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Bullboard - Stock Discussion Forum Aimia Inc T.AIM.PR.D


Primary Symbol: T.AIM Alternate Symbol(s):  AIMFF | T.AIM.PR.A | T.AIM.PR.C

Chemicals Specialty Chemicals
Aimia Inc. is a diversified company. The Company operates through three segments: Bozzetto, Cortland International and Holdings. The Bozzetto segment is a provider of specialty sustainable chemicals, offering sustainable textile, water and dispersion chemical solutions with applications in several end-markets including the textile, home and personal care, plasterboard and agrochemical markets... see more

Bullboard (TSX:AIM)

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Comment by TheCount11on Jun 29, 2024 8:59am

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:AIM.PR.C

If you don't see this board as being particularly shy about doing the unprecedented please include the scheme as a sort of shareholder resolution with them. Seems like a win win situation.   ...more  
3
Discussion
Comment by DaneOddmentson Jun 29, 2024 1:16am

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:AIM.PR.C

I can't think of any examples, but then again, I don't see this board as being particularly shy about doing the unprecedented... they just issued 5M shares at $2.50, less than half of ...more  
18
Discussion
Comment by TheCount11on Jun 28, 2024 11:46pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:AIM.PR.C

I'll give you the benefit of the doubt that this scheme is not securities manipulation as I won't go to jail if it is.  Imagine the only roadblock to enacting this is scheme is providing ...more  
13
Discussion
Comment by DaneOddmentson Jun 28, 2024 6:09pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:AIM.PR.C

I think if they announced both actions at the same time, there would not be a market manipulation claim available.  The disappointment of the dividend cut would impact pricing to the downside ...more  
28
Discussion
Comment by TheCount11on Jun 28, 2024 5:10pm

RE:RE:RE:RE:RE:RE:RE:RE:AIM.PR.C

Can you name 3 other companies that have done a SIB right after cancelling preferred dividends without litigation in the last 50 years? Cancelling the dividend, crashing the preferred stock price ...more  
30
Discussion
Comment by DaneOddmentson Jun 28, 2024 2:27pm

RE:RE:RE:RE:RE:RE:RE:AIM.PR.C

Pref shareholders would have no lawsuit because 1) the SIB would be voluntary, 2) the SIB would be announced in conjunction with the deferral of dividends (so no seller would be selling without that ...more  
25
Discussion
Comment by TheCount11on Jun 28, 2024 10:50am

RE:RE:RE:RE:RE:RE:AIM.PR.C

The problem is pref shareholder litigation if the dividends are in arrears when pref stock is bought back.  The C suite and BoD don't exactly have a great track record with their largest ...more  
36
Discussion
Comment by Catscratchon Jun 28, 2024 10:28am

RE:RE:RE:RE:RE:Case study: How to steal control of a public company

Don't think any shareholders are happy here.  Probably picking the lesser of two bads and keeping the board on a very short leash.    PWC fees are ridiculous for company of this ...more  
29
Discussion
Comment by ThatKarenon Jun 28, 2024 3:25am

RE:RE:RE:RE:Case study: How to steal control of a public company

It seems like new suckers are born each day as I see a few larger managers buying starter positions. Have not seen press coverage about Jefferies, about the Eric Hauser/Mark Hauser conflict or about ...more  
44
Discussion
Comment by nkbourbakion Jun 27, 2024 5:58pm

RE:RE:RE:Case study: How to steal control of a public company

Yeah, I get it.  I had to fight with myself and really hold my nose to vote for the current team, and I am by no means fully convinced I made the right decision.  No question at all that ...more  
39
Discussion
Comment by DaneOddmentson Jun 27, 2024 5:36pm

RE:RE:RE:RE:RE:AIM.PR.C

yes, that's true.  but it's easily done via SIB.  they bought $62 mil. of the preferreds back at a nice discount to par in December 2019.  and $62 mil. worth of common stock at  ...more  
34
Discussion
Comment by nkbourbakion Jun 27, 2024 5:32pm

RE:RE:RE:RE:RE:AIM.PR.C

Yes but I assume that's what the other poster was suggesting:   i.e. Cut the dividend and then launch an NCIB or SIB.  For common shares this is possible.  For prefs I' ...more  
37
Discussion
Comment by DaneOddmentson Jun 27, 2024 5:16pm

RE:RE:Case study: How to steal control of a public company

I'm actually not sure what Mithaq might have done to break or bend the rules in terms of the way they built their stake, but I do know that they paid market prices, or above, and have an average ...more  
43
Discussion
Comment by luscar99on Jun 27, 2024 5:04pm

RE:RE:RE:RE:AIM.PR.C

No, buybacks "under par" for prefs could only happen bidding on the open stock market under very restrictive conditions (the same conditions as for buybacks of regular stock). https://www ...more  
24
Discussion
Comment by nkbourbakion Jun 27, 2024 4:51pm

RE:RE:RE:AIM.PR.C

Buybacks of prefs under par are certainly legal.  It happens all the time. (Unless there is specific language in the terms of these particular prefs?)    It sure seems like you shouldn ...more  
26
Discussion
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