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UNITED STATES |
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SECURITIES AND EXCHANGE COMMISSION |
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Washington, D.C. 20549 |
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FORM 8-K |
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CURRENT REPORT |
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Pursuant to 13 OR 15(D) |
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of The Securities Exchange Act of 1934 |
Date of Report (Date of earliest event reported) May 11, 2012
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ACL Semiconductors Inc. |
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(Exact name of registrant as specified in its charter) |
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Delaware |
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000-50140 |
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16-1642709 |
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(State or other jurisdiction |
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(Commission |
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(IRS Employer |
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of incorporation) |
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File Number) |
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Identification No.) |
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Room 1701, 17/F, Tower 1 |
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Enterprise Square, 9 Sheung Yuet Road |
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Kowloon Bay, Kowloon, Hong Kong |
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(Address of principal executive offices) (Zip Code) |
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011-852- 2799-1996 |
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(Registrant’s telephone number, including area code) |
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(Former name or former address, if changed since last report.) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01 |
Other Events |
Other Events
On May 11, 2012, ACL Semiconductors Inc. (the “Company”) issued a press release announcing launch of a 20% stock dividend. A copy of the press release is attached as Exhibit 99.1 hereto.
Exhibits
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Exhibit No |
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Description |
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99.1 |
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Press Release dated May 11, 2012 |
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SIGNATURES |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ACL SEMICONDUCTORS INC. |
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Dated: May 11, 2012 |
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By: |
/s/ Kun-Lin Lee |
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Name: Kun-Lin Lee |
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Title: Chief Financial Officer |
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Exhibit 99.1
ACL Semiconductors Declares 1-for-5 Stock Dividend
Sets record date as close of business on May 14, 2012
Hong Kong, China -May 11, 2012- ACL Semiconductors Inc. (OTC Bulletin Board: ACLO.OB) (“ACL”), a China-based distributor of semiconductor components in Hong Kong and Southern China, today announced that the Board of Directors has approved a 20% stock dividend. The dividend will be payable on May 28, 2012 to shareholders of record at the close of business on May 14, 2012. Fractional shares will be paid in cash, which amount will be calculated by multiplying the fractional share interest by the average closing prices for the 10 trading days ending on (and including) May 23, 2012, the third trading day prior to the Payment Date.
“We deeply appreciate the loyalty of our investors and are compelled to show our gratitude by declaring a one-for-five stock dividend. This move increases the number of shares outstanding and should contribute to greater liquidity and trading of ACL’s stock,” said Mr. Chung-Lun Yang, Chairman and Chief Executive Officer of ACL. “Over the next two months, we expect to close the acquisitions that were previously announced for Superb Sino Holdings Limited, the holding company of Systematic Semiconductor Limited and Jussey Investments Limited, the majority shareholder of USmart Electronic Products Limited, both of which are expected to diversify our business with higher margin components. We are confident that these growth drivers will benefit both ACL and our shareholders by ensuring our Company thrives in a constantly changing business environment.”
About ACL Semiconductors Inc.
ACL Semiconductors Inc. is a China-based distributor of semiconductor components in Hong Kong and
Southern China. Starting April 1, 2012, ACL is distributing Samsung
semiconductor products through ATMD, a newly established joint venture with
Tomen Devices. ACL has announced two pending acquisitions that will drive ACL’s
product diversification to higher margin electronic components products.
Semiconductor products are used in everything from mobile phones, digital
cameras and laptop computers to MP3 players and Wi-Fi products. For more
information about ACL Semiconductors Inc. please visit ACL Semiconductors Inc.'
corporate website at http://www.acl-semicon.com.
Forward-Looking Statements
This information contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. In
particular, when used in the preceding discussion, the words “plan,” “confident
that,” “believe,” “scheduled,” “expect,” or “intend to,” and similar
conditional expressions are intended to identify forward-looking statements
within the meaning of the Act and are subject to the safe harbor created by the
Act. Such statements are subject to certain risks and uncertainties and actual
results could differ materially from those expressed in any of the
forward-looking statements. Such risks and uncertainties include, but are not
limited to, market conditions, the availability of components and successful
production of the company's products, general acceptance of the company's
products and technologies, competitive factors, timing, and other risks
described in the company's SEC reports and filings.
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Investor Contacts: |
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Kun Lin Lee |
Stephanie Carrington / Chris Genualdi |
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Chief Financial Officer |
The Ruth Group |
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ACL Semiconductors Inc. |
+1-646-536-7017/7032 |
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+1-408-981-9363 |
scarrington@theruthgroup.com |
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+852-3666-9939 |
cgenualdi@theruthgroup.com |
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klee@atlantic.com.hk |
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