January 21, 2010 (FinancialWire) — Unilens Vision Inc. (OTCBB: UVICF) (TSX Venture: UVI) said it has completed a Stock Purchase Agreement launched in November in which it repurchased 2,188,861 shares of its common stock, representing around 48% of it’s outstanding shares, from its largest shareholder, Uniinvest Holding AG in Liquidation for an aggregate purchase price of US $6,894,912 or $3.15 per share.

The company said it funded the transaction primarily through a draw of US $6.0 million against the $6.9 million five-year term loan facility provided to the company’s wholly owned subsidiary Unilens Corp., USA, by Regions Bank (NYSE: RF).

The loan facility bears a floating interest rate of 30-day LIBOR plus 3.75% with a floor of 4.75%, and is secured by certain assets of the company. The purchase price represents a discount of 25% to the closing price of its common stock in the US of $4.22 on Tuesday January 19, 2010.

Florida-based Unilens Vision develops, licenses, manufactures, distributes and markets contact lenses primarily under the C-Vue brand.

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