TORONTO, Aug. 20, 2012 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX) ("SMTC"), a recognized global electronics manufacturing services provider, announces the process for consideration of exemptions to its Tax Benefits Preservation Rights Plan ("NOL Rights Plan") ownership limits.
In response to shareholder requests for exemptions to SMTC's NOL Rights Plan ownership limitations, SMTC's Board of Directors has set an August 31, 2012 5:00PM EDT deadline for stockholders interested in exceeding the ownership limits set by the plan. The exemption may apply to those SMTC stockholders who are holders of five percent or greater of SMTC's outstanding shares of common stock, or would become holders of five percent or greater of SMTC's outstanding shares as a result of a purchase.
To be eligible for exemption consideration, requests must be received in writing by no later than August 31, 5:00PM EDT, and must state:
- The number of shares that the stockholder currently owns and the number of shares such stockholder desires to purchase under the exemption
- The price under which the stockholder would be willing to purchase shares
- The time period under which the stockholder wishes to purchase the shares
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