07:37 AM EDT, 07/17/2024 (MT Newswires) -- Aimia ( AIMFF ) entered Wednesday into an agreement to purchase for cancellation 1.3 million of its common shares owned by Milkwood Capital (UK) Ltd. at a price per equal to the lesser of: one, $2.55 per share ; and two, an amount equal to 96% of the volume-weighted average price of the common shares of Aimia ( AIMFF ) on the TSX for the 3 trading days ending date of closing.

A statement noted the repurchase is scheduled to occur after close of markets on July 19.

The repurchase is part of the corporation's obligations under the settlement agreement between the parties that was announced on December 29, 2023. Other than the repurchase price, no fee or other consideration will be paid in connection with the repurchase. The repurchase will count towards the 7,009,622 common shares Aimia ( AIMFF ) is entitled to purchase for cancellation under its normal course issuer bid during the 12-month period beginning on June 6 and ending June 5, 2025.

Aimia ( AIMFF ) is a diversified company focused on unlocking the growth potential of its two global businesses, Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company.