Business
MITHAQ PROVIDES UPDATE TO FELLOW CONCERNED SHAREHOLDERS ON AIMIA'S FURTHER ATTEMPTS TO FRUSTRATE SHAREHOLDER DEMOCRACY AND AVOID TRANSPARENCY
MITHAQ PROVIDES UPDATE TO FELLOW CONCERNED SHAREHOLDERS ON AIMIA'S FURTHER ATTEMPTS TO FRUSTRATE ...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n MITHAQ PROVIDES UPDATE TO FELLOW CONCERNED SHAREHOLDERS ON AIMIA'S FURTHER ATTEMPTS TO FRUSTRATE SHAREHOLDER DEMOCRACY AND AVOID TRANSPARENCY\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 Calls on Aimia's entrenched board to provide access to proxies to prove board was legitimately elected; Mithaq has now been forced by the Company's intransigence to seek a court order to allow what should be an uncontroversial and commonplace review\n \n \n Calls on Aimia's entrenched board to cease wasting shareholder resources with expensive litigation in an effort to remain as directors\n \n \n Cautions board not to further entrench itself in the face of discontent and puts Aimia on notice that Mithaq will use all available levers to defend existing shareholders from any abusive and entrenching tactics\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 5, 2023\n \n \n /CNW/ - Mithaq Capital SPC (\"\n \n Mithaq\n \n \"), the largest shareholder of Aimia Inc. (\"\n \n Aimia\n \n \" or the \"\n \n Company\n \n \"), today updated fellow concerned Aimia shareholders regarding further attempts by the Company and its board of directors (the \"\n \n Board\n \n \") to frustrate transparency and accountability.\n \n \n Mithaq is a strategic long-term shareholder with a history of supporting first-class management teams and championing longstanding partnerships based primarily on trust. However, as Mithaq has stated previously, Mithaq is no longer satisfied with and has lost its trust in Aimia's management and Board.\n \n \n As the largest shareholder of Aimia, with a stake now representing almost 31% of the Company's outstanding common shares, Mithaq is committed to ensuring that shareholder democracy at Aimia is upheld. Mithaq's ultimate motivation is to protect and compound the intrinsic value of all shareholders' equity stakes through a more accountable Board that has significant ownership and shareholder representation.\n \n \n The examples of entrenching behaviour by the current Board are numerous and disconcerting to any shareholder...