AIMIA PROVIDES UPDATE ON ITS SHARE BUYBACKS FOR MAY 2025
TORONTO, June 2, 2025 /CNW/ - Aimia Inc. (TSX: AIM) announced that it repurchased and settled for cancellation a total of 1,450,132 of its common shares in the month of May 2025 under the Company's normal course issuer bid program ("NCIB"). The total represents 1.56% of Aimia's 92,815,385 common shares outstanding as at May 30, 2025.
Shares were repurchased at a weighted-average price of $2.74 per common share for a total settlement of $3,974,551 excluding brokerage fees. Through May 30, 2025, Aimia has repurchased and cancelled 5,585,932 common shares or 79.69% of the 7,009,622 common shares it is eligible to purchase under its NCIB first announced on June 4, 20241. Aimia launched its NCIB as part of its strategy to enhance shareholder value.
Aimia believes that the market price of its common shares may, from time to time, not reflect the intrinsic value of the company, and that repurchases of common shares pursuant to the NCIB may represent an appropriate and desirable use of the Company's funds. Therefore, Aimia believes that it is in its best interest to proceed with this NCIB, while maintaining sufficient financial flexibility to execute on the Company's future strategic direction and capital allocation priorities.
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1 The movement in the number of Aimia's issued and outstanding shares since the start of its NCIB in June 2024 also reflects the cancellation of 1,302,857 escrow shares and the issuance of 24,560 common shares related to the Company's acquisition of Mittleman Investment Management, LLC in June 2020. |
About Aimia
Aimia Inc. (TSX: AIM) is a diversified company focused on enhancing the value of its two core global businesses, Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company. Headquartered in Toronto, Aimia's priorities include reducing its holding company costs, reducing the discount of its share price to the intrinsic value of its net assets and efficiently utilizing its loss carry-forwards to create shareholder value.
For more information about Aimia, visit www.aimia.com
SOURCE Aimia Inc.