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Mithaq Warns Aimia Shareholders of Potential for Board Misconduct at Upcoming Annual General Meeting
Mithaq Warns Aimia Shareholders of Potential for Board Misconduct at Upcoming Annual General Meet...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n Mithaq Warns Aimia Shareholders of Potential for Board Misconduct at Upcoming Annual General Meeting\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 13, 2024\n \n \n /CNW/ - Mithaq Capital SPC (\"\n \n Mithaq\n \n \"), the largest shareholder of Aimia Inc. (TSX: AIM) (\"\n \n Aimia\n \n \"), today provides a warning to Aimia shareholders that it is very concerned about potential misconduct by the current board of directors (the \"\n \n Board\n \n \") at the upcoming annual meeting of Aimia shareholders to be held on\n \n June 26, 2024\n \n (the \"\n \n Meeting\n \n \"). As acknowledged by Aimia in its press release dated\n \n June 3, 2024\n \n , Mithaq has nominated six individuals (the \"\n \n Mithaq Nominees\n \n \") for election to the Board at the Meeting pursuant to Aimia's advance notice by-law (by-law no. 2013-1). Mithaq has ownership of, or control or direction over, a total of 26,893,588 common shares of Aimia, representing approximately 26.98% of the issued and outstanding common shares.\n \n \n Mithaq formally requested on\n \n June 5, 2024\n \n that Aimia cooperate with Mithaq in advance of the Meeting by setting certain protocols and procedures to avoid the extravagant legal and other advisor expenses incurred by Aimia unnecessarily following the 2023 annual general meeting (the \"\n \n 2023 AGM\n \n \"). Aimia has since refused Mithaq's requests other than to confirm that the Meeting will have an independent chair whose identity remains undisclosed. Establishing the protocols and procedures requested by Mithaq is customary in the context of a contested shareholder meeting and the Board's refusal to cooperate indicates a concerning lack of respect for shareholder democracy and good governance. Coupled with evidence obtained by Mithaq regarding the apparent inappropriate influencing of proxies submitted in connection with the 2023 AGM, shareholders should be concerned about similar misconduct at the Meeting.\n \n \n At this time, Mithaq is reserving its right to seek as...