Thursday,  March 21, 2019  2:19 am

Air Canada wins Aimia Inc.'s approval to buy Aeroplan loyalty business


Air Canada wins Aimia Inc.'s approval to buy Aeroplan loyalty business

During a special meeting of common and preferred shareholders, Aimia Inc. voted to approve the two special resolutions previously announced regarding:

  • the sale to Air Canada of all of the issued and outstanding share capital of Aimia Canada Inc. ("Aimia Canada"), the owner and operator of the Aeroplan loyalty program (the "Transaction"); and
  • the reduction of the stated capital of Aimia's common shares to an aggregate amount of not less than $1,000,000 pursuant to subsection 38(1) of the Canada Business Corporations Act (the "Stated Capital Reduction").

READ MORE: Air Canada clears regulatory requirements on Aimia's Aeroplan business

The resolution regarding the Transaction was approved by holders representing 96 per cent of Aimia's common shares and preferred shares who voted on the Transaction on a combined basis and the resolution regarding the Stated Capital Reduction was approved by holders representing 78 per cent of Aimia's common shares who voted on the resolution regarding the Stated Capital Reduction.

Final voting results of the Meeting will be filed with the Canadian securities regulators at www.SEDAR.com.

With all regulatory and shareholder approvals now having been obtained, Aimia expects the Transaction to close in the coming days.

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