AIM Aimia Inc

TORONTO, June 26, 2024 /CNW/ - Aimia Inc. (TSX: AIM) ("Aimia" or the "Company") today announced that all seven of the nominees proposed for election to its board of directors listed in its management information circular dated May 27, 2024 were elected at the Company's annual general meeting of shareholders held today in Toronto. The meeting was contested, with an alternative slate of six dissident nominees being proposed at the meeting. A total of 81,354,667 common shares, or 81.62% of Aimia's issued and outstanding common shares, were represented in person or proxy at the meeting.

Detailed results of the vote for each director nominee are set out below.

"On behalf of Aimia's Board of Directors, I would like to thank shareholders for their support and endorsement of our strategy to unlock value for all investors," said Tom Finke, Aimia's Executive Chairman.  "With the outcome of our AGM now behind us, our near-term focus will be to launch a strategic review with the help of external advisors and identify the best options for returning capital to shareholders. These options may include the potential sale of Aimia's core holdings, the potential spinoff of core holdings, the potential recapitalization of the Holdco or core holdings or the potential merger of core holdings with other entities to take advantage of our cumulative tax losses."

Mr. Finke added, "Other priorities in the near term include the continued execution of our normal course issuer bid to purchase up to 7 million common shares, meeting the guidance expectations we set earlier this year to generate adjusted EBITDA of $80 to $85 million through our core holdings on a combined basis, and continued efforts to reduce costs at the Holdco."

Following the meeting of shareholders, Aimia's Board appointed Tom Little, CPA, ICD.D. as Lead Independent Director and Chair of the Company's Audit, Finance, and Risk Committee. Mr. Little previously served as the Executive Vice President of Bell Canada and President of Bell Business Markets, where he successfully implemented strategies to drive growth and enhance the client experience by integrating wireless and wireline business groups. Prior to that, he helped build and operate successful Canadian technology companies including as the President and CEO of VisualSonics Inc. and as EVP and GM at Dicom DICOM Information Technologies, which both yielded successful liquidity events.  Mr. Little is a Chartered Professional Accountant and holds an Honours Business Administration degree from the IVEY School of Business at the University of Western Ontario. Additionally, he has obtained an ICD.D designation from the Rotman Directors Education Program.  Mr. Little has served as an Aimia director since July 2023.

Aimia's full Report of Voting Results has been filed on SEDAR+ at www.sedarplus.ca

Advisors

Kingsdale Advisors is acting as strategic and communications advisor to Aimia. Norton Rose Fulbright Canada LLP is acting as legal counsel to Aimia.

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 in this press release include, but are not limited to, future upside resulting from the Company executing on its strategy, including the potential sale of Aimia's core holdings, the potential spinoff of core holdings recapitalization of the Holdco or core holdings or the potential merger of core holdings with other entities to take advantage of our cumulative tax losses, continued execution of our normal course issuer bid to purchase up to 7 million common shares, meeting the guidance expectations we set earlier this year to generate adjusted EBITDA of $80 to $85 million through our core holdings on a combined basis, and continued efforts to reduce costs at the Holdco. 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.