Aimia’s largest shareholder to vote against re-election of board at annual meeting

By The Canadian Press on April 6, 2023.

TORONTO – The largest shareholder of Aimia Inc. says it will vote against the re-election of the company’s board of directors at its annual meeting later this month.

Mithaq Capital SPC says it is disappointed with recent events and has lost confidence in the board and management.

The affiliate of Mithaq Holding Company, a family office based in Saudi Arabia, says it holds a 19.9 per cent stake in the company.

Aimia is scheduled to hold its annual meeting on April 18.

The company, which sold its flagship Aeroplan loyalty program to Air Canada in 2019, has reinvented itself as an investment holding company.

Mithaq says its decision to vote against the re-election of the board includes concerns regarding capital allocation decisions related to acquisitions.

This report by The Canadian Press was first published April 6, 2023.

Companies in this story: (TSX:AIM)

9
-8

Comments are closed.