Action Semiconductors (ANR) – Tender Offer – 12.5% upside

Current Price – $2.4

Offer Price – $2.5 - $2.7

Upside – 12.5.% (if the upper pricing limit is used)

Expiration date – 18 September 2014

There is no provision for odd-lots

SEC Filling

Summary:

Actions Semiconductor Co is offering to purchase for cash up to 60,000,000 of its ordinary shares, $0.000001 par value per share (including Shares represented by American Depositary Shares (the “ADSs”)), at a purchase price not greater than $7/15 per Share (or $2.80 per ADS) nor less than $5/12 per Share (or $2.50 per ADS), net to the seller in cash, less any applicable withholding taxes and, in the case of ADSs, less a cancellation fee of $0.05 per ADS.

If the Offer is fully subscribed we will repurchase 60,000,000 Shares (including Shares represented by ADS), which would represent approximately 14.6% of our issued and outstanding Shares (including Shares represented by ADSs) as of August 10, 2014.

Proration:

In the event that the Offer is oversubscribed, securities properly tendered prior to the Expiration Date will be subject to proration.

Source of Funds:

We expect to fund the purchase of securities in the Offer with our currently available cash and cash equivalents.