Latest news with #AimiaInc
Cision Canada
02-07-2025
- Business
- Cision Canada
AIMIA PROVIDES UPDATE ON ITS SHARE BUYBACKS FOR JUNE 2025
TORONTO, July 2, 2025 /CNW/ - Aimia Inc. (TSX: AIM) announced that it repurchased and settled for cancellation a total of 1,083,400 of its common shares in the month of June 2025 under the Company's normal course issuer bid program (" NCIB"). The total represents 1.18% of Aimia's 91,731,985 common shares outstanding as at June 30, 2025. Aimia's NCIB is a component of the Company's strategy for enhancing shareholder value and reducing the discount of its share price relative to the intrinsic value of its net assets. Shares repurchased in June were at a weighted-average price of $2.77 per common share for a total settlement of $2,996,163 excluding brokerage fees. Through June 30, 2025, Aimia has repurchased and cancelled 6,669,332 common shares since it first announced its share buyback initiative on June 4, 2024 1. On June 4, 2025 Aimia announced the renewal of its NCIB through June 5, 2026 with approval to purchase for cancellation up to 5,906,629 of its common shares. 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. 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 SOURCE Aimia Inc.
Winnipeg Free Press
16-06-2025
- Business
- Winnipeg Free Press
Aimia reaches settlement deal with the Canada Revenue Agency, expects $27M refund
TORONTO – Aimia Inc. says it has reached a settlement with the Canada Revenue Agency and expects a refund of about $27 million in connection with a 2013 income tax audit of former subsidiary Aeroplan Inc. The company says it plans to use the money to help buy back shares and for general working capital purposes. Aimia sold Aeroplan to Air Canada in January 2019, but agreed to indemnify the airline for pre-closing income tax liabilities and put $100 million into an escrow account. In 2019, Aimia paid $32.9 million from the escrow account to the CRA and the provincial tax agency, Revenu Quebec, after a notice reassessment for the 2013 audit. The balance of the escrow account was released to Aimia in July 2020. Aimia says it will now seek the remaining $6 million from Revenu Quebec. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published June 16, 2025. Companies in this story: (TSX:AIM)
Cision Canada
16-06-2025
- Business
- Cision Canada
AIMIA REACHES SETTLEMENT WITH THE CANADA REVENUE AGENCY
TORONTO, June 16, 2025 /CNW/ - Aimia Inc. (TSX: AIM) announced today the successful resolution of its tax dispute with the Canada Revenue Agency ("CRA") and anticipates a refund of approximately $27 million pending final processing of the settlement agreement. The tax dispute relates to a 2013 income tax audit of Aimia's former subsidiary, Aeroplan Inc. All amounts are in Canadian currency. Aimia expects to use the proceeds from the CRA refund to support its 2025-2026 normal course issuer bid and for general working capital purposes. Aimia completed the sale of Aeroplan Inc. to Air Canada in January 2019. Under the terms of the purchase agreement, Aimia agreed to indemnify Air Canada for pre-closing income tax liabilities and put $100 million from the sale proceeds into an escrow account for such purposes. In 2019, Aimia remitted $32.9 million from the escrow account to the CRA and the provincial tax agency, Revenu Québec, upon receipt of a notice re-assessment for the 2013 tax audit. In July 2020, the balance of the escrow account, $67.1 million, was released to Aimia. With its tax dispute with the CRA now resolved, Aimia will seek recourse from Revenu Québec for the remaining $6 million portion of the 2013 tax audit. Aimia anticipates that a similar resolution is likely. 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 Forward-Looking Statements This press release contains statements that constitute "forward-looking information" within the meaning of Canadian securities laws ("forward-looking statements"), which are based upon our current expectations, estimates, projections, assumptions and beliefs. All information that is not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements are typically identified by the use of terms such as "expects" and "expected". Forward-looking statements in this press release include, but are not limited to, statements with respect to our current and future plans, expectations and intentions. Forward-looking statements, by their nature, are based on assumptions and are subject to known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statements will not occur. The forward-looking statements in this press release speak only as of the date hereof and reflect several material factors, expectations and assumptions. Undue reliance should not be placed on any predictions or forward-looking statements as these may be affected by, among other things, changing external events and general uncertainties of the business. A discussion of the material risks applicable to us can be found in our current Management Discussion and Analysis and Annual Information Form, each of which have been or will be filed on SEDAR and can be accessed at Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and we disclaim any intention and assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Cision Canada
02-06-2025
- Business
- Cision Canada
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, 2024 1. 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. 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
Yahoo
22-05-2025
- Business
- Yahoo
AIMIA CONFIRMS ELECTION OF DIRECTORS
TORONTO, May 22, 2025 /CNW/ - Aimia Inc. (TSX: AIM) announced today that all five nominees proposed for election to the Company's Board of Directors listed in its management information circular dated April 17, 2025 were elected at its Annual Meeting of Shareholders. The percentage of shares at the Meeting voting in favour of individual directors is as follows: Director % of Votes For % of Votes Against Robert Feingold 91.22 % 8.78 % Steven Leonard 93.39 % 6.61 % Thomas (Tom) Little 98.79 % 1.21 % Muhammad Asif Seemab 99.48 % 0.52 % Rhys Summerton 93.30 % 6.70 % Shareholders re-appointed PWC as Aimia's Auditors. Management's approach to executive compensation ("Say on Pay") disclosed in Aimia's management information circular dated April 17, 2025 was approved with 96.47% of shares represented at the meeting voting in favour. Aimia's full Report on Voting Results has been filed on SEDAR+ at About AimiaAimia 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 SOURCE Aimia Inc. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
