Richelieu Hardware Ltd. announces an Equity Buyback for 1,500,000 shares, representing 2.69% of its issued share capital.
December 21, 2021 at 08:31 am EST
Share
Richelieu Hardware Ltd. (TSX:RCH) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 1,500,000 common shares, representing 2.69% of the issued and outstanding share capital. The repurchased shares will be cancelled. The bid will terminate on December 22, 2022. As of December 14, 2021, the company had 55,841,119 issued and outstanding shares.
Richelieu Hardware Ltd is an importer, manufacturer and distributor of specialty hardware and complementary products. The Companyâs products are targeted to an extensive customer base of kitchen and bathroom cabinet, storage and closet, home furnishing and office furniture manufacturers, residential and commercial woodworkers, door and window, and hardware retailers including renovation superstores. It offers customers a mix of high-end products sourced from manufacturers worldwide. Its product selection consists of over 130,000 different items targeted to a base of more than 110,000 customers who are served by 115 centers in North America -50 distribution centers in Canada, 62 in the United States and three manufacturing plants in Canada, specifically, Les Industries Cedan Inc., Menuiserie des Pins Ltee and USIMM/UNIGRAV, which manufacture a variety of veneer sheets and edge banding products, a broad selection of decorative moldings and components for the window and door industry.
RICHELIEU HARDWARE LTD. 
