I don't understand why there can be no compromise here. The only point I agree with in Aimia's response to Mithaq's statements is that there was no discussion of strategy to create value. That is true. However, Aimia's "decisive actions" are also hard to swallow.
On eliminating over $2M in executive compensation: Sure, they finally got rid of the CEO and President who caused this mess, but there has yet to be any disclosure around their exit packages. One has to assume it's close to what they are boasting about eliminating. Additionally, no replacement CEO has been named, and that individual won't be cheap. The "elimination" of this executive compensation expense is a farce.
On strengthening the board and improving governance: Good governance is not issuing equity to Paladin just before the record date of the AGM voting. It's also notable that two of the longer-standing board members, who remain on Aimia's board slate, barely own any stock that they purchased directly. They've simply collected significant board fees and stock gifts at the expense of shareholders.
On monetizing over $20M from non-core investments: Selling a publicly traded equity completely unrelated to Aimia's core business took no skill, intellect, or finesse. It was long overdue and could have been done effortlessly at higher prices a long time ago.
On closing the earning-out from PLM: What exactly did they do besides wait for the receipt of a payment? This was not the result of a "decisive action."
On launching the NCIB: This would have been welcome had they not diluted shareholders by the 5 million share issuance to Paladin less than a month ago.
If the current regime has shareholders' best interests in mind, they should stop wasting shareholder capital on fighting Mithaq. It's clear from what Mithaq is doing in PLCE that they can be very supportive shareholders. Make peace, add a few of their people to the board, and let's move on.