Business
COMMON SHARE BUY BACK PROGRAM OF RICHELIEU HARDWARE LTD.
COMMON SHARE BUY BACK PROGRAM OF RICHELIEU HARDWARE LTD.
About this update from Richelieu Hardware Ltd
[{"type":"text","content":"\n\n\n\n Dec. 2, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nMONTREAL, Dec. 2 /CNW Telbec/ - Richelieu Hardware Ltd. (TSX: RCH) ("Richelieu" or the "Company") announces that the Toronto Stock Exchange has accepted its notice of\n intention to make a "normal course issuer bid" to purchase up to of\n 1 056 760 common shares, representing 5% of the 21 135 209 outstanding\n common shares as at November 30, 2010 through the facilities of such\n exchange. The Company can only buy a maximum of 3 510 shares on a daily\n basis (per market day).\n\n\nThe number of shares that the Company intends to purchase and the time\n of such purchases will be determined by the Company, in its discretion.\n The purchase period will begin December 6th, 2010, and end on the earlier of December 5th, 2011, or the date on which the Company will have either acquired the\n above-stated maximum number of shares or otherwise decided not to make\n any further purchases. All the shares purchased will be cancelled by\n the Company.\n\n\nThe Board of Directors of Richelieu has concluded that the purchase of\n 1 056 760 common shares represents an appropriate use of the Company's\n corporate funds. During the period of December 3, 2009, to November 30,\n 2010, the Company purchased 696 000 shares at a weighted average price\n of $26.02 per share.\n\n\nTo the best knowledge of the Company, after reasonable inquiry, no\n director, senior officer or any of their associ...