• Mithaq requires the board to comply with securities laws and reporting requirements
• The stalling continues a worrying trend of flouting rules that protect shareholder democracy

TORONTO, April 19, 2023 /CNW/ – Mithaq Capital SPC (“Mithaq“), the largest shareholder of Aimia Inc. GOAL (“Aimia“), which holds 19.9% ​​of Aimia’s common stock, requested Aimia’s Board of Directors (the “plank“) to end the delay and the full voting results of the annual general meeting of shareholders (the “Meet“) held April 18, 2023.

In accordance with applicable securities laws, Aimia is required to publish voting results promptly after the conclusion of the meeting. However, more than 24 hours have passed and Aimia has not done so.

As reported at the meeting, the chairman of Aimia said, David Rosenkrantz, was not re-elected and Aimia’s “Say on Pay” advisory resolution failed. Curiously, continued in Aimia’s press release April 18, 2023 Regarding the outcome of the meeting, the Board considered it appropriate to exclude the detailed voting results required by securities laws and did not comment on the failure of the say-on-pay resolution and its compensation approach.

These delaying tactics and lack of transparency demonstrate a fundamental lack of respect for shareholder democracy. Shareholders and market participants deserve to know the full details of the vote, and that right is protected by securities laws.

Aimia shareholders should be wondering why the board is reluctant to release the results. Could it be that the board, feeling embarrassed by the strong signal being given by numerous disaffected shareholders voting against directors and for board-level changes, is trying to bury news of actual results? Is Aimia trying to disqualify votes to change results?

In addition, the Board’s statement that they intend to ask Mr. Rosenkrantz to remain in office for an additional 90 days despite the shareholders electing him from the Board, although permitted by law, is unnecessary and shows a disregard for shareholders’ wishes .

Mithaq has previously detailed…