RE:RE:RE:RE:RE:RE:New Press Release - AIMIA REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTSJust before expiry of the extended bid, Aimia launched another motion against Mithaq before the Capital Markets Tribunal. It's the same old complaints regarding joint actorship, but this time they're seeking different relief: They want the tribunal to order Mithaq to make a takeover bid at $4.03, saying that this was the price of the shares at the time Mithaq crossed the threshold which should've triggered a bid. The hearing is scheduled for early May.
Mithaq has filed a motion to dismiss. This will be heard on April 10.
You can read all about it here:
https://www.capitalmarketstribunal.ca/en/proceedings/aimia-inc-re
These filings reveal that the civil action that was supposed to be heard before Ontario Superior Court in January was adjourned at the request of both parties, since a settlement had been reached. But then the settlement wasn't consummated. Mithaq's filing implies Aimia walked away but there are no details and of course Aimia prefers to keep their legal "strategy" in this matter opaque.
And yes: I was a little surprised at the limited volume yesterday. Everyone is stuck. The recent bid for $3.66 makes it hard to hit the sell button at $2.65, but nobody wants to pay much more.