Accretive Capital Partners Commends Actions Semiconductor For Dutch Auction Tender Offer; Demands Additional Steps Followed By Immediate Sale Of Company
- Authorize another Dutch Auction tender offer for no less than $75 million at prices up to the company’s tangible book value of approximately $3.40/share.
- Retire all repurchased shares so that shareholders realize the value of the tender offer, as done in the September 26, 2014 self tender.
- Correct the blatant misuse of company assets resulting from direct conflicts of interest among certain Board members.
- Reduce the disproportionate research and development expenditure.
- Sell the company immediately thereafter.