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AIMIA ADOPTS SHAREHOLDER RIGHTS PLAN TO PROTECT AGAINST "CREEPING" BIDS AND UNEQUAL TREATMENT OF SHAREHOLDERS
AIMIA ADOPTS SHAREHOLDER RIGHTS PLAN TO PROTECT AGAINST "CREEPING" BIDS AND UNEQUAL TREATMENT OF ...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n AIMIA ADOPTS SHAREHOLDER RIGHTS PLAN TO PROTECT AGAINST \"CREEPING\" BIDS AND UNEQUAL TREATMENT OF SHAREHOLDERS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 7, 2023\n \n \n /CNW/ - Aimia Inc. (TSX: AIM) (\"\n \n Aimia\n \n \") announces that its board of directors (the \"\n \n Board\n \n \") has approved the adoption of a shareholder rights plan (the \"\n \n Shareholder Rights Plan\n \n \") pursuant to a shareholder rights plan agreement entered into with TSX Trust Company, as Rights Agent, dated June 7, 2023 (the \"\n \n Effective Date\n \n \").\n \n \n The Board adopted the Shareholder Rights Plan in response to Mithaq Capital SPC's (\"\n \n Mithaq\n \n \") continued attempts to acquire effective control of Aimia through share acquisitions (i.e., a creeping bid), despite Aimia's ongoing legal proceedings against Mithaq requesting, among other things, an interlocutory injunction preventing Mithaq from acquiring or disposing Aimia's shares.\n \n \n The purpose of the Shareholder Rights Plan is to ensure that all shareholders are treated fairly in connection with any offer to acquire the outstanding common shares of Aimia and that the Board has the opportunity to identify, solicit, develop and negotiate value-enhancing alternatives to any unsolicited take-over bid.\n \n \n The Shareholder Rights Plan is subject to the acceptance of the Toronto Stock Exchange. While the Shareholder Rights Plan is effective as of the Effective Date, it is subject to ratification of Aimia's shareholders at a meeting of shareholders to be held within six months (the \"\n \n Meeting\n \n \"), failing which it will terminate. If ratified by shareholders of Aimia at the Meeting, the Shareholder Rights Plan will remain in effect for a term of three years following such ratification. The Shareholder Rights Plan is similar to rights plans adopted by other Canadian companies and ratified by their shareholders.\n \n \n A summary of the principal terms and conditions of the Shareholder Rig...