HONG KONG -- Surface Mount Technology  (Holdings) Ltd. has entered a conditional agreement with a London-based private investment company that will inject HK$30 million ($3.9 million) into the besieged EMS company.

As of Oct. 31, Redbud  (Oversea) Holding  Ltd. has agreed to subscribe for 150 million new shares of SMT Holdings at HK$0.20 per share. The deal would make Redbud a 57.1% owner of the total number of issued shares in the electronics manufacturing services company. Redbud would also own 84.5% of the restructured share capital of the company upon completion of a planned reorganization.

SMT also has embarked on a corporate reorganization, which includes Redbud's cash infusion, refinancing with certain credit holders, share consolidation
and capital  reduction.

SMT Holdings is a Top 50 EMS company with 2010 sales of over $285 million.

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