Boucherville, Quebec, November 15, 2011 - RONA inc. (“RONA”) (TSX: RON, RON.PR.A) announced today the Reference Yield (as defined below) and range of acceptable Bid Prices (as defined below) of the first offer (“Offer 1”) of its previously announced Offers (as defined below). Offer 1, which is being conducted as a modified “Dutch Auction”, opens for tenders as soon as practicable on the date hereof and will expire at 5:00 p.m., Montreal time, on November 22, 2011, unless extended or earlier terminated by RONA.
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As announced on November 3, 2011, Offer 1 is the first of two successive offers to purchase for cash (collectively, the “Offers”), up to $200,000,000 aggregate principal amount of RONA’s 5.40% Debentures due October 20, 2016 (Unsecured) (the “Debentures”). The terms and conditions of both Offers are set out in the offers to purchase of RONA dated November 3, 2011 (as they may be amended or supplemented from time to time, collectively the “Offer to Purchase”) and the related Letter of Transmittal.
Capitalized terms used and not defined herein have the meanings given to them in the Offer to Purchase.
For more information, please consult the full Press Release.
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 prospects, plans, financial position and business strategy of RONA, the timing for completion of the Offers, and the amount of the costs, fees, expenses and charges relating to the Offers, 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. The forward-looking statements in this Press Release reflect RONA’s expectations as at November 15, 2011, and are subject to change after this date. RONA 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. For more information on the risks, uncertainties and assumptions that would cause RONA’s actual results to differ from current expectations, please also refer to RONA’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 and in the “Risk factors” section of RONA’s current Annual Information Form.
ABOUT RONA
RONA is the largest Canadian distributor and retailer of hardware, home renovation and gardening products. RONA operates a network of close to 950 corporate, franchise and affiliate stores of various sizes and formats. With close to 30,000 employees working under its family of banners in every region of Canada and more than 17 million square feet of retail space, the RONA store network generates over $6 billion in annual retail sales.
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