MONTREAL, May 3, 2012 /CNW Telbec/ - Groupe Aeroplan Inc., doing business as Aimia ("Aimia") (TSX: AIM) announced today that it has received approval from the Toronto Stock Exchange respecting the renewal of its normal course issuer bid to purchase for cancellation up to 17,179,599 of its common shares, or 10% of the public float of 171,795,996 common shares as at May 3, 2012, through the facilities of the Toronto Stock Exchange and through alternative trading systems (such as Alpha ATS), or by other means as may be permitted by the TSX, such as prearranged crosses, exempt offers and block purchases, during the period from May 16, 2012 to no later than May 15, 2013. Aimia may also purchase common shares for cancellation by way of private agreements under an issuer bid exemption order issued by a securities regulatory authority. Purchases made on the open market through the facilities of the TSX and alternative trading systems will be at the prevailing market price at the time of acquisition. Purchases made by way of private agreements under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price as provided in the exemption order. As at May 3, 2012 there were 172,093,933 common shares issued and outstanding.
The average daily trading volume on the Toronto Stock Exchange for the past six months was 518,731 common shares. Under the regulations of the Toronto Stock Exchange, a maximum daily repurchase of 25% of this average may be made, representing 129,682 common shares. In addition, Aimia may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) of common shares not directly or indirectly owned by insiders of Aimia, in accordance with the regulations of the Toronto Stock Exchange. The common shares purchased pursuant to the normal course issuer bid will be cancelled.