Our award-winning Special Situations team secured a win for Aimia Inc. in a high-profile battle for control of the Company. The team succeeded in assisting Aimia in getting all seven of its nominees elected to the board of directors at its 2024 AGM during a contested meeting where dissident shareholder Mithaq Capital SPC attempted to propose a slate of six dissident nominees. Mithaq Capital SPC owns approximately 27% of the issued and outstanding shares of Aimia.

Additionally, our Toronto office had previously advised Aimia in connection with its contested 2023 AGM, the closing of a strategic private placement in October 2023 (the “2023 private placement”), the successful defense against an unsolicited take-over bid from Mithaq Capital SPC, which expired in February 2024, and the termination of existing agreements with Paladin Private Equity, LLC, and a related private placement.

Our Toronto team also represented Aimia in successfully defending against Mithaq's application to the Capital Markets Tribunal of the Ontario Securities Commission to cease trade in the 2023 private placement, resulting in a leading decision in Canada on the validity of private placements in the face of proxy battles and take-over bids.


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