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  5. AIM: Hi, The last question asked in 5i about this company was by me nearly a year ago. [Aimia Inc.]
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Q: Hi,

The last question asked in 5i about this company was by me nearly a year ago. Since then they have purchased a few companies some of which are loss making and that they seem to have overpaid for, They blew most of the $541 million they had and the companies they purchased are in India/Italy where they can't use their tax losses. Admin. expenses have skyroccketed. Now there's a proxy fight. I'm thinking I should vote my shares with the minority (26%) shareholder to replace the management of the company. It seems like they are a bloated, self serving group of directors/managers that should be booted. They still have around $100 million that they haven't blown yet. What do you think?

Dave
Asked by DAVE on June 14, 2024
5i Research Answer:

We would fully agree. It has been, as we say in the business, a 'bag of hammers'. It has lost money every year of the past 10, and now even cash flow is running negative (-$12M last year). Mithaq and other shareholders have every right to be very angry, and we think any change here would be one for the better.