
    <TD>
      <P align=justify><I>Who owns the other 91% of Hi-Trend?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">23. </TD>
    <TD>
      <P align=justify><I>Why is this minority investment in the best interest
      of shareholders?</I></P></TD></TR></TABLE>
<P align=justify><B><U>Grand Choice Investment Limited</U></B><B> </B></P>
<P align=justify>In February 2010, Actions purchased a 20% <I>minority</I>
interest in Grand Choice Investment Limited ("Grand Choice") for $600,000. Grand
Choice is a private company established in February 2010 which designs and
manufactures software and hardware for electronic books. In December 2010,
Actions invested another $600,000 to maintain its 20% interest, and in March and
April 2011, Actions' ownership was diluted to 15% and 12%, respectively, due to
additional capital injection from other investors. In September 2012, Actions
invested yet another $1.5 million in Grand Choice, increasing its total
investment to $2.7 million and ownership to 19%. The carrying value of Grand
Choice is only $819,000 as of December 31, 2014, a 70% loss on investment. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>24.</I> </TD>
    <TD>
      <P align=justify><I>Who owns the other 81% of Grand Choice?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>25.</I> </TD>
    <TD>
      <P align=justify><I>Why is this minority investment that has resulted in a
      70% loss in the best interest of shareholders?</I></P></TD></TR></TABLE>
<br>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<IMG
src="exhibit99-1x2x1.jpg"
border=0 width="169" height="67">&nbsp;<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=right>May 14, 2015 </TD></TR>
  <TR vAlign=top>
    <TD align=right>Page 7 </TD></TR></TABLE>
<P align=justify><B><U>OCTT Asia Limited</U></B><B> </B></P>
<P align=justify>In January 2011, Actions invested $13.7 million in OCTT Asia
  Limited ("OCTT"), a private equity fund incorporated in Mauritius for the stated
  purpose of investing in fabless semiconductor design companies in Taiwan that
  would provide M&amp;A opportunities for the Company. Of the $70 million managed
  by OCTT, $30.6 million was invested in Realtek Semiconductor Corporation, whose
  Chairman and substantial owner is Actions Board member Mr. Yeh. Moreover, in
  your June 11, 2014 letter to shareholders you stated, "Our investment in the
  private equity fund OCTT Holding Co., Ltd. has been financially rewarding"; yet
  the December 31, 2014 carrying value of the OCTT is unchanged from Actions&#146;
  original 2011 investment. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>26.</I> </TD>
    <TD>
      <P align=justify><I>Who owns and manages OCTT?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>27.</I> </TD>
    <TD>
      <P align=justify><I>How is OCTT's investment in Realtek consistent with
      Actions' stated purpose of investing in OCTT?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>28.</I> </TD>
    <TD>
      <P align=justify><I>With no investment appreciation, how is the investment
      in OCTT financially rewarding for shareholders?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>29.</I> </TD>
    <TD>
      <P align=justify><I>Why is this minority investment in OCTT in the best
      interests of Actions shareholders?</I></P></TD></TR></TABLE>
<P align=justify><B><U>Shanghai Real Estate Project</U></B><B> </B></P>
<P align=justify>In November 2014, Actions announced that it invested $10
million for a 40%<I> minority</I> stake in Shanghai real estate, which the CEO
of Actions stated was &#147;not the core business of Actions Semiconductor.&#148; Yet,
just one month later, in a Form 6-K filed with the U.S. Securities and Exchange
Commission on December 9, 2014, Mr. Lee described cash as so "scarce" that the
Company would not be using it "to buy back shares and, by so doing, limiting our
operating flexibility and ability to act quickly, risk[ing] putting the Company
at a competitive disadvantage and serv[ing] shareholders poorly." </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>30.</I> </TD>
    <TD>
      <P align=justify><I>How is a $10 million minority real estate investment
      more attractive than repurchasing $10 million of additional Company stock
      at $2.50/share and below, when the Company's liquidation value is over
      $3.30/share?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>31.</I> </TD>
    <TD>
      <P align=justify><I>Who owns and controls the other 60% of this Shanghai
      real estate project?</I></P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%"><I>32.</I> </TD>
    <TD>
      <P align=justify><I>Why is this minority investment in real estate in the
      best interests of Actions shareholders?</I></P></TD></TR></TABLE>
<P align=justify>We believe these decisions conflict directly with the Company&#146;s
Corporate Governance Guidelines transcribed below: </P>
<P align=justify>&#147;Transactions with Directors and their Affiliates: </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_8></A>
<IMG
src="exhibit99-1x2x1.jpg"
border=0 width="169" height="67">&nbsp;<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=right>May 14, 2015 </TD></TR>
  <TR vAlign=top>
    <TD align=right>Page 8 </TD></TR></TABLE>
<P align=justify>Except for employment arrangements with the CEO and other
management directors, <B><U>the</U></B><B> </B><B><U>Company does not engage in
transactions with directors or their affiliates if a transaction</U></B><B>
</B><B><U>would cast into doubt the independence of a director, would present
the appearance of a</U></B><B> </B><B><U>conflict of interest, or is otherwise
prohibited by law, rule or regulation</U></B>. This includes, directly or
indirectly, any extension, maintenance or renewal of an extension of credit to
any director or member of management of the Company. This prohibition also
includes significant business dealings with directors or their affiliates,
substantial charitable contributions to organizations in which a director is
affiliated, and consulting contracts with, or other indirect forms of
compensation to, a director. The Board will conduct an appropriate review of all
related party transactions on an ongoing basis.&#148; &#150; Page 3, Paragraph 3, Actions
Semiconductor &#147;Corporate Governance Guidelines&#148; </P>
<P align=justify>We are profoundly concerned about the conflicts of interest
among the Board of Directors at Actions and by the accelerating pace of
extraordinary destruction in shareholder value of our Company and we demand
answers to the questions contained in this letter. We remain resolute in
correcting this situation and adamant that you follow through with your
commitment to support the nomination of our two directors. The disproportionate
research and development expenditure must be reduced immediately and the company
should be sold to better custodians of capital. </P>
<P align=justify>For over eight long and painful years, Accretive remained a
patient and supportive long-term investor in Actions, hoping that its Board of
Directors would act in the best interests of shareholders. You have failed us
and all of our fellow shareholders, and we are determined to stop the Board from
destroying additional value of our assets at Actions Semiconductor. </P>
<P align=justify>ACCRETIVE CAPITAL MANAGEMENT, LLC </P>
<P align=justify>Regards, </P>
<P align=justify>Richard E. Fearon, Jr. <BR>Managing Partner </P>
<P align=justify><B><U>About Accretive Capital Partners:</U></B><B>
<BR></B>Accretive Capital Partners is an investment fund focused on value
investing in small and micro-cap public companies in which its active
partnership with management may help to build and unlock shareholder value. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left colSpan=2>With inquiries please contact: </TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2>Accretive Capital Management, LLC </TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2>16 Wall Street, 2nd Floor </TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2>Madison, CT 06443 </TD></TR>
  <TR vAlign=top>
    <TD align=left >email: </TD>
    <TD align=left width="90%">info@accretivecapital.com </TD></TR>
  <TR vAlign=top>
    <TD align=left >website: </TD>
    <TD align=left width="90%">www.accretivecapital.com </TD></TR>
  <TR vAlign=top>
    <TD align=left >phone: </TD>
    <TD align=left width="90%">203.794.6360 </TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>
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