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TORONTO, May 2, 2025 /CNW/ - Aimia Inc. (TSX: AIM) announced that it repurchased for cancellation a total of 494,300 of its common shares from the period April 1 to April 30 2025 under the Company's normal course issuer bid program ("NCIB"). The total represents 0.52% of Aimia's common shares as at April 30, 2025.
Shares were repurchased at a weighted-average price of $2.44 per common share for a total settlement of $1,210,807, excluding brokerage fees. Through April 30, 2025, Aimia has repurchased in aggregate 4,147,600 common shares or 59.17% of the 7,009,622 common shares it is eligible to purchase under its NCIB first announced on June 4, 2024. Aimia launched its NCIB as part of its strategy to unlock shareholder value.
Aimia believes that the market price of its common shares may, from time to time, not reflect the inherent 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.
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 www.aimia.com
SOURCE Aimia Inc.
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