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APP

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Share Name Share Symbol Market Type
TSXV:APP TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Uni-Select Inc. Announces Renewal of its Normal Course Issuer Bid

31/07/2014 12:42pm

Marketwired Canada


Uni-Select Inc. ("Uni-Select") (TSX:UNS) announces that the Board of Directors
approved the renewal of its normal course issuer bid (the "NCIB") to repurchase
some of its outstanding common shares through the facilities of the Toronto
Stock Exchange ("TSX") for a period of twelve months ending August 10, 2015. Up
to 250,000 common shares, representing approximately 1.18% of the 21,257,969
common shares of Uni-Select issued and outstanding on July 30, 2014, may be
purchased under the NCIB. The average daily trading volume for the six months
prior to July 1, 2014 is 22,862 common shares. Daily repurchases will be limited
to 5,715 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 on August 11, 2014 and will end on the earlier of
August 10, 2015 or the date on which Uni-Select will have either acquired the
maximum number of common shares or otherwise decided not to make any further
repurchases. All the common shares acquired under the NCIB 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
250,000 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
twelve months ending on July 30, 2014, Uni-Select has repurchased 137,788 common
shares at a weighted average price of $24.12 per share under its normal course
issuer bid which commenced on August 9, 2013 and will expire on August 8, 2014.


Uni-Select also announces that it will enter into an automatic purchase plan
agreement ("APP") with a broker to allow for the purchase of its common shares
under the NCIB at times when Uni-Select normally would not be active in the
market due to regulatory restrictions or self-imposed trading blackout periods.
Before entering into a blackout period, Uni-Select may, but is not required to,
instruct the designated broker to make purchases under the NCIB in accordance
with the terms of the APP. Such purchases will be determined by the broker in
its sole discretion based on parameters established by Uni-Select prior to the
blackout period in accordance with TSX rules and the terms of the APP. The terms
of the APP will be pre-cleared by the TSX. Outside of these pre-determined
blackout periods, common shares will be purchased in accordance with
Management's discretion.


About Uni-Select 

Founded in 1968, Uni-Select is a major distributor of replacement parts,
equipment, tools, accessories, paint and related products for motor vehicles in
North America. Leader in the Canadian industry, Uni-Select is the 5th largest
distributor and the leading independent distributor of automotive paint and
related products in North America. With its 5,500 employees, Uni-Select
efficiently services a wide network of independent installers and wholesalers,
including over 6,600 which operate under one of its banner programs in North
America. Uni-Select is headquartered in Boucherville, QC and its shares are
traded on the Toronto Stock Exchange (TSX) under the symbol UNS.


The information provided in this press release includes some forward-looking
information, which includes certain risks and uncertainties which may cause the
final results to be significantly different from those listed or implied within
this news release. For additional information with respect to risks and
uncertainties, refer to the Annual Report filed by Uni-Select with the Canadian
securities commissions. The forward-looking information contained herein is made
as of the date of this press release, and Uni-Select does not undertake to
publicly update such forward-looking information to reflect new information,
subsequent or otherwise, unless required by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Source:
UNI-SELECT INC.
www.uniselect.com


Contact:
Karine Vachon
Investor Relations and Communications Manager
(450) 641-6972
investorrelations@uniselect.com

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