- Aimia (AIM) has received TSX approval for a normal course issuer bid (NCIB)
- It may purchase up to 7,780,322 of its common shares, or approximately 10 per cent of its public float, between June 21, 2022 and June 20, 2023
- The company is pursuing the NCIB to capitalize on potential discounts to its business’ inherent value
- Aimia is a holding company making long-term investments in public and private companies
- Aimia (AIM) closed down by 0.25 per cent trading at $4.07 per share
Aimia (AIM) has received TSX approval for a normal course issuer bid (NCIB).
It may purchase up to 7,780,322 of its common shares, or approximately 10 per cent of its public float, between June 21, 2022 and June 20, 2023.
It can make daily purchases of up to 25 per cent of the average daily trading volume on the TSX for the past six months, which represents 43,212 common shares. In addition, it may make one weekly block purchase of shares not directly or indirectly owned by insiders.
The company may also purchase shares pursuant to exemption orders from securities regulatory authorities at a discount to the prevailing market price.
Aimia is pursuing the NCIB to capitalize on potential discounts to its business’ inherent value. Over the past 12 months, it has purchased 543,276 common shares at a weighted average price of C$4.86.
As of June 7, 2022, the company had 91,944,936 common shares issued and outstanding.
Aimia is a holding company making long-term investments in public and private companies. Current investments include PLM Premier, Clear Media Limited, Kognitiv and TRADE X.
Aimia (AIM) closed down by 0.25 per cent trading at $4.07 per share.
