LAVAL, QC, May 29, 2012 /CNW Telbec/ - Hart Stores Inc. (TSXV: HIS) announces that the Autorité des marchés financiers ("AMF") today granted the Corporation a management cease trade order following its earlier announcement last week that filing of its audited financial statements for the fiscal year ended January 29, 2012 would be delayed.
The order granted by the AMF, which applies only to the officers and directors of the Corporation, imposes restrictions on all trading activities in the securities of the Corporation. The order will be in place until the Corporation files its audited financial statements for the fiscal year ended January 29, 2012. The order does not affect trading in the Corporation's securities by other parties.
The Company expects to file its audited financial statements for the fiscal year ended January 29, 2012 and the related management's discussion and analysis before July 30, 2012. Hart Stores confirms that it intends to provide Default Status Reports until its audited financial statements are filed.
About Hart Stores Inc.:
Hart Stores Inc. operates a network of 60 mid-sized department stores located in secondary and tertiary markets in Eastern Canada, where the Company has established a dominant position in many of the communities that it serves. The stores offer an extensive and differentiated selection of national and exclusive fashion apparel brands as well as family footwear, home furnishings, electronics, appliances, giftware, toys and seasonal goods.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Hart Stores Inc.
Mr. Robert Farah
President and COO
(450) 661-4155
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