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Aimia Inc. announced its intention to admit 88,121,585 Common shares of no par value to trading on AIM on 22 September 2026, with no capital to be raised. On 29 May 2026, Aimia completed the sale of its 94.18% interest in Bozzetto for net proceeds of C$270 million and subsequently repurchased approximately C$131.4 million principal amount of its 9.75% Senior Unsecured Notes due 2030. Zeus Capital Limited has been appointed as the Nominated Adviser and Broker for the AIM admission.
| Date | 10 Sept 2026 |
| Time | 16:00:00 |
| Category | Corporate updates |
| ID | 3080U |
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ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") |
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COMPANY NAME: |
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Aimia Inc. ("Aimia" or the "Company")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES): |
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Registered Office and Trading Address 1 University Avenue 3rd Floor Toronto Ontario Canada M5J 2P1
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COUNTRY OF INCORPORATION: |
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Canada
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: |
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY. IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: |
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Aimia is a TSX quoted company (it is also quoted on the JSE) that owns a selection of businesses which include: (i) a 100% interest in Cortland International Inc. ("Cortland"), a global designer, manufacturer and supplier of synthetic fiber ropes, nets, slings and tethers; (ii) a 10.85% indirect stake, in Clear Media Limited ("Clear Media"), the largest operator of bus shelter advertising panels in China, which is headquartered in Hong Kong and incorporated and registered in Bermuda and includes JCDecaux SA as one of its major shareholders; and (iii) the Company holds a portfolio of publicly-listed securities amounting C$12 million as of 30 June 2026.
On 29 May 2026, Aimia completed the sale of its interest in Chem Italia S.r.l. together with Giovanni Bozzetto S.p.A. and its other subsidiaries ("Bozzetto") to One Equity Partners, for net proceeds of C$270 million. Aimia deployed C$131.4 million of these proceeds to purchase, under the terms of a trust indenture dated 14 January 2025 (the "Indenture") which issued senior unsecured notes each carrying interest of 9.75% (the "Notes"), any of the Notes that were validly tendered pursuant to the terms of the Indenture. Further details of the Indenture and the redemption of the Notes is set out in the Appendix to this Schedule. Aimia intends to use the remaining net proceeds to make investments in undervalued companies, fund its 2026-2027 normal course issuer bid (a Canadian form of an on-market share buyback programme), and for general working capital purposes.
Cortland, incorporated and registered in Canada but with operations overseas, is the primary core holding of the Company. Cortland's main countries of operations are the United States of America and India. Aimia's corporate activities are carried out in Canada.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): |
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88,121,585 Common shares of no par value each ("Common Shares") are to be admitted to trading.
Issue price: TBC pence (C$TBC)
No Common Shares are held in treasury.
There are no restrictions on the transfer of Common Shares.
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: |
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Capital to be raised on admission to AIM ("Admission"): None
Market Capitalisation on Admission: £ TBC /(C$TBC)
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
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43.63 per cent.
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED: |
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Aimia's Common Shares are currently admitted to trading on the Toronto Stock Exchange (the "TSX"), with ticker AIM, and the Johannesburg Stock Exchange (the "JSE"), with ticker AII.
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known): |
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Rhys Drennan Summerton - Executive Chair Steven Clark Leonard - President and Chief Financial Officer Thomas Edward Little - Lead Independent director Robert Matthew Feingold - Non-executive director Muhammad Asif Seemab - Non-executive director
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known): |
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
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None
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information) (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19: |
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(i) 31 December (ii) N/A (iii) 30 June 2027 (audited accounts for the year ending 31 December 2026) 30 September 2027 (interim accounts for the 6 months ending 30 June 2027) 30 June 2028 (audited accounts for the year ending 31 December 2027)
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EXPECTED ADMISSION DATE: |
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22 September 2026
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NAME AND ADDRESS OF NOMINATED ADVISER: |
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Zeus Capital Limited 82 King Street Manchester M2 4WQ
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NAME AND ADDRESS OF BROKER: |
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Zeus Capital Limited 82 King Street Manchester M2 4WQ
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: |
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N/A (quoted applicant)
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THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY |
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The Canadian Corporate Governance Code
(As set out in: Canadian National Policy 58-101 - Disclosure of Corporate Governance practices; Canadian National Policy 58-201 - Corporate Governance Guidelines; and Multilateral Instrument 52-110 - Audit Committees.)
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DATE OF NOTIFICATION: |
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10 September 2026 |
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NEW/ UPDATE: |
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Update
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QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING: |
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THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED: |
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The relevant AIM Designated Market is: Toronto Stock Exchange ("TSX")
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THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED: |
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29 June 2005.
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CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY BREACH: |
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Following due and careful enquiry, the applicant confirms that it has adhered to any legal and regulatory requirements involved in having its securities admitted to trading on the TSX and the JSE.
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AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE: |
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DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY: |
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Aimia will pursue a disciplined value creation strategy focused on acquiring and holding controlling interests in companies globally that possess consistent earnings, generate free cash flow, and have catalysts for growth.
Aimia's priorities include increasing its intrinsic value, reducing holding company costs, reducing the discount of its share price to the intrinsic value of its businesses, and redeploying capital to make investments in undervalued companies. It will also look to utilizing available tax losses to create shareholder value.
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A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED: |
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Since 31 December 2025, being the date to which the Company's latest published audited financial statements were prepared, the following significant events have occurred:
1. Disposal of Chem Italia S.r.l. together with Giovanni Bozzetto S.p.A. and its other subsidiaries ("Bozzetto")
On 29 May 2026, the Company completed the sale of its 94.18% interest in Bozzetto, which represented a material component of the Group's operations. The proposed disposal was disclosed in the Company's unaudited quarterly financial statements for the three months ended 31 March 2026, in which the assets and liabilities of Bozzetto were classified as held for sale.
Completion of the transaction resulted in:
a) the derecognition of the assets and liabilities associated with Bozzetto from the Group's consolidated balance sheet. As at 31 March 2026, the net assets attributable to Bozzetto were approximately C$244.6 million;
b) the receipt by the Company of net cash proceeds of approximately C$270 million; and
c) the recognition of a gain on disposal of approximately C$21.7 million.
The disposal has materially changed the composition of the Group's assets, liabilities and operations.
2. Repurchase of 9.75% Senior Unsecured Notes due 2030 As at 31 December 2025, the Company had outstanding 9.75% senior unsecured notes due 2030 with an aggregate principal amount of approximately CAD$142.6 million. Pursuant to the terms of the notes, completion of the Bozzetto disposal triggered an obligation for the Company to offer to repurchase the notes from holders.
Following completion of the disposal, the Company repurchased approximately CAD$131.4 million principal amount of the notes, resulting in a corresponding reduction in the Group's indebtedness and cash resources.
Save as disclosed above, there has been no significant change in the financial or trading position of the Group since 31 December 2025.
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A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION: |
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The Directors of the applicant are of the opinion, having made due and careful enquiry, that the working capital available to it and its group will be sufficient for at least the period of 12 months from the date of Admission.
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DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES: |
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N/A. Rule 7 of the AIM Rules does not apply to the applicant as the applicant's main activity has been independent and revenue earning for more than 2 years.
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A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES: |
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UK Registered Shareholders and CREST To be traded on AIM, securities must be able to be held in electronic as well as in paper form. The UK system that facilitates this is called the CREST system; the Canadian equivalent of this system is called CDS. In order to transfer and settle certain overseas securities through CREST, in this case the Common Shares, the overseas securities need to be in the form of Depositary Interests ("DIs").
The Company, through its depositary, MUFG Corporate Markets Trustees (UK) Limited (the "Depositary"), will have a facility whereby (pursuant to a depositary deed executed by the Depositary) DIs, representing Common Shares, will be issued by the Depositary to persons who wish to hold the Common Shares in electronic form within the CREST System. Under the depositary deed, the Depositary (or its nominee) will hold Common Shares in certificated form on trust for shareholders and it will issue uncertificated Dls (on a one-for-one basis) representing those underlying Common Shares and provide the necessary custodian services. The relevant Shareholders will retain the beneficial interest in the Common Shares, held through the DI facility, and voting rights, dividends and any other rights relating to those Common Shares will be passed on by the Depositary (or its nominee) in accordance with the terms of the depositary deed. The DIs can then be traded and settlement can be effected within the CREST system in the same way as for any other CREST security.
Further information regarding the depositary arrangement and the holding of Common Shares in the form of DIs is available from the Depositary who may be contacted at MUFG Corporate Markets Trustees (UK) Limited, Central Square, 29 Wellington Street, Leeds LS1 4DL.
Canadian Registered Shareholders and CDS The Common Shares will remain listed and traded on the TSX, with trades settled electronically on the Canadian registry through the CDS system.
South African Registered Shareholders and Strate The Common Shares will also remain listed and traded on the JSE, with trades settled electronically on the South African registry through the Strate system.
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A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES: |
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https://www.aimia.com/investor-relations/corporate-documents/
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INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC: |
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Any information equivalent to that required for an admission document which is not currently public is included in the Appendix to this Schedule and is available on the Company's website: https://www.aimia.com/investor-relations/corporate-documents/
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A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE 19: |
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https://www.aimia.com/investor-relations/financial-reports/
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THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY: |
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No Common Shares are held in treasury. |