Baker Street Capital Closes Entire Unilens Stake in Buyback

Baker Street Capital, Unilens Vision: In an amended 13D filed moments ago with the SEC, activist Baker Street Capital reported that it has closed its position in Unilens Vision (OTC:UVIC). The contract lens maker reported last week that it was initiating a stock buyback worth 26% of its company. Baker Street’s stake represented a little over $3 million in the micro-cap.

In a statement, Unilens Vision disclosed that it has repurchased 618,522 shares from Baker Street Capital, which was the largest outside shareholder of the company. The price offered in the buyback was $4.97 per share. At the same time, Unilens stated that one of the directors of the company Vadim Perelman resigned. Perelman was a founder, managing partner and Chief Investment Officer at Baker Street.

Unilens posted a net income of $128,960 in the previous quarter, which shows a 46% decline on a year-over-year basis. Diluted EPS of the company fell to $0.05, versus $0.10 in the same period of last year.

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