TORONTO, June 7, 2023 /CNW/ - Aimia Inc. (TSX: AIM) ("Aimia") announces that its board of directors (the "Board") has approved the adoption of a shareholder rights plan (the "Shareholder Rights Plan") pursuant to a shareholder rights plan agreement entered into with TSX Trust Company, as Rights Agent, dated June 7, 2023 (the "Effective Date"). 

The Board adopted the Shareholder Rights Plan in response to Mithaq Capital SPC's ("Mithaq") continued attempts to acquire effective control of Aimia through share acquisitions (i.e., a creeping bid), despite Aimia's ongoing legal proceedings against Mithaq requesting, among other things, an interlocutory injunction preventing Mithaq from acquiring or disposing Aimia's shares.

The purpose of the Shareholder Rights Plan is to ensure that all shareholders are treated fairly in connection with any offer to acquire the outstanding common shares of Aimia and that the Board has the opportunity to identify, solicit, develop and negotiate value-enhancing alternatives to any unsolicited take-over bid.

The Shareholder Rights Plan is subject to the acceptance of the Toronto Stock Exchange. While the Shareholder Rights Plan is effective as of the Effective Date, it is subject to ratification of Aimia's shareholders at a meeting of shareholders to be held within six months (the "Meeting"), failing which it will terminate. If ratified by shareholders of Aimia at the Meeting, the Shareholder Rights Plan will remain in effect for a term of three years following such ratification. The Shareholder Rights Plan is similar to rights plans adopted by other Canadian companies and ratified by their shareholders.

A summary of the principal terms and conditions of the Shareholder Rights Plan will be set out in Aimia's Management Information Circular to be mailed to shareholders prior to the Meeting. A copy of the complete Shareholder Rights Plan will be filed on SEDAR.

Aimia Inc. (TSX: AIM) is a holding company with a focus on making long-term investments in private and public 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, 94% ownership of Bozzetto Group, one of the world's largest ESG-focused providers of specialty sustainable chemicals, a 10.85% stake in Clear Media Limited, one of the largest outdoor advertising firms in China, a 48.9% equity stake in Kognitiv, a global SaaS company inspiring customer loyalty through data-driven personalization, as well as an 11.9% equity stake in TRADE X, a global B2B cross-border automotive trading platform.

For more information about Aimia, visit www.aimia.com.

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 implementation of, and potential effects of implementing, the Shareholder Rights Plan. 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.