AIM Aimia Inc

TORONTO, May 29, 2024 /CNW/ - Aimia Inc. (TSX: AIM) announced today that it has received $32.9 million in cash related to the earn-out associated with the sale of its 48.9 percent stake in PLM Loyalty to Aeromexico in 2022.

"Receiving the earn-out proceeds from the PLM transaction provides additional liquidity to return capital to our shareholders in line with of our recently announced strategic direction," said Tom Finke, Aimia's Executive Chairman. "We will now proceed with the planned launch of a normal course issuer bid with an amount and timeline to be finalized pending appropriate approvals."

Aimia's sale of its minority interest in PLM Loyalty for $537 million closed in July 2022.  Proceeds from the transaction were used by the Company to launch a normal course issuer bid in 2002 and complete the acquisitions of its core businesses, Bozzetto Group and Cortland International, in 2023.

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.

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SOURCE Aimia Inc.