MONTREAL, May 10, 2017 /CNW Telbec/ - Aimia Inc. (TSX: AIM)
announced today that it has received approval from the Toronto
Stock Exchange respecting the renewal of its normal course issuer
bid to purchase for cancellation up to 12,996,232 of its common
shares, or 10% of the public float of 129,962,321 common shares as
at May 9, 2017, through the
facilities of the Toronto Stock Exchange and through alternative
trading systems (such as Alpha ATS), or by other means as may be
permitted by the TSX, such as prearranged crosses, exempt offers
and block purchases, during the period from May 23, 2017 to no later than May 22, 2018. Aimia may also purchase common
shares for cancellation by way of private agreements under an
issuer bid exemption order issued by a securities regulatory
authority. Purchases made on the open market through the facilities
of the TSX and alternative trading systems will be at the
prevailing market price at the time of acquisition. Purchases made
by way of private agreements under an issuer bid exemption order
issued by a securities regulatory authority will be at a discount
to the prevailing market price as provided in the exemption order.
As at May 9, 2017 there were
152,307,196 common shares issued and outstanding.
The average daily trading volume on the Toronto Stock Exchange
for the past six months was 284,506 common shares. Under the
regulations of the Toronto Stock Exchange, a maximum daily
repurchase of 25% of this average may be made, representing 71,126
common shares. In addition, Aimia may make, once per week, a block
purchase (as such term is defined in the TSX Company Manual) of
common shares not directly or indirectly owned by insiders of
Aimia, in accordance with the regulations of the Toronto Stock
Exchange. The common shares purchased pursuant to the normal course
issuer bid will be cancelled.
It is possible that the market price of the common shares may be
undervalued at certain times throughout the duration of the normal
course issuer bid, and Aimia believes that the purchase of common
shares at such times may be an appropriate use of capital in order
to increase shareholder value.
From May 20, 2016 to May 9, 2017, Aimia did not purchase any of its
common shares pursuant to its current normal course issuer bid.
About Aimia
Aimia Inc. (TSX: AIM) is a data-driven marketing and loyalty
analytics company. We provide our 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 our
clients and consumers.
With about 2,300 employees across 15 countries, Aimia partners
with groups of companies (coalitions) and individual companies to
help generate, collect and analyze customer data and build
actionable insights.
We do this through our own coalition loyalty programs such as
Aeroplan in Canada, Nectar in the
U.K., and Air Miles Middle East, and through provision of loyalty
strategy, program development, implementation and management
services underpinned by leading products and technology platforms
such as the Aimia Loyalty Platform – Enterprise and Aimia Loyalty
Platform – SaaS, and through our analytics and insights business,
including Intelligent Shopper Solutions. In other markets, we own
stakes in loyalty programs, such as Club Premier in Mexico and Think Big, a partnership with Air
Asia and Tune Group. Our clients are diverse, and we have
industry-leading expertise in the fast-moving consumer goods,
retail, financial services, and travel and airline industries
globally to deliver against their unique needs.
For a full list of our partnerships and investments, and more
information about Aimia, visit www.aimia.com.
Forward-Looking Statements
Forward-looking statements are included in this news release.
These forward-looking statements are typically identified by the
use of terms such as "outlook", "guidance", "target", "forecast",
"assumption" and other similar expressions or future or conditional
terms such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "project", "will",
"would", and "should". Such statements may involve but are not
limited to comments with respect to strategies, expectations,
planned operations or future actions.
Forward-looking statements, by their nature, are based on
assumptions and are subject to important risks and uncertainties.
Any forecasts, predictions or forward-looking statements cannot be
relied upon due to, among other things, changing external events
and general uncertainties of the business and its corporate
structure. Results indicated in forward-looking statements may
differ materially from actual results for a number of reasons,
including without limitation, dependency on Significant
Accumulation Partners and clients, failure to safeguard databases,
cyber security and consumer privacy, reliance on Redemption
Partners, conflicts of interest, greater than expected redemptions
for rewards, regulatory matters, retail market/economic conditions,
industry competition, Air Canada liquidity issues or air travel
industry disruptions, airline industry changes and increased
airline costs, supply and capacity costs, unfunded future
redemption costs, changes to coalition loyalty programs, seasonal
nature of the business, other factors and prior performance,
foreign operations, legal proceedings, reliance on key personnel,
labour relations, pension liability, technological disruptions,
inability to use third-party software and outsourcing, failure to
protect intellectual property rights, interest rate and currency
fluctuations (including currency risk on our foreign operations
which are denominated in a currency other than the Canadian dollar,
mainly the pound sterling, and subject to fluctuations as a result
of foreign exchange rate variations), leverage and restrictive
covenants in current and future indebtedness, uncertainty of
dividend payments, managing growth, credit ratings, audit by tax
authorities, as well as the other factors identified throughout
Aimia's public disclosure records on file with the Canadian
securities regulatory authorities.
The forward-looking statements contained herein represent
Aimia's expectations as of the date hereof and are subject to
change after such date. However, Aimia disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as required under applicable securities regulations.
SOURCE AIMIA