MONTREAL, Dec. 1 /CNW Telbec/ - Richelieu Hardware Ltd. (TSX: RCH) ("Richelieu" or the "Company") announces that at its last meeting, the Company's Board of Directors temporarily suspended the trading restrictions on insider transactions of Richelieu's shares during the blackout period imposed by the Company's policy on the disclosure of material information and insider trading.
In order to protect shareholder value in the current market context, the Board decided it would be in the best interest of all shareholders that such restrictions be temporarily suspended. The Board confirmed it is not aware of any material information that has not previously been disclosed to the public.
This decision applies only to purchases of shares and shall remain in effect until the next Board meeting.
Richelieu Hardware Ltd. is a leading North American distributor, importer and manufacturer of specialty hardware and complementary products. Its products are targeted to an extensive customer base of kitchen and bathroom cabinet, furniture, and window and door manufacturers plus the residential and commercial woodworking industry, as well as a large customer base of hardware retailers, including renovation superstores. Richelieu offers customers a broad mix of high-end products sourced from manufacturers around the world. Its product selection consists of close to 55,000 different items targeted to a base of over 38,000 customers who are served by 49 centres in North America - 31 distribution centres across Canada, 16 in the United States and two manufacturing plants in Canada, specifically Cedan Industries Inc. which specializes in the manufacture of a wide variety of veneer sheets and edgebanding products, and Menuiserie des Pins Ltee which manufactures components for the window and door industry, a broad selection of mouldings, and various types of tackboards and whiteboards.