RONA inc.
TSX : RON
TSX : RON.PR.A

RONA inc.

November 10, 2015 08:30 ET

RONA Announces Normal Course Issuer Bid

BOUCHERVILLE, QUEBEC--(Marketwired - Nov. 10, 2015) - The Board of Directors of RONA inc. (TSX:RON)(TSX:RON.PR.A) has authorized the Corporation to purchase in the normal course of its activities, from November 18, 2015 to November 17, 2016, up to 8,496,028 of its common shares. This issuer bid program totalises 10% of RONA's 84,960,285 public float or 7.95% of its 106,904,501 common shares issued and outstanding on November 10, 2015. This issuer bid is subject to the approval of the Toronto Stock Exchange.

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 Corporation's common shares was 152,579 common shares on the Toronto Stock Exchange over the last six completed calendar months. Accordingly, since the Corporation is entitled to purchase up to 25% of the average daily trading volume on any trading day, it can purchase 38,144 common shares per day in addition to block trades in accordance with the Toronto Stock Exchange rules.

In the preceding twelve-month period, the Corporation repurchased 9,207,281 common shares for a total consideration of $125.7 million (at a volume weighted average price of $13.65 per share).

Shareholders may obtain a free copy of the documents filed with the Toronto Stock Exchange concerning this bid by writing to the Corporate Secretary of RONA at 220 chemin du Tremblay, Boucherville, Quebec, J4B 8H7.

About RONA

RONA inc. is a major Canadian distributor and retailer of hardware, building materials and home renovation products. The Corporation operates a network of over 500 corporate and independent affiliate stores of complementary formats. With its nine distribution centres, RONA serves its own network as well as many independent affiliated stores operating under different banners, including Ace, for which RONA owns licensing rights and is the exclusive distributor in Canada. With the help of its nearly 24,000 employees, the Corporation generates annual consolidated sales of $4.1 billion. For more information, visit rona.ca.

Forward-looking statements

This Press Release includes "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this Press Release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of the Corporation may constitute forward-looking statements within the meaning of the Canadian securities legislation and regulations. Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements.

For more information on the risks, uncertainties and assumptions that would cause the Corporation's actual results to differ from current expectations, please also refer to the Corporation's public filings available at www.sedar.com and www.rona.ca. In particular, further details and descriptions of these and other factors are disclosed in the MD&A under the "Risks and uncertainties" section.

The Corporation expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.

Contact Information

  • Media
    Valerie Gonzalo
    Communications and Public Affairs
    514-626-6976
    media@rona.ca

    Financial Community
    Andre Lavoie
    Vice President - Finance and Investor Relations
    514-599-5900, ext. 8356
    andre.lavoie@rona.ca