TORONTO, June 7, 2023
/CNW/ - Aimia Inc. (TSX: AIM) ("Aimia") announces that
its board of directors (the "Board") has approved the
adoption of a shareholder rights plan (the "Shareholder Rights
Plan") pursuant to a shareholder rights plan agreement entered
into with TSX Trust Company, as Rights Agent, dated June
7, 2023 (the "Effective Date").
The Board adopted the Shareholder Rights Plan in response to
Mithaq Capital SPC's ("Mithaq") continued attempts to
acquire effective control of Aimia through share acquisitions
(i.e., a creeping bid), despite Aimia's ongoing legal proceedings
against Mithaq requesting, among other things, an interlocutory
injunction preventing Mithaq from acquiring or disposing Aimia's
shares.
The purpose of the Shareholder Rights Plan is to ensure that all
shareholders are treated fairly in connection with any offer to
acquire the outstanding common shares of Aimia and that the Board
has the opportunity to identify, solicit, develop and negotiate
value-enhancing alternatives to any unsolicited take-over bid.
The Shareholder Rights Plan is subject to the acceptance of the
Toronto Stock Exchange. While the Shareholder Rights Plan is
effective as of the Effective Date, it is subject to ratification
of Aimia's shareholders at a meeting of shareholders to be held
within six months (the "Meeting"), failing which it will
terminate. If ratified by shareholders of Aimia at the Meeting, the
Shareholder Rights Plan will remain in effect for a term of three
years following such ratification. The Shareholder Rights Plan is
similar to rights plans adopted by other Canadian companies and
ratified by their shareholders.
A summary of the principal terms and conditions of the
Shareholder Rights Plan will be set out in Aimia's Management
Information Circular to be mailed to shareholders prior to the
Meeting. A copy of the complete Shareholder Rights Plan will be
filed on SEDAR.
About Aimia
Aimia Inc. (TSX: AIM) is a holding company with a focus on
making long-term investments in private and public companies, on a
global basis, through controlling or minority stakes. The company
owns a portfolio of investments which include: 100% ownership of
Tufropes, a global leader in the manufacturing of high-performance
synthetic fiber ropes and netting solutions for global aquaculture,
maritime, and other various industrial customers, 94% ownership of
Bozzetto Group, one of the world's largest ESG-focused providers of
specialty sustainable chemicals, a 10.85% stake in Clear Media
Limited, one of the largest outdoor advertising firms in
China, a 48.9% equity stake in
Kognitiv, a global SaaS company inspiring customer loyalty through
data-driven personalization, as well as an 11.9% equity stake in
TRADE X, a global B2B cross-border automotive trading platform.
For more information about Aimia, visit www.aimia.com.
Forward-Looking
Statements
This press release contains statements that constitute
"forward-looking information" within the meaning of Canadian
securities laws ("forward-looking statements"), which are based
upon our current expectations, estimates, projections, assumptions
and beliefs. All information that is not clearly historical in
nature may constitute forward-looking statements. Forward-looking
statements are typically identified by the use of terms such
phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "project", "will",
"would" and "should", and similar terms and phrases, including
references to assumptions.
Forward-looking statements in this press release include, but
are not limited to, statements with respect to the implementation
of, and potential effects of implementing, the Shareholder Rights
Plan. Forward-looking statements, by their nature, are based
on assumptions and are subject to known and unknown risks and
uncertainties, both general and specific, that contribute to the
possibility that the forward-looking statement will not occur. The
forward-looking statements in this press release speak only as of
the date hereof and reflect several material factors, expectations
and assumptions. Undue reliance should not be placed on any
predictions or forward-looking statements as these may be affected
by, among other things, changing external events and general
uncertainties of the business. A discussion of the material risks
applicable to us can be found in our current Management's
Discussion and Analysis and Annual Information Form, each of which
have been or will be filed on SEDAR and can be accessed at
www.sedar.com. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made and we disclaim any intention and assume no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise.
SOURCE Aimia Inc.