Ms. Valerie Gonzalo reports
RONA ANNOUNCES NORMAL COURSE ISSUER BID
Rona Inc. has authorized the corporation to purchase in the normal course of its activities, from Nov. 18, 2015, to Nov. 17, 2016, up to 8,496,028 of its common shares. This issuer bid program totallizes 10 per cent of Rona's 84,960,285-share public float or 7.95 per cent of its 106,904,501 common shares issued and outstanding on Nov. 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 per cent 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 12-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).
We seek Safe Harbor.
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