Auto Service World
News   May 12, 2011   by Auto Service World

Common Share Buy Back Program of Uni-Select Inc. (May 12, 2011)

Uni-Select Inc. has announced that the Toronto Stock Exchange has accepted its notice of intention to make a normal course issuer bid to repurchase some of its outstanding common shares through the facilities of the TSX for a period of twelve months ending May 15, 2012.
Up to 200,000 common shares, representing approximately 1% of the 21,691,387 common shares of Uni-Select issued and outstanding on May 10, 2011, may be purchased under the normal course issuer bid. Daily repurchases will be limited to 4,368 common shares, other than block purchase exemptions. The common shares will be repurchased by Uni-Select for cancellation.
The number of common shares that Uni-Select intends to repurchase and the time of such repurchases will be determined by Uni-Select, at its discretion. The repurchase period will begin May 16, 2011 and will end on the earlier of May 15, 2012 or the date on which Uni-Select will have either acquired the maximum number of common shares pursuant to the Notice or otherwise decided not to make any further repurchases. All the common shares acquired under the bid will be repurchased at their market price at the time of acquisition.
The Board of Directors of Uni-Select has concluded that the repurchase of up to 200,000 common shares is a desirable use of funds for Uni-Select and, therefore, would be in the best interests of Uni-Select and its shareholders. During the last twelve months, Uni-Select has repurchased 14,700 common shares at a weighted average price of CDN$25.79 per share under its normal course issuer bid which commenced on December 21, 2009 and expired on December 20, 2010.

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