Breach Inlet Capital pressures board at Aimia

Apr. 05, 2019 8:09 AM ETAimia Inc. (AIMFF), AIM:CABy: Clark Schultz, SA News Editor7 Comments
  • Breach Inlet Capital issues a letter to the board at Aimia (GAPFF) outlining concerns on the operating business and capital allocation strategy,
  • Recommendations from the investment firm to Aimia include replacing legacy directors with "proven" capital allocators, closing the ILS segment to eliminate forecasted losses and cutting corporate expenses. Breach would also like buybacks increased if AIM's share price stays at a discount to NAV.
  • Breach Inlet Capital holds ~1.2M shares of Aimia
  • Shares of Aimia are up 8.2% YTD.

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