TORONTO, April 18, 2023 /CNW/ - Aimia Inc. (TSX: AIM) ("Aimia" or the "Company") announces that all but one of the nominees listed in the management information circular dated March 15, 2023 were elected as directors of Aimia at the Annual Meeting ("AGM") held today.
Each of the nominees proposed by management except Mr. David Rosenkrantz received the approval of the majority of the votes cast and was therefore elected to the board of directors of Aimia ("Board").
Despite Aimia's concerns about (a) undisclosed joint actor conduct on the part of the Company's largest shareholder, Mithaq Capital SPC ("Mithaq"), and others, and (b) the receipt by Mithaq and others of confidential information from a former insider of the Company, the votes cast by Mithaq and its joint actors against the Board's nominees have been included in the final tally. The eligibility of these votes and the subsequent totals for each Director will be subject to the outcome of the ongoing regulatory and legal proceedings and the investigation into irregularities regarding the acquisition and voting of shares. Except for these votes, Mr. Rosenkrantz would also have received a majority of the votes cast and would have remained in his position as the Chairman of the Board.
At the request of the Board, and pursuant to the operation of the Canada Business Corporations Act, R.S.C., 1985, c. C-44, Mr. Rosenkrantz will remain a member of the Board until up to the 90th day after the day of the AGM to allow the ongoing regulatory and legal proceedings to be completed.
The Company is taking all reasonable steps to protect the integrity of its AGM and to ensure compliance with securities laws.
Voting results on all matters voted on at the AGM will be published shortly on www.aimia.com, and filed with the Canadian securities regulators.
About Aimia
Aimia Inc. (TSX: AIM) is a holding company with a focus on making long-term investments in public and private companies, on a global basis, through controlling or minority stakes. The company owns a portfolio of investments which include: 100% ownership of Tufropes, a global leader in the manufacturing of high-performance synthetic fiber ropes and netting solutions for global aquaculture, maritime, and other various industrial customers, a 10.85% stake in Clear Media Limited, one of the largest outdoor advertising firms in China, a 48.8% equity stake in Kognitiv, a B2B company enabling global brands to redefine loyalty with solutions for multi-enterprise collaboration, a 11.8% equity stake in TRADE X, a global B2B cross-border automotive trading platform. Subject to transaction closing, Aimia's investment portfolio will also include Bozzetto Group, one of the world's largest ESG-focused providers of specialty sustainable chemicals.
For more information about Aimia, visit www.aimia.com.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking information" within the meaning of Canadian securities laws ("forward-looking statements"), which are based upon our current expectations, estimates, projections, assumptions and beliefs. All information that is not clearly historical in nature may constitute forward-looking statements. Forward-looking statements are typically identified by the use of terms such phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would" and "should", and similar terms and phrases, including references to assumptions.
Forward-looking statements in this press release include, but are not limited to, statements with respect to the outcome of the concerns raised with the regulatory authority and findings resulting from the injunction granted by the Ontario Superior Court of Justice. Forward-looking statements, by their nature, are based on assumptions and are subject to known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statement will not occur. The forward-looking statements in this press release speak only as of the date hereof and reflect several material factors, expectations and assumptions. Undue reliance should not be placed on any predictions or forward-looking statements as these may be affected by, among other things, changing external events and general uncertainties of the business. A discussion of the material risks applicable to us can be found in our current Management's Discussion and Analysis and Annual Information Form, each of which have been or will be filed on SEDAR and can be accessed at www.sedar.com. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and we disclaim any intention and assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Aimia Inc.
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