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BRIEF-Breach Inlet Capital Delivered A Letter To Board Of Directors Of Aimia

Published 2019-04-04, 04:34 p/m
BRIEF-Breach Inlet Capital Delivered A Letter To Board Of Directors Of Aimia

April 4 (Reuters) - Breach Inlet Capital, LP:

* BREACH INLET CAPITAL SENDS LETTER TO BOARD OF AIMIA INC.

* BREACH INLET CAPITAL - DELIVERED A LETTER TO BOARD OF DIRECTORS OF AIMIA

* BREACH INLET CAPITAL - OWNS ABOUT 1.2 MILLION SHARES OF AIMIA INC

* BREACH INLET CAPITAL - LETTER OUTLINES BREACH'S CONCERNS WITH AIMIA'S BOARD, EXISTING OPERATING BUSINESS, & RECENTLY-ANNOUNCED CAPITAL ALLOCATION STRATEGY

* BREACH INLET CAPITAL SAYS "REMAIN STEADFAST IN OUR BELIEF" THAT AIMIA TRADES "FOR A SUBSTANTIAL DISCOUNT TO THE COMPANY'S NET ASSET VALUE"

* BREACH INLET CAPITAL SAYS RECOMMENDS AIMIA REPLACE (4) LEGACY DIRECTORS WITH "PROVEN CAPITAL ALLOCATORS"

* BREACH INLET CAPITAL SAYS RECOMMENDS AIMIA "CLOSE THE ILS SEGMENT TO ELIMINATE FORECASTED LOSSES"

* BREACH INLET CAPITAL SAYS RECOMMENDS AIMIA "INITIATE A FORMAL PROCESS TO MONETIZE MINORITY INVESTMENTS"

* BREACH INLET CAPITAL SAYS RECOMMENDS AIMIA "DO NOT PURSUE ANY ACQUISITIONS UNTIL AFTER THE 2019 AGM"

* BREACH INLET CAPITAL SAYS FOLLOWING AIMIA'S 2019 AGM, RECOMMENDS AIMIA "PURSUE M&A ACROSS ALL INDUSTRIES AND NOT JUST WITHIN LOYALTY & TRAVEL"

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