MONTREAL, March 1, 2019 /CNW Telbec/ - Aimia (TSX: AIM) today announced the applicable dividend rates for its Cumulative Rate Reset Preferred Shares, Series 3 (the "Series 3 Shares") and its Cumulative Floating Rate Preferred Shares, Series 4 (the "Series 4 Shares"), further to the February 25, 2019 notice and announcement that it will not exercise its right to redeem all or any part of the outstanding Series 3 Shares and, as a result of which, subject to certain conditions, the holders of the Series 3 Shares will have the right to convert all or any number of their Series 3 Shares into Series 4 Shares on a one-for-one basis.
With respect to any Series 3 Shares that remain outstanding on or after April 1, 2019, holders of the Series 3 Shares will be entitled to receive quarterly fixed, cumulative, preferential cash dividends, as and when declared by the company's Board of Directors, subject to compliance with the provisions of the Canada Business Corporations Act. The annual dividend rate for the five-year period from and including March 31, 2019 up to but excluding March 31, 2024 will be 6.01%, being 4.20% over the five-year Government of Canada bond yield, as determined in accordance with the rights, privileges, restrictions and conditions attaching to the Series 3 Shares.
With respect to any Series 4 Shares that may be issued on April 1, 2019, holders of the Series 4 Shares will be entitled to receive quarterly floating rate, cumulative, preferential cash dividends, calculated on the basis of the actual number of days elapsed in such quarterly period divided by 365, as and when declared by the Board of Directors of Aimia, subject to the provisions of the Canada Business Corporations Act. The annualized dividend rate for the floating rate period from and including March 31, 2019 up to but excluding June 30, 2019 will be 5.88%, being 4.20% over the three-month Government of Canada Treasury Bill yield, as determined in accordance with the terms of the Series 4 Shares.
The Series 3 Shares are issued in "book entry only" form and must be purchased or transferred through a participant (a "CDS Participant") in the depository service of CDS Clearing and Depository Services Inc. ("CDS"). All rights of holders of Series 3 Shares must be exercised through CDS or the CDS Participant through which the Series 3 Shares are held. As such, beneficial owners of Series 3 Shares who wish to exercise their conversion right should communicate as soon as possible with their broker or other nominee to obtain instructions for exercising such right through CDS on or prior to the deadline for exercise, which is 5:00 p.m. (Montreal time) on March 18, 2019 for CDS as sole registered holder of the Series 3 Shares but 1:00 p.m. (Montreal time) on March 18, 2019 for beneficial holders wishing to exercise their conversion right through CDS Participants.
Inquiries should be directed to Aimia's Registrar and Transfer Agent, AST Trust Company (Canada), at 1-800-387-0825 (toll free in Canada and the United States).
Aimia Inc. (TSX: AIM) is a global data-driven marketing and loyalty analytics company, providing clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both clients and consumers. Aimia partners with companies to help generate, collect and analyze customer data and build actionable insights.
Aimia owns and operates the Air Miles Middle East loyalty program and also own stakes in other loyalty programs, such as Club Premier in Mexico and Think Big, a partnership with Air Asia and Tune Group.
For more information about Aimia, visit www.aimia.com
For further information: Aimia media and investor inquiries: Karen Keyes, (647) 459-3506, [email protected]