Mr. Tom Finke reports
AIMIA CONFIRMS ELECTION OF DIRECTORS
All seven of the nominees proposed for election to Aimia Inc.'s board of directors, listed in the company's management information circular, dated May 27, 2024, were elected at the company's annual general meeting of shareholders, held today in Toronto. The meeting was contested, with an alternative slate of six dissident nominees being proposed at the meeting. A total of 81,354,667 common shares, or 81.62 per cent of Aimia's issued and outstanding common shares, were represented in person or proxy at the meeting.
Detailed results of the vote for each director nominee are set out in the attached table.
"On behalf of Aimia's board of directors, I would like to thank shareholders for their support and endorsement of our strategy to unlock value for all investors," said Tom Finke, Aimia's executive chairman. "With the outcome of our AGM now behind us, our near-term focus will be to launch a strategic review with the help of external advisers and identify the best options for returning capital to shareholders. These options may include the potential sale of Aimia's core holdings, the potential spinoff of core holdings, the potential recapitalization of the Holdco or core holdings, or the potential merger of core holdings with other entities to take advantage of our cumulative tax losses."
Mr. Finke added: "Other priorities in the near term include the continued execution of our normal course issuer bid to purchase up to seven million common shares, meeting the guidance expectations we set earlier this year to generate adjusted EBITDA of $80- to $85-million through our core holdings on a combined basis and continued efforts to reduce costs at the Holdco."
Following the meeting of shareholders, Aimia's board appointed Tom Little, CPA, ICD.D., as lead independent director and chair of the company's audit, finance and risk committee. Mr. Little previously served as the executive vice-president of Bell Canada and president of Bell Business Markets, where he successfully implemented strategies to drive growth and enhance the client experience by integrating wireless and wireline business groups. Prior to that, he helped build and operate successful Canadian technology companies, including as the president and chief executive officer of VisualSonics Inc. and as executive vice-president and general manager at Dicom Information Technologies, which both yielded successful liquidity events. Mr. Little is a chartered professional accountant and holds an business administration degree (honours) from the Ivey School of Business at the University of Western Ontario. Additionally, he has obtained an ICD.D designation from the Rotman Directors Education Program. Mr. Little has served as an Aimia director since July, 2023.
Aimia's full report of voting results has been filed on SEDAR+.
Advisers
Kingsdale Advisors is acting as strategic and communications adviser to Aimia. Norton Rose Fulbright Canada LLP is acting as legal counsel to Aimia.
About Aimia
Inc.
Aimia is a diversified company focused on unlocking the growth potential of its two global businesses, Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company. Headquartered in Toronto, Aimia's priorities include monetizing its non-core investments, returning capital to its shareholders and efficiently utilizing its loss carryforwards to create shareholder value.
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