Business
AIMIA ENTERS INTO A PRIVATE AGREEMENT WITH MILKWOOD CAPITAL (UK) LTD. TO REPURCHASE COMMON SHARES
AIMIA ENTERS INTO A PRIVATE AGREEMENT WITH MILKWOOD CAPITAL (UK) LTD. TO REPURCHASE COMMON SHARES...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n AIMIA ENTERS INTO A PRIVATE AGREEMENT WITH MILKWOOD CAPITAL (UK) LTD. TO REPURCHASE COMMON SHARES\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 July 17, 2024\n \n \n /CNW/ - Aimia Inc. (TSX: AIM) (\"\n \n Aimia\n \n \" or the \"\n \n Company\n \n \") today announced that it has entered into an agreement to purchase for cancellation 1,300,000 of its common shares (the \"\n \n Repurchased Shares\n \n \") owned by Milkwood Capital (UK) Ltd. at a price per Repurchased Share (the \"\n \n Repurchase Price\n \n \") equal 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 \"\n \n TSX\n \n \") for the 20 trading days ending on July 16, 2024) and (ii) an amount equal to 96% of the volume-weighted average price of the common shares of Aimia on the TSX for the 3 trading days ending on the date of closing. The repurchase is scheduled to occur after close of markets on\n \n July 19, 2024\n \n . The repurchase is part of the Corporation's obligations under the settlement agreement between the parties that was announced on\n \n December 29, 2023\n \n . Other than the Repurchase Price, no fee or other consideration will be paid in connection with the repurchase. The repurchase will count 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\n \n June 6, 2024\n \n and ending\n \n June 5, 2025\n \n . The Company will file a report on SEDAR+ immediately following the completion of the transaction indicating, among other things, the aggregate dollar amount paid for the Repurchased Shares.\n \n \n \n About Aimia\n \n \n \n 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\n \n To...