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In the Face of its Compelling Premium Cash Offer for Aimia, Mithaq has Serious Concerns with Aimia's Entrenched Directors Instead Seeking to Dilute Shareholders to Raise Unneeded Cash
In the Face of its Compelling Premium Cash Offer for Aimia, Mithaq has Serious Concerns with Aimi...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n In the Face of its Compelling Premium Cash Offer for Aimia, Mithaq has Serious Concerns with Aimia's Entrenched Directors Instead Seeking to Dilute Shareholders to Raise Unneeded Cash\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Aimia's Private Placement Is Clearly a Defensive Tactic and Mithaq Is Pursuing Regulatory Remedies\n \n \n \n \n Mithaq's All-Cash Takeover Bid for Aimia of\n \n $3.66\n \n per Common Share Is the Best Option for Shareholders, Representing a Compelling Premium of Approximately\n \n \n 20% to Pre-Bid Trading Price on the TSX\n \n \n \n \n \n Shareholders Should Continue to Visit\n \n \n \n www.cashpremiumforaimia.com\n \n \n \n for the Latest Updates\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Oct. 16, 2023\n \n \n /CNW/ - Mithaq Canada Inc. (the \"\n \n Offeror\n \n \"), a wholly-owned subsidiary of Mithaq Capital SPC (\"\n \n Mithaq\n \n \"), the largest shareholder of Aimia Inc. (TSX: AIM) (\"\n \n Aimia\n \n \"), today made the following statement regarding Aimia's\n \n October 13, 2023\n \n announcement that it intends to dilute its long-suffering existing shareholders by issuing discounted shares and warrants to a new group of undisclosed investors in a private placement, raising cash that Aimia does not need, while increasing the share count by as much as 24.89% and providing this group with up to three of eight Aimia board seats, all in a bid to further entrench the Aimia board and management.\n \n \n \"The entrenched board's actions come at the expense of shareholder interests, are a breach of the directors' fiduciary duties and an affront to basic principles of public company governance,\" said Mr. Turki\n \n Saleh A. AlRajhi\n \n , Chairman and Chief Executive Officer o...