Aimia will not redeem series 3 preferred shares; holders may convert

By Wendy Van Sickle

Columbus, Ohio, Feb. 22 – Aimia Inc. does not intend to exercise its right to redeem any of its 4,355,263 of outstanding cumulative rate-reset preferred shares, series 3, on March 31, according to a press release.

As a result, holders of the preferred shares have the right to convert their preferred shares on a one-for-one basis into series 4 cumulative floating-rate preferred shares on April 1.

Holders who do not exercise their right to convert on that date will continue to hold their preferred shares.

The conversion right is subject to the conditions that, if there are less than 1 million series 3 preferred shares outstanding on April 1, then all remaining series 3 shares will automatically be converted into series 4 shares on a one-for-one basis on April 1 and, alternatively, if Aimia determines that there would be fewer than 1 million series 4 shares after April 1, no series 3 shares will be converted into series 4 shares.

The dividend rate applicable to the series 3 preferred shares for the five-year period from and including March 31 to but excluding March 31, 2029 and the floating quarterly dividend rate applicable to the series 4 preferred shares for the period from and including March 31 to June 30 will be announced on March 1.

The conversion period runs form March 1 to 5 p.m. ET on March 18.

Aimia is a Montreal-based marketing and loyalty analytics company.

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