MONTREAL, April 2, 2020 /CNW Telbec/ - Aimia Inc. (TSX:
AIM) ("Aimia" or the "Company") today announced that its
Board of Directors (the "Board"), as part of its ongoing
review of the Company's strategy, operations and policies, has
appointed an ad hoc Investment Committee comprised of members of
the Board to oversee Aimia's significant cash and investments on
hand. The Board also has broadened the Company's investment policy
to permit Aimia to invest excess cash, recorded in the Company's
financial statements as short-term investments, long-term
investments and cash and cash equivalents, in a diversified
portfolio of public company securities, fixed income securities and
hybrid securities. This is in addition to existing permitted
investments in investment grade commercial paper and corporate,
federal and provincial government bonds, and bankers' acceptances
or term deposits.
The Board believes these amendments will afford it increased
flexibility in managing the Company's cash and investments to
provide a rewarding return to shareholders, while also providing
greater diversification in its investment portfolio.
About Aimia
Aimia Inc. (TSX: AIM) 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.
Aimia is focused on growing earnings through its existing
business and investments, including 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.
For more information about Aimia, visit corp.aimia.com.
Forward-Looking Statements
Forward-looking statements are included in this release. These
forward-looking statements are identified by the use of terms such
as "will afford" and similar terms and phrases. Such statements
involve, but are not limited to, comments with respect to
investment oversight, returns and diversification.
Forward-looking statements, by their nature, are based on
assumptions and are subject to important risks and uncertainties.
Such risks include, among other things, market volatility, changing
external events and general uncertainties of investment in public
company securities. Results indicated in forward-looking statements
may differ materially from actual results for a number of reasons.
The forward-looking statements contained herein represent Aimia's
expectations as of April 2, 2020, 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.
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SOURCE Aimia Inc.