Thank you very much for your replay. To ensure I do understand correctly I would like to clarify. I have found in acmethemes/hooks/excerpts.php the following lines:

if ( !function_exists(‘acmeblog_excerpt_more’) ) :
function acmeblog_excerpt_more($more) {
return ‘…’;
}

You are saying to replace the given code. Does that mean the following?
if ( !function_exists(‘acmeblog_excerpt_more’) ) :
<p>“>Read More</p>
}