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Aimia Repurchases 0.25% of Shares Under NCIB in May

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Aimia (AIM.TO) has repurchased and settled for cancellation 0.25% of its common shares outstanding in May under its normal course issuer bid (NCIB) program, the diversified conglomerate said Monday.

The company repurchased 224,400 of its common shares in May at a weighted average price of $2.70 per share or $606,220 in total, excluding brokerage fees.

Through May 31, Aimia has repurchased and cancelled 9,835,432 common shares since it first announced its share buyback initiative on June 4, 2024.

Aimia believes that the market price of its common shares may not reflect the company's value from time to time, and that repurchasing the shares pursuant may represent an appropriate and desirable use of the company's funds.

"Therefore, Aimia believes that it is in its best interest to proceed with this NCIB, while maintaining sufficient financial flexibility to execute on the company's future strategic direction and capital allocation priorities," the company said.

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