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Aimia Inc T.AIM

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

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. The Cortland International segment consists of Tufropes and Cortland Industrial LLC (Cortland). Tufropes is a manufacturer of synthetic fiber ropes and netting solutions for maritime and other different industrial customers. Cortland is a designer, manufacturer, and supplier of technology advanced synthetic ropes, slings, and tethers to the aerospace & defense, marine, renewables, and other diversified industrial end markets. The Holdings segment includes investments in Clear Media Limited, Kognitiv, as well as minority investments in various public company securities and limited partnerships.


TSX:AIM - Post by User

Bullboard Posts
Comment by Mattywack2on Nov 19, 2019 4:58pm
149 Views
Post# 30371304

RE:RE:RE:Formal Valuation Posted In Sedar

RE:RE:RE:Formal Valuation Posted In SedarThis is the reason they gave in the Valuation:

"Given that the Preferred Shares are perpetual in nature and not retractable by the investor, it would be inappropriate to deduct their par value (or redemption value) when determining the value of the Shares. Alexander Capital has therefore compared the trading values of the Preferred Shares to similar perpetual preferred shares traded in the market by examining their Running Yield, defined as the stated dividend (typically fixed for the next five or fewer years until the next Reset Date) divided by the market price per share. The Running Yield of the Preferred Shares, as shown in the table below, is observed to be in the range of 7.5% – 8%. Alexander Capital reviewed approximately 250 other preferred shares similar to Aimia’s and identified several issues which exhibit Running Yields in the same range as the Preferred Shares but which carry significantly better credit ratings, typically in the Pfd-3 (low) to Pfd-2 (low) range. Given the Preferred Shares carried weaker credit ratings of Pfd-5 and P-4 (low) from DBRS and S&P, respectively, before such ratings were withdrawn, the Preferred Shares could be viewed as being fully valued in the current market."
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