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.
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 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.
SOURCE Aimia Inc.
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