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ACL Semiconductors Inc. Provides Results of 2012 Annual Meeting of Shareholders

HONG KONG, Nov. 21, 2012 /PRNewswire/ -- ACL Semiconductors Inc. (ACLO.OB) ("ACL"), an integrated China-based designer, manufacturer and distributor of advanced technologies spanning smartphone and semiconductor components, provided results from 2012 Annual Meeting of Shareholders held on November 16, 2012 at the Company's headquarters in Hong Kong. 

The results of the meeting are as follows:

  • Election of Chung-Lun Yang, Kenneth Lap Yin Chan, Man Sing Lai, Ho Man Yeung, Wing Sun Leung, and Ben Wong as directors to serve until the 2013 Annual Meeting of Shareholders.  Mr. Yang received 27,322,798 votes and 101,202 votes were withheld.  For the remaining directors, each received 27,331,198 votes and 92,802 votes were withheld.
  • Received 29,831,167 votes in favor of approval of the amendment to the certificate of incorporation to change the Company's corporate name to USmart Mobile Device Inc.

About ACL Semiconductors Inc.

ACL Semiconductors is an integrated China-based designer, manufacturer and distributor of advanced technologies spanning smartphone and semiconductor components.  Through the September 2012 acquisition of USmart Electronic Products Limited, ACL has become a one-stop solution provider of smartphone components serving OEM customers spanning local China mobile phone companies and established telecom carriers.  Following the formation of the ATMD joint venture with Tomen Devices in April 2012 and the contribution of ACL's distribution network for Samsung products to the joint venture, ACL has retained a 30% stake in ATMD whose business is focused on supplying Samsung semiconductors and LCD products in Greater China.

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, the process of the new joint venture with Tomen, general acceptance of the company's products and technologies, competitive factors, timing, and other risks described in the company's SEC reports and filings.

Investor Contacts:

Kun Lin Lee

Stephanie Carrington     

Chief Financial Officer

The Ruth Group

ACL Semiconductors Inc.

+1-646-536-7017

+1-408-981-9363

scarrington@theruthgroup.com

+852-3666-9939


klee@atlantic.com.hk


SOURCE ACL Semiconductors Inc.

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