NEWS PRESS RELEASE
FOR IMMEDIATE RELEASE Thursday, January 5, 2012
SMTC Adopts Shareholder Friendly Policies, Announces Standstill Agreement with Red Oak Partners, LLCTORONTO, CANADA - January 5, 2011 - SMTC Corporation (Nasdaq:SMTX- News ) (TSX: SMX.TO- News) ("SMTC"), a recognized global electronics manufacturing services provider, today announced changes to its Charter and Bylaws aimed at improving shareholder rights, and an agreement with its largest shareholder, Red Oak Partners, LLC to limit its voting rights in certain circumstances.
Charter and Bylaw Changes
After retaining a leading provider of shareholder corporate governance solutions to recommend ways to make its policies more shareholder friendly, SMTC's Board of Directors adopted changes to its Charter and Bylaws including: