RONA INC.
TSX : RON

RONA INC.

June 16, 2010 08:55 ET

RONA Inc.: Normal Course Issuer Bid

BOUCHERVILLE, QUEBEC--(Marketwire - June 16, 2010) - With the approval of the Toronto Stock Exchange, the Board of Directors of RONA inc. (TSX:RON) has authorized the Company to purchase in the normal course of its activities, from June 21, 2010 to June 20, 2011, up to 3,250,000 common shares, representing 2.5% of its 129,936,351 common shares issued and outstanding on June 7, 2010.

Under this issuer bid, the purchases will be made at market prices through the facility of the Toronto Stock Exchange or alternative Canadian trading platforms, in accordance with the requirements of the Toronto Stock Exchange. The common shares thereby purchased will be cancelled.

The average daily trading volume of the Company's common shares was 293,413 on the Toronto Stock Exchange over the last six completed calendar months (the ADTV). Accordingly, since the Company is entitled to purchase up to 25% of the ADTV on any trading day, it can purchase 73,353 common shares per day in addition to block trades in accordance with the Toronto Stock Exchange rules.

The Company will use its normal course issuer bid to eliminate dilutive effect caused by the issuance of common shares when businesses are acquired.

RONA believes that the purchase of its common shares would represent an effective use of its funds and would be in the best interests of the Company and its shareholders.

Shareholders may obtain a free copy of the documents filed with the Exchange concerning this Bid by writing to the Corporate Secretary of RONA.

ABOUT RONA

RONA inc. is the largest Canadian distributor and retailer of hardware, renovation and gardening products. RONA operates a network of close to 700 corporate, franchise and affiliate stores of various sizes and formats. With nearly 30,000 employees working under its family of banners in every region of Canada and more than 16 million square feet of retail space, the RONA store network generates over $6 billion in annual retail sales. Please visit rona.ca.

Contact Information

  • Media: RONA inc.
    Daniel Richard
    Director, Communications and Public Affairs
    514-599-5900 ext. 5751
    daniel.richard@rona.ca
    or
    Financial Community: RONA inc.
    Stephane Milot
    Senior Director, Investor Relations
    514-599-5951
    stephane.milot@rona.ca