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AIMIA FILES APPLICATION TO CAPITAL MARKETS TRIBUNAL IN RESPONSE TO ACTIVIST BREACH OF ONTARIO SECURITIES LAW
AIMIA FILES APPLICATION TO CAPITAL MARKETS TRIBUNAL IN RESPONSE TO ACTIVIST BREACH OF ONTARIO SEC...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n AIMIA FILES APPLICATION TO CAPITAL MARKETS TRIBUNAL IN RESPONSE TO ACTIVIST BREACH OF ONTARIO SECURITIES LAW\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 Feb. 14, 2024\n \n \n /CNW/ - Aimia Inc. (\"Aimia\") announced today that it has filed an application (\"\n \n Application\n \n \") with the Capital Markets Tribunal (\"\n \n CMT\n \n \"), a division of the Ontario Securities Commission, requesting an order declaring that Mithaq Capital SPC (\"\n \n Mithaq\n \n \") breached\n \n Ontario\n \n securities law and directing Mithaq to comply with National Instrument 62-104\n \n Take-over Bids and Issuer Bids\n \n .\n \n \n As set out in Aimia's Application, as a result of prior trading activity by Mithaq and its joint actors, Mithaq ought to have made a take-over bid to all holders of common shares of Aimia (\"\n \n Common Shares\n \n \") at a price of\n \n $4.13\n \n per Common Share, well in excess of the\n \n $3.66\n \n offered in the hostile tender offer commenced by Mithaq on\n \n October 5, 2023\n \n .\n \n \n A preliminary hearing of the CMT has been scheduled for\n \n February 15, 2024\n \n , at\n \n 9:30 a.m.\n \n to discuss scheduling of the Application.\n \n \n The special committee of Aimia's board of directors has not yet made a determination on the adequacy of any offer that Mithaq may be required to make as a result of the Application. Aimia's board of directors continues to recommend the rejection of Mithaq's undervalued offer of\n \n $3.66\n \n per Common Share. Any subsequent offer to acquire Aimia shares will be evaluated if and when it is received.\n \n \n \n Advisors\n \n \n \n Norton Rose Fulbright Canada LLP is acting as legal counsel to Aimia. Kingsdale Advisors is acting as strategic shareholder advisor to Aimia.\n \n \n \n About Aimia\n \n \n \n Aimia Inc. (TSX: AIM) is a holding company that makes long-term investments in private and public businesses through controlling or minority stakes. Aimia targets companies with durable economic advantages evidenced by a...