Mithaq and Aimia sign cooperation agreement
On October 31, 2024, Mithaq Capital SPC ("Mithaq"), the largest shareholder of Aimia Inc. ("Aimia"), announced that it entered into a cooperation agreement with Aimia that will result in the dismissal of all outstanding litigation between the two parties.
Under the terms of the cooperation agreement:
- Aimia agreed to appoint two Mithaq nominees, Muhammad Asif Seemab and Rhys Summerton, to its board of directors (the "Board");
- Aimia agreed to grant customary pre-emptive and registration rights to Mithaq;
- Mithaq agreed to customary standstill provisions through March 31, 2026; and
- Mithaq will undertake to vote in favour of Aimia's management nominees at Aimia's 2025 annual general meeting.
Aimia has also agreed to pay Mithaq US$1.5 million as reimbursement for third-party fees, costs, and expenses incurred by Mithaq in connection the outstanding litigation between the parties.
Further information can be found on Canada Newswire’s website.
Mithaq is a segregated portfolio company and affiliate of Mithaq Holding Company, a family office based in Saudi Arabia with investments in public equities, real estate, private equity and income-producing assets in local and international markets.
Aimia is a public holding company with a focus on making long-term investments in public and private companies, through controlling or minority stakes.