Shareholders advised to take no action at this
time
TORONTO, Oct. 4, 2023
/CNW/ - Aimia Inc. (TSX: AIM) ("Aimia" or the "Company") today
acknowledges it has received notice from Mithaq Capital SPC
("Mithaq") confirming its intention to commence an offer to acquire
all issued and outstanding shares for C$3.66 per share (the "Proposed Offer"). Aimia is
currently suing Mithaq for various breaches of the Securities
Act (Ontario). The trial is
scheduled to begin on January 8,
2024.
The top priority of Aimia's Board of Directors (the "Board") is
to ensure that the Company delivers long-term value to
stakeholders. When it is received, the Board will consider the
Proposed Offer, weigh it against other options to enhance value
including options already under consideration, and consult with its
legal and financial advisors. The Board will provide Shareholders
with any recommendation promptly and in accordance with securities
law.
"It is the Board's duty to evaluate all bona fide
takeover bids" said Karen Basian,
Interim Chair of the Board of Aimia. "Shareholders can rest assured
that we take this duty seriously and will rigorously evaluate the
Proposed Offer once it is received and make a recommendation
consistent with our mandate to consider all reasonable stakeholder
interests and maximize value."
Shareholders with questions are encouraged to call Aimia's
strategic shareholder services advisor, Kingsdale Advisors, at
1-800-495-6389 or contactus@kingsdaleadvisors.com
Advisors
Kingsdale Advisors is acting as strategic shareholder advisor
and communications advisor to Aimia. Norton Rose Fulbright Canada
LLP is acting as legal counsel to Aimia.
About Aimia
Aimia Inc. is a holding company that makes long-term investments
in private and public businesses through controlling or minority
stakes. We target companies with durable economic advantages
evidenced by a track record of substantial free cash flow
generation over complete business cycles, strong growth prospects,
and guided by strong, experienced management teams. Headquartered
in Toronto, Canada, Aimia is
positioned to invest in any sector, wherever a suitable opportunity
can be identified worldwide. In addition, we seek investments that
may efficiently utilize the Company's operating and capital loss
carry-forwards to further enhance stakeholder value.
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 or 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, the consideration and evaluation
of a Proposed Offer, if made, and any recommendation with respect
to same. 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. While Aimia considers these factors, expectations
and assumptions to be reasonable, actual events or results could
differ materially from the results, predictions, forecasts,
conclusions or projections expressed or implied in the
forward-looking statements. 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
Discussion and Analysis and Annual Information Form, each of which
have been or will be filed on SEDAR+ and can be accessed at
www.sedarplus.ca. Aimia cautions that the list of risk factors
included in such Management Discussion and Analysis is not
exhaustive. 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.