Mittleman Brothers LLC Responds to 33.3% Increase in Board Size of Aimia Inc. Only 17 Days after AGM and with No Input from 23.3% Shareholder
AIMIA INC (GAPFF)
Company Research
Source: PR Newswire
NEW YORK, July 16, 2019 /PRNewswire/ -- In response to investor inquiries, Mittleman Brothers LLC ("Mittleman" or "we" or "our"), a value-oriented investment firm which through subsidiaries and with affiliates is the largest shareholder of Aimia Inc. (TSX: AIM) ("Aimia" or the "Company") owning or exercising control over approximately 23.3% of its outstanding shares, today commented on the recent appointment of two new Directors to Aimia's board (the "Board").Aimia's appointment of these two new Directors was announced on July 15, 2019 and came only 17 days after the Company's annual general meeting on June 28, 2019 (the "AGM"). These two new Directors were not presented to or elected by shareholders at the AGM. Nor were their appointments discussed or canvassed in any way with Mittleman, Aimia's largest shareholder. Mittleman's nominee to the Board – Phil Mittleman – was only given notice of the proposed appointments on Sunday, mere hours before the Board meeting early Monday morn
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