MONTREAL, Sept. 12, 2019 /CNW/ - Loyalty and travel-focused consolidator Aimia Inc. (TSX: AIM) today announced that Charles Frischer and other parties, claiming to own not less than 5% of the company, (together, the "Frischer Group") has requisitioned a special meeting of Aimia's shareholders to consider several proposed resolutions, including the election of four new directors to replace four existing directors. The company's Board of Directors (the "Board") will review the requisition and will respond in due course. Shareholders are not required to take any action at this time.
Aimia, under the leadership of a strong and renewed Board of Directors, has undergone significant positive change over the past 12 months with the input of its shareholders and other stakeholders, and is making good progress with its new strategic direction. In the interest of defending the company and shareholders from continued breaches of contract, other unlawful and destructive interference and ongoing, self-interested proposals to seize control of the company and its assets, the company also commenced legal action against Mittleman Brothers, LLC and related parties (collectively, "Mittleman"), as previously announced.
Further, out of concern that the early warning reporting and takeover bid requirements under applicable securities laws, regulations and rules may not have been complied with, to the potential detriment of Aimia shareholders, Aimia sent a letter earlier this week to the members of the Frischer Group, Mittleman and certain other shareholders requesting particulars of any and all coordination activities, contacts and communications among such persons. The company intends to take any and all appropriate action in the event any or all such persons have not fully complied with the regulatory regime.
Aimia Inc. (TSX: AIM) is a loyalty and travel consolidator focused on growing earnings through its existing investments and the targeted deployment of capital in loyalty solutions and other sub-sectors of the rapidly-expanding loyalty and travel markets.
Its investments in travel loyalty include the Club Premier program in Mexico, which it jointly controls with Aeromexico through its investment in PLM, and an investment alongside Air Asia in travel technology company BIGLIFE, the operator of BIG Loyalty.
Aimia also operates a loyalty solutions business, which is a well-recognized, global full-service provider of next-generation loyalty solutions for many of the world's leading brands in the retail, CPG, travel & hospitality, financial services and entertainment verticals.
For more information about Aimia, visit corp.aimia.com.
SOURCE Aimia Inc.