22:03:32 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Rona Inc
Symbol RON
Shares Issued 4,677,863
Close 2016-11-15 C$ 23.96
Market Cap C$ 112,081,597
Recent Sedar Documents

Rona preferred holders approve share sale to Lowe's

2016-11-15 16:43 ET - News Release

Ms. Valerie Gonzalo reports

RONA PREFERRED SHAREHOLDERS APPROVE ARRANGEMENT WITH LOWE'S

Rona Inc. has provided the following update. At a special meeting held today pursuant to the arrangement agreement dated Oct. 6, 2016, the holders of record of the company's cumulative five-year rate-reset Series 6 Class A preferred shares and cumulative floating-rate Series 7 Class A preferred shares have approved the statutory plan of arrangement for the acquisition of the preferred shares by Gestion Lowe's Canada Inc., a wholly owned subsidiary of Lowe's Companies Inc., for $24.00 per preferred share in cash.

The arrangement was approved by 95.19 per cent of the votes cast by the preferred shareholders present in person or represented by proxy at the special meeting.

The completion of the arrangement remains subject to the granting of the final order by the Quebec Superior Court and the satisfaction or waiver of the other customary closing conditions. If court approval is obtained and the other conditions to the completion of the arrangement are satisfied or waived, Rona expects that the arrangement will be completed on or about Nov. 18, 2016.

We seek Safe Harbor.

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