TORONTO, July 22,
2024 /CNW/ - As previously announced, Aimia Inc.
(TSX: AIM) ("Aimia" or the "Company") entered into an
agreement with Milkwood Capital (UK) Ltd. ("Milkwood") on
July 16, 2024 to purchase for
cancellation 1,300,000 of its common shares owned by Milkwood
(the "Repurchased Shares") for a price per Repurchased
Share corresponding to the lesser of (i) $2.55 (representing
96% of the volume-weighted average price of the common shares of
Aimia on the Toronto Stock Exchange (the "TSX") for the 20
trading days ended on July 16, 2024) and (ii) $2.53
(representing 96% of the volume-weighted average price of the
common shares of Aimia on the TSX for the 3 trading days ended on
July 19, 2024) the date of closing.
The transaction was completed following the close of markets on
July 19, 2024 and the 1,300,000
Repurchased Shares were repurchased at a price of $2.53 per Repurchased Share, representing an
aggregate repurchase price of $3,289,000. The repurchase counts towards the
7,009,622 common shares Aimia is entitled to purchase for
cancellation under its normal course issuer bid during the 12-month
period beginning on June 6, 2024 and
ending June 5, 2025.
About Aimia
Aimia Inc. (TSX: AIM) is a diversified company focused on
unlocking the growth potential of its two global businesses,
Bozzetto, a sustainable specialty chemicals company, and Cortland
International, a rope and netting solutions company. Headquartered
in Toronto, Aimia's priorities
include monetizing its non-core investments, returning capital to
its shareholders, and efficiently utilizing its loss carry-forwards
to create shareholder value.
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 Aimia's 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 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, 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 the Company can be found in Aimia's 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.sedarplus.ca. Except as required by applicable
securities laws, forward-looking statements speak only as of the
date on which they are made and Aimia disclaims any intention and
assumes 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.