TORONTO, Jan. 10,
2025 /CNW/ - Aimia Inc. (TSX: AIM)
("Aimia" or the "Company") today announced that due
to the impact of Canada Post workers' strike in delaying the
mailout of documents related to the Company's previously announced
substantial issuer bid (the "Offers") to purchase for
cancellation all of its preferred shares in consideration for 9.75%
senior unsecured notes (the "2030 Notes"), it has extended
the expiry date of the Offers to 5:00 pm
(Eastern time) on January 30,
2025, unless further extended, varied or withdrawn by
the Company. All other terms of the Offers remain
unchanged.
Details of the Offers, including instructions for tendering the
Preferred Shares, are included in the formal offers to purchase
(the "Offers to Purchase") and issuer bid circular dated
November 21, 2024
(the "Circular"), as same will be amended by the notice
of variation and extension dated January 10,
2025 (the "Notice of Variation" and, collectively
with the Circular, the letter of transmittal and the notice of
guaranteed delivery, the "Offer Documents"). The Notice of
Variation will be mailed to preferred shareholders, filed with
applicable Canadian securities authorities and made available
without charge on SEDAR+ at www.sedarplus.ca. Preferred
shareholders should carefully read the Offer Documents prior to
making a decision with respect to the Offers.
Preferred Shareholders who have already deposited their
Preferred Shares validly using the letter of transmittal and, if
applicable, a notice of guaranteed delivery, and have not withdrawn
such Preferred Shares, do not need to take any further action to
accept the applicable Offers and receive the applicable purchase
price (as detailed in the Offer Documents). The Company will take
up and pay for Preferred Shares validly deposited under the Offers
pursuant to the terms and conditions of the Offer Documents.
Preferred Shares validly deposited and not withdrawn as of the
initial expiry date, being 5:00 pm (Eastern Time) on
January 10, 2025 will be taken up and
paid for by the Company on or about January
14, 2025.
The Substantial Issuer Bid marks the first initiative introduced
as a result of Aimia's strategic review process designed to unlock
the Company's value. The Offers provide preferred shareholders with
an opportunity to realize all or a portion of their investment in
the Company based on (i) the limited liquidity and perpetual nature
of the Preferred Shares, (ii) the higher annual yield the 2030
Notes will provide relative to the current dividend (annualized) of
each series of Preferred Shares, (iii) the fixed maturity date of
the 2030 Notes, and (iv) the accelerated liquidity available to
holders of 2030 Notes in certain events. The Strategic Review
Committee and the Board of Directors believe that the exchange of
Preferred Shares for the 2030 Notes under the Offers for the
purchase price (as detailed in the Offer Documents) represents an
effective recapitalization of the Company and is in the best
interests of the Company and its security holders.
Shareholders with questions about the Offers or how to tender
can contact Aimia's information agent, Shorecrest Group
at 1-888-637-5789 (North American Toll-Free Number) or +1
647-931-7454 (outside North America) or
email: contact@shorecrestgroup.com for assistance.
This news release is for informational purposes only and does
not constitute an offer to buy or the solicitation of offers to
sell Preferred Shares. The formal offers to purchase the Preferred
Shares in consideration for 2030 Notes are detailed in the Offer
Documents.
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, enhancing
the value of our core holdings, and returning capital to its
shareholders. 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 in this release
include, without limitation, statements regarding the Company's
intentions and expectations with respect to the Offers, the
expected Expiry Time and Closing Date of the Offers and the effects
and benefits of the Offers. 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.