RONA Calls Annual Meeting of Shareholders
BOUCHERVILLE, QUEBEC -- (Marketwire) -- 11/14/12 -- RONA inc. ("RONA"
or the "Corporation") (TSX:RON)(TSX:RON.PR.A), the largest Canadian
distributor and retailer of hardware, renovation and gardening
products, announced today that its Board of Directors has called its
upcoming annual meeting of shareholders to be held on May 14, 2013 at
the head office of the Corporation located at 220 Chemin du Tremblay,
Boucherville, Quebec. The purpose of the meeting is to receive the
financial statements of the Corporation for the current fiscal year,
elect directors and appoint auditors for the ensuing year and
transact such other business as may properly come before the meeting.
The record date for the purposes of determining shareholders entitled
to receive notice of and vote at the meeting will be March 20, 2013.
In early September 2012, in connection with its upcoming annual
shareholders' meeting the Corporation's Nominating and Governance
Committee retained the services of Korn/Ferry International, an
executive search firm, to assist it in identifying potential
candidates as directors, in addition to directors who will be
nominated for re-election.
RONA acknowledges the issuance of a press release by Invesco Canada
Ltd. announcing an intention to requisition a meeting of shareholders
of RONA for the purpose of removing RONA's current directors and
electing new directors in their place. As of the time of issuance of
RONA's press release, RONA had not received a meeting requisition
from Invesco or any other shareholder. Invesco contacted RONA in the
last few days requesting a meeting with RONA's Chairman, which
Invesco and RONA had agreed to hold later this week. Invesco
indicated earlier today that it no longer wanted to hold this meeting
and issued its press release.
RONA is the largest Canadian distributor and retailer of hardware,
home renovation and gardening products. The Corporation operates a
network of over 800 corporate, franchise and affiliate retail stores
of various sizes and formats under several banners, and a network of
14 hardware and construction materials distribution centres which are
flexible and perfectly adapted to the diverse needs of its clientele.
RONA is also a leader in the specialized pl
umbing and HVAC market,
primarily serving commercial and professional customers with a
network of close to 60 sales outlets and four distribution centres
across the country.
In total, RONA supplies nearly 1,500 sales outlets, of which over 800
are under one of its banners, as well as close to 600 clients,
independent dealers, in its distribution network. With close to
30,000 employees working under its family of banners in every region
of Canada, the RONA store network generates consolidated sales of
$4.8 billion and over $6 billion taking into account the total impact
of the retail sales of franchise dealers, affiliates and other
independent dealers who buy their supplies at RONA. For more
information, please visit www.rona.ca.
Valerie Lamarre, Senior Advisor
Communications and Public Affairs
514-599-5900, ext. 5271
Senior Director, Investor Relations
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