Endeavour Announces Results of Annual General Meeting 2025
ANNUAL GENERAL MEETING 2025
London, 23 May 2025 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) ('the Company') is pleased to announce that all resolutions at yesterday's annual general meeting ('AGM') were duly passed by shareholders.
All resolutions were taken by poll and the results for the resolutions voted upon at the AGM are set out below:
As at the UK record date for the AGM (20 May 2025), the total number of issued ordinary shares of the Company was 242,212,493 and there were 103,147 ordinary shares held in treasury. The total number of voting rights for the ordinary shares was therefore 242,109,346.
A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'for' or 'against' a resolution.
Copies of the resolutions passed at the AGM, other than resolutions concerning ordinary business, will shortly be uploaded to the FCA's National Storage Mechanism in accordance with UK Listing Rule 14.3.6 R(2) and will be available to view at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
.
CONTACT INFORMATION
ABOUT ENDEAVOUR MINING PLC
Endeavour Mining is one of the world's senior gold producers and the largest in West Africa, with operating assets across Senegal, Côte d'Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.
A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering meaningful value to people and society. Endeavour is admitted to listing and to trading on the London Stock Exchange and the Toronto Stock Exchange, under the symbol EDV.
For more information, please visit
www.endeavourmining.com
.
Attachment
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
Kraken Robotics Schedules Q2 2025 Financial Results Release and Webcast
ST. JOHN'S, Newfoundland and Labrador, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ('Kraken' or the 'Company') (TSX-V: PNG, OTCQB: KRKNF) announces that it will release second quarter 2025 financial results at 6:30am ET on Thursday, August 21, 2025. The Company has also scheduled a webcast to discuss results on Thursday, August 21, 2025 at 8:30am ET. The webcast will be hosted by Greg Reid, President and Chief Executive Officer and Joe Mackay, Chief Financial Officer of Kraken Robotics and will cover second quarter 2025 results ending June 30, 2025. Webcast Details: Date: Thursday, August 21, 2025 Time: 8:30am ET Registration URL: 1: Kraken SAS integrated on a REMUS 300 Uncrewed Underwater Vehicle ABOUT KRAKEN ROBOTICS Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably. Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide. LINKS: SOCIAL MEDIA:LinkedIn Twitter Facebook YouTube Instagram FORWARD-LOOKING STATEMENTSCertain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release. For further information: Erica Hasenfus, Director of Joe MacKay, Chief Financial Officer(416) 303-0605jmackay@ Greg Reid, President & CEO(416) 818-9822greid@ Sean Peasgood, Investor Relations(647) 955-1274sean@ A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
2 hours ago
- Business Wire
Gold Reserve Provides Update on Adjournment of August 18, 2025 Sale Hearing
PEMBROKE, Bermuda--(BUSINESS WIRE)--Gold Reserve Ltd. (TSX.V: GRZ) (BSX: (OTCQX: GDRZF) ('Gold Reserve' or the 'Company') announces that the U.S. District Court for the District of Delaware (the 'Court') issued an order today in which it adjourned the start of the Sale Hearing from the currently scheduled August 18, 2025, to an as-yet unspecified future date. The Court also requested further briefing from the parties, and scheduled an in-person hearing on August 18, 2025, on this and related issues. The Court stated its rationale for the adjournment as follows: The Court reaches this conclusion reluctantly, but in the face of the following realities: a Sale Hearing held on August 18 would be directed to evaluating whether to accept the Special Master's recommendation to approve the Dalinar Energy bid, but the Special Master has recently received an unsolicited bid he is currently evaluating and which he may determine is a "Superior Proposal" to Dalinar's (as defined in the Dalinar SPA); if the Special Master determines he has received a Superior Proposal, Dalinar is entitled to time to match it; although all discovery undertaken and briefing received to date is directed to the Dalinar bid, there is some possibility the Special Master may no longer be recommending approval of that bid, which could render a Sale Hearing focused on the Dalinar bid unnecessary. While Gold Reserve may be correct that the unsolicited bid presently being evaluated is "a non-actionable underbid" (O.I. 2050 at 2) (emphasis omitted), the Court is not able to make a determination on this point in time to go forward with a Sale Hearing four days from now, especially since the Special Master has not yet completed his evaluation of the unsolicited bid. The Court stated its 'inclinations as to appropriate next steps' as follows: At this time, the Court's inclinations as to the appropriate next steps are to: (i) order the Special Master to determine, no later than August 25, whether he is adhering to his recommendation of the Dalinar bid or, instead, has received a Superior Proposal; (ii) order the Special Master to submit, no later than August 29, a proposed schedule for additional limited discovery, if any, necessitated by whatever decision he has made by August 25 and any additional, streamlined briefing; (iii) reschedule the Sale Hearing for some or all of the following dates: September 15-18, October 20-23; (iv) require any entity intending to participate in the Sale Hearing to request a specific, total number of hours it will use at the hearing for its examination of witnesses and argument (to include opening statements and closing arguments); and (v) provide a schedule and page limits for expedited post-hearing briefing and submission of proposed findings of fact. The Court summarized its Order, and requested further briefing from the Special Master and parties on the foregoing inclinations, as follows: ORDER: The Sale Hearing is CONTINUED to a date to be determined by separate order, after the Court receives additional input from the Special Master, Sale Process Parties, Additional Judgment Creditors, and any other interested entity. IT IS FURTHER ORDERED that the Saturday, August 16 deadline for sur-replies in response to pending objections is VACATED. The Court will hold an in-person hearing on Monday, August 18, at 10:00 a.m. at the J. Caleb Boggs Federal Building, Courtroom 2A. The hearing is not an evidentiary hearing and all witnesses who were planning to testify are excused from appearing in Wilmington next week. The Special Master and Sale Process Parties shall, and any Additional Judgment Creditor or other interested entity may, (i) file opening briefs regarding the above inclinations, not to exceed 5 pages, no later than Saturday, August 16, at 12:00 p.m., and (ii) file response briefs, not to exceed 3 pages, no later than Sunday, August 17, at 5:00 p.m. A copy of the Court's Order, the adjournment request, and the Company's opposition to the adjournment request will be posted shortly here. A complete description of the Delaware sale proceedings can be found on the Public Access to Court Electronic Records system in Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its related proceedings. Cautionary Statement Regarding Forward-Looking statements This release contains 'forward-looking statements' within the meaning of applicable U.S. federal securities laws and 'forward-looking information' within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve's and its management's intentions, hopes, beliefs, expectations or predictions for the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. They are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements contained in this press release include, but are not limited to, statements relating to any bid submitted by the Company for the purchase of the PDVH shares (the 'Bid'). We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual events, outcomes or results of Gold Reserve to be materially different from our estimated outcomes, results, performance, or achievements expressed or implied by those forward-looking statements, including but not limited to: the discretion of the Special Master to consider the Bid, to enter into any discussions or negotiation with respect thereto; the Bid will not be approved by the Court as the 'Final Recommend Bid' under the Bidding Procedures, and if approved by the Court may not close, including as a result of not obtaining necessary regulatory approvals, including but not limited to any necessary approvals from the U.S. Office of Foreign Asset Control ('OFAC'), the U.S. Committee on Foreign Investment in the United States, the U.S. Federal Trade Commission or the TSX Venture Exchange; failure of the Company or any other party to obtain sufficient equity and/or debt financing or any required shareholders approvals for, or satisfy other conditions to effect, any transaction resulting from the Bid; that the Company may forfeit any cash amount deposit made due to failing to complete the Bid or otherwise; that the making of the Bid or any transaction resulting therefrom may involve unexpected costs, liabilities or delays; that, prior to or as a result of the completion of any transaction contemplated by the Bid, the business of the Company may experience significant disruptions due to transaction related uncertainty, industry conditions, tariff wars or other factors; the ability to enforce the writ of attachment granted to the Company; the timing set for various reports and/or other matters with respect to the Sale Process may not be met; the ability of the Company to otherwise participate in the Sale Process (and related costs associated therewith); the amount, if any, of proceeds associated with the Sale Process; the competing claims of other creditors of Venezuela, PDVSA and the Company, including any interest on such creditors' judgements and any priority afforded thereto; uncertainties with respect to possible settlements between Venezuela and other creditors and the impact of any such settlements on the amount of funds that may be available under the Sale Process; and the proceeds from the Sale Process may not be sufficient to satisfy the amounts outstanding under the Company's September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement in full; and the ramifications of bankruptcy with respect to the Sale Process and/or the Company's claims, including as a result of the priority of other claims. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. For a more detailed discussion of the risk factors affecting the Company's business, see the Company's Management's Discussion & Analysis for the year ended December 31, 2024 and other reports that have been filed on SEDAR+ and are available under the Company's profile at Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to Gold Reserve or persons acting on its behalf are expressly qualified in their entirety by this notice. Gold Reserve disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to its disclosure obligations under applicable rules promulgated by applicable Canadian provincial and territorial securities laws. For further information regarding Dalinar Energy, visit:
Yahoo
4 hours ago
- Yahoo
AIMIA REPORTS SECOND QUARTER 2025 RESULTS; RE-ITERATES AEBITDA GUIDANCE AND LOWERS HOLDCO COST TARGET FOR THE YEAR
TORONTO, Aug. 14, 2025 /CNW/ - Aimia Inc, (TSX: AIM) ("Aimia" or the "Company"), today reported its financial results for the three and six months ended June 30, 2025. All amounts are in Canadian currency unless otherwise noted. SENIOR LEADERSHIP COMMENTARY "Our performance in Q2 reflected the progress we made against the three-step strategy we launched earlier this year to become a permanent capital vehicle," said Rhys Summerton, Aimia's Executive Chairman. "We reduced HoldCo costs to $2 million, allocated $8.2 million towards share buybacks, and took steps to determine the market value of our core holdings. This progress was made while we sustained the momentum of our core holdings and generated improvements to a number of key financial metrics in spite of challenging macro-economic conditions." Mr. Summerton added, "With an increased focus on value creation, we expect our performance over time will be better measured by improvements to our balance sheet rather than traditional quarterly reporting metrics. During the transition, we anticipate supplementing our financial reporting with increased disclosure on our net asset value." "Despite the emergence of economic uncertainty due to the latest round of U.S. tariffs against markets that Bozzetto and Cortland operate in or sell into, the performance of our core holdings through the mid-point of the year puts them on track to meeting our target for 2025 for Adjusted EBITDA on a combined basis," said Steven Leonard, Aimia's President and Chief Financial Officer. "As a result, we are re-iterating our guidance for Adjusted EBITDA, albeit at the lower end of the range." Mr. Leonard added, "Given our progress at lowering HoldCo costs to date, we are lowering our cost guidance and expect costs to be $9 million for the year exclusive of one-time expenses, down from $11 million initially forecast." AIMIA'S Q2 2025 HIGHLIGHTS Reported consolidated revenue of $128.7 million, up 5.1% from $122.4 million generated in Q2 2024. The growth was driven by a number of developments including the positive impact of foreign currency fluctuations relative to the Canadian dollar, higher contributions from Cortland due to stronger customer demand for its rope and netting products, and improved results from Bozzetto's Dispersion Solutions sector. On a constant currency basis, consolidated revenue was flat when compared to last year. Generated consolidated Adjusted EBITDA of $19.7 million, up 60% from $12.3 million reported in Q2 2024. The $7.4 million improvement was mainly driven by cost-cutting initiatives at the Holdings segment totaling $1.4 million and the positive impact of currency fluctuation of $1 million. In Q2 2024 Aimia incurred expenses of $2.9 million related to shareholder activism and $1.2 million of advisory fees for Cortland. Generated cash flow from operating activities of $9.4 million, a positive turnaround of $22.6 million from Q2 2024, which included a number of one-time expenses. Reported a consolidated net loss of $6.1 million or $0.08 per common share. Ended Q2 2025 with cash and cash equivalents of $70.5 million. Received overwhelming shareholder approval at its annual general meeting for its slate of directors and strategic plan aimed at reducing holding company costs, reducing the discount of its share price to the intrinsic value of its net assets, and efficiently utilizing its loss-carry forwards to create shareholder value. Renewed a normal course issuer bid to purchase for cancellation up to 5.9 million of its common shares, representing 10% of its public float as at May 30, 2025. As at August 13, Aimia had purchased for cancellation 1.3 million shares or 21.4% of allowable purchases. Reached settlement with the Canada Revenue Agency for a tax dispute relating to a tax audit of Aimia's former subsidiary, Aeroplan Inc. Aimia anticipates a refund of $27 million pending final processing of the settlement agreement. In addition, Aimia will seek a refund from Revenu Québec for the remaining $6 million portion related to the same tax audit. HIGHLIGHTS SUBSEQUENT TO QUARTER END Consistent with its three-step strategy previously disclosed, Aimia initiated efforts to determine the market value of its core holdings with the support of financial advisors. The Company will provide updates as material developments unfold. CONSOLIDATED FINANCIAL HIGHLIGHTS Aimia 3-Months Ended June 30 6-Months Ended June 30 (in $millions except for margin and per share data) 2025 2024 Change 2025 2024 Change Revenue 128.7 122.4 5.1 % 258.5 244.5 5.7 % Gross Profit 34.9 31.5 10.8 % 70.5 65.8 7.1 % Gross Margin 27.1 % 25.7 % 1.4 pp 27.3 % 26.9 % 0.4 pp Selling, general and administrative expenses (25.9) (38.5) 32.7 % (51.4) (73.5) 30.1 % Operating Income (loss) 9.0 (7.0) NM 19.1 (7.7) NM Adjusted EBITDA1 19.7 12.3 60.2 % 39.4 19.0 107.4 % Net earnings (loss) (6.1) (5.6) (8.9) % (5.7) (10.1) 43.6 % Earnings (loss) per share (0.08) (0.10) 20.0 % 0.48 (0.19) NM _____________________________ 1 Adjusted EBITDA is a non-GAAP measure. This press release should be read in conjunction with Aimia's consolidated financial statements and management discussions and analysis (MD&A) for the three and six-month periods ended June 30, 2025, which can be accessed from SEDAR+ and Balance Sheet and Liquidity As at June 30, 2025, Aimia had $70.5 million in cash and cash equivalents. As at March 31, 2025, Aimia had $94.7 million of cash and cash equivalents. The quarter over quarter decline in Aimia's liquidity was attributable to a number of developments in Q2 2025. The most notable being $9.4 million of senior debt principal repayments made by Bozzetto, of which $6.3 million were voluntary, $8.2 million of payments for the buyback of common shares through the Corporation's normal course issuer bid, $6.4 million of interest payments related to the 2030 Notes, $5.2 million of Bozzetto interest payments on its credit facilities, and $3.7 million of investments in property, plant and equipment. The decline was partially offset by $9.4 million of cash flow from operating activities in Q2 2025 and a $2.7 million loan repayment from Kognitiv. Of Aimia's cash and cash equivalents held at June 30, 2025, $36.9 million was held in Bozzetto, $10.2 million in Cortland International, and $23.4 million in the Holdings segment. As at August 13, 2025, Aimia had not yet received the $27 million refund from its tax audit settlement with the Canada Revenue Agency. Available Tax Losses As at June 30, 2025, Aimia had $1,085.9 million of tax losses available for carry forward that may be used to reduce taxable income in future years. The total available for carry forward is comprised of $510.3 million of operating tax losses and $575.6 million of capital tax losses. Dividends Aimia paid $0.7 million in dividends for the second quarter ended June 30, 2025, on its three series of outstanding preferred shares. In the same period of 2024, Aimia paid $3.8 million in dividends. The year-over-year decline reflects the successful completion of the Corporation's substantial issuer bid that resulted in the purchase for cancellation 7,889,931 Preferred Shares in consideration for the 9.75% senior unsecured notes. Aimia's Board of Directors declared quarterly dividends of $0.392563 per Series 1 preferred share, $0.485813 per Series 3 preferred share and $0.431266 per Series 4 preferred share, in each case payable on September 30, 2025, to shareholders of record on September 16, 2025. Dividends paid by Aimia to Canadian residents on its preferred shares are "eligible dividends" for the purpose of the Income Tax Act (Canada) and any similar applicable provincial legislation. SEGMENT RESULTS Aimia is comprised of three segments: Bozzetto, Cortland International, and Holdings. Financial highlights for each segment for the three-month and six-month periods ended June 30, 2025 follow. Bozzetto Aimia owns a 94.1% equity stake in Bozzetto, one of the world's leading providers of sustainable specialty chemicals with applications mainly in the textile, home and personal care, geothermal, construction, and agrochemical markets. Bozzetto's management team owns the remaining 5.9%. Subsequent to June 30, 2025, the Corporation repurchased 0.084% of equity from a member of Bozzetto's management team, increasing Aimia's total equity stake to 94.18%. Bozzetto 3-Months Ended June 30 6-Months Ended June 30 (in $ millions except for margin data) 2025 2024 Change 2025 2024 Change Revenue 90.9 87.4 4.0 % 180.0 175.5 2.6 % Gross Profit 26.3 24.6 6.9 % 52.4 51.1 2.5 % Gross Margin 28.9 % 28.1 % 0.8 pp 29.1 % 29.1 % - Selling, general and administrative expenses (15.5) (20.9) 25.8 % (29.5) (38.0) 22.4 % Operating Income (loss) 10.8 3.7 191.9 % 22.9 13.1 74.8 % Earnings (loss) before income taxes 7.4 (0.3) NM 14.9 5.3 181.1 % Adjusted EBITDA2 16.9 15.1 11.9 % 33.9 30.6 10.8 % Adjusted EBITDA margin 18.6 % 17.3 % 1.3 pp 18.8 % 17.4 % 1.4 pp ______________________________ 2 Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures. Bozzetto generated revenue of $90.9 million in the second quarter of 2025, up 4.0% from $87.4 million generated in the comparable period for 2024. On a constant currency basis, Bozzetto's revenue decreased by $2.1 million or 2.4%. The variance is due to lower volume sold by Bozzetto's Textile Solutions sector as a result of weaker demand caused by the uncertainty of U.S. tariffs. The decline was partially offset by improved pricing and product mix for Bozzetto's Dispersion Solutions sector, which primarily serves plasterboard, agrochemical, and concrete markets outside of the U.S. Adjusted EBITDA for Q2 2025 was $16.9 million, which represents a margin of 18.6%. These compare to $15.1 million and 17.3%, respectively, for Q2 2024. The year-over-year improvements were principally driven by a favourable currency impact of $1 million. On a constant currency basis, the growth was due to lower SG&A expenses of $0.9 million, offset by lower gross profit of $0.5 million. Bozzetto generated earnings before taxes in Q2 2025 of $7.4 million, up from a loss of $0.3 million in Q2 2024. The turnaround reflects the reduction in SG&A expenses and Bozzetto management's adaptability in the face of macroeconomic and geopolitical challenges. Cortland International Aimia owns a 100% equity stake in Cortland International, the rebranded combination of Tufropes and Cortland Industrial, a global leader in the manufacturing of high-performance synthetic fiber ropes and netting solutions for maritime and other industrial customers. Cortland International 3-Months ended June 30 6-Months ended June 30 (in millions of dollars except for margin data) 2025 2024 Change 2025 2024 Change Revenue 37.8 35.0 8.0 % 78.5 69.0 13.8 % Gross Profit 8.6 6.9 24.6 % 18.1 14.7 23.1 % Gross Margin 22.8 % 19.7 % 3.1 pp 23.1 % 21.3 % 1.8 pp Selling, general and administrative expenses (7.9) (9.6) 17.7 % (16.0) (16.6) 3.6 % Operating Income (loss) 0.7 (2.7) 125.9 % 2.1 (1.9) 210.5 % Earnings (loss) before taxes (1.7) (1.5) (13.3) % (2.7) (3.0) 10.0 % Adjusted EBITDA3 4.9 3.6 36.1 % 10.3 7.6 35.5 % Adjusted EBITDA Margin 13.0 % 10.3 % 2.7 pp 13.1 % 11.0 % 2.1 pp ______________________________ 3 Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures. Cortland generated revenue of $37.8 million for Q2 2025, up 8.0% from $35 million generated in Q2 2024. On a constant currency basis, Cortland's revenue grew $2.4 million or 6.9%. Cortland's performance in Q2 2025 was largely driven by improved market conditions and improved product mix, including higher volumes of high-performance rope sales, despite some prevailing headwinds in the market due to uncertainties related to U.S. tariffs. Adjusted EBITDA for Q2 2025 was $4.9 million, representing a margin of 13.0%. These compare to $3.6 million and 10.3%, respectively, for Q2 2024. The year-over-year improvements were largely driven by higher gross profit. In Q2 2024, Cortland incurred $1.2 million of professional and advisory fees related to business transformation and operational improvement initiatives aimed at building Cortland's market share, strengthening its sales force, and launching new products. Excluding these fees from the prior period, Adjusted EBITDA would be broadly in line with last year. Holdings Segment The Holdings Segment includes Aimia's investments in Clear Media Limited and Kognitiv as well as minority investments in public company securities and limited partnerships. The results of the Holdings Segment include corporate operating costs, including costs related to public company disclosure and board, executive leadership, legal, finance and administration. Holdings 3-months ended June 30 6-months ended June 30 (in millions of dollars) 2025 2024 Change 2025 2024 Change Selling, general and administrative expenses (2.5) (8.0) 68.8 % (5.9) (18.9) 68.8 % Earnings (loss) before taxes (9.4) (1.0) NM (13.0) (6.8) (91.2) % Adjusted EBITDA4 (2.1) (6.4) 67.2 % (4.8) (19.2) 75.0 % _____________________________ 4 Adjusted EBITDA is a non-GAAP measure. SG&A expenses for the Holdings segment in Q2 2025 were $2.5 million, down from $8.0 million incurred in Q2 2024. In Q2 2024 Aimia incurred $2.9 million of shareholder activism expenses and $0.8 million of expenses related to the termination of the Paladin agreements. SG&A expenses for the six-months ended June 30, 2024 also included $1.6 million in termination expenses related to the departure of Aimia's former CEO and its former President. Adjusted EBITDA in Q2 2025 improved by $4.3 million due to absence of activism expenses of $2.9 million incurred in the prior period and a $1.4 million reduction in professional advisory fees and compensation and benefit expenses. Aimia anticipates that costs at the Holdings Segment in 2025 will be $9 million. Outlook and Guidance Aimia's performance through the mid-point of the year tracks favourably against its targets announced for 2025. As a result, the Company has re-iterated its guidance for Adjusted EBITDA for its core holdings on a combined basis for 2025, albeit at the lower end of the range. Through June 30, 2025, Aimia's core holdings generated $44.2 million on a combined basis. Aimia will continue to closely monitor global trade developments and their impact on the performance of its core holdings. In light of the Company's progress at reducing HoldCo costs, Aimia has lowered its guidance for Holding Company costs for 2025 from below $11 million to $9 million. Through June 30, 2025 Holding Company costs were $4.5 million, net of one-time related professional fees associated with the settlement of the tax audit. The guidance is exclusive of one-time costs. (in millions of dollars) Previous Guidance for 2025 Year to Date Results New Guidancefor 2025 Adjusted EBITDA at Bozzetto and Cortland on a Combined Basis5 $88 - $95 $44.2 $88 - $95 Holding Company Costs6 Below $11 $4.5 $9.0 ______________________________ 5 Adjusted EBITDA is a non-GAAP measure. 6 Holding Company costs are a non-GAAP measure. Quarterly Conference Call and Audio Webcast Information Aimia will host a conference call to discuss its second quarter 2025 financial results at 8:30 am ET on August 14. The call will be webcast at the following URL link Interested parties can listen to conference call by dialing 1 888 699 1199 or 1 416 945 7677 (internationally). A slide presentation intended for simultaneous viewing with the conference call and an archived audio webcast will be available for 90 days following the original broadcast available at: About Aimia Aimia Inc. (TSX: AIM) is a diversified company focused on enhancing the value of its two core global businesses, Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company. Headquartered in Toronto, Aimia's priorities include reducing its holding company costs, reducing the discount of its share price to the intrinsic value of its net assets and efficiently utilizing its loss carry-forwards to create shareholder value. For more information about Aimia, visit Non-GAAP Financial Measures and Reconciliation to Comparable GAAP Measures "GAAP" means Canadian Generally Accepted Accounting Principles (which are in accordance with the International Financial Reporting Standards). Adjusted EBITDA Adjusted EBITDA is not a measurement based on GAAP, is not considered an alternative to net earnings in measuring profitability, does not have a standardized meaning and is not directly comparable to similar measures used by other issuers. Adjusted EBITDA should not be used as an exclusive measure of cash flow because it does not account for the impact of working capital growth, capital expenditures, debt repayments and other sources and uses of cash, which are disclosed in the statements of cash flows. A reconciliation to operating income (loss) is provided. Adjusted EBITDA is used by management to evaluate the performance of its Bozzetto, Cortland International and Holdings segments. Management believes Adjusted EBITDA assists investors in comparing Aimia's performance on a consistent basis excluding depreciation and amortization, impairment charges related to non-financial assets and share-based compensation, which are non-cash in nature and can vary significantly depending on accounting methods as well as non-operating factors such as historical cost. Aimia's management believes that the exclusion of business acquisition and/or disposal related expenses assists investors by excluding expenses that are not representative of the run-rate cost structure of its operations. Adjusted EBITDA is operating income (loss) adjusted to exclude depreciation, amortization, impairment charges related to non-financial assets, cost of sales expense related to inventory fair value step up resulting from purchase price allocation, share-based compensation, expenses related to Cortland International's long-term management incentive plan, gain/loss from the disposal of manufacturing property and land, costs related to the termination of the Paladin agreements, as well as transaction costs related to business acquisitions. For a reconciliation of Adjusted EBITDA to operating income (loss), please refer to the tables below. Bozzetto Three Months Ended June 30, Six Months Ended June 30, (in millions of Canadian dollars) 2025 2024 2025 2024 Reconciliation of Adjusted EBITDAOperating income (loss) 10.83.722.913.1 Depreciation and amortization 6.15.612.111.0 Cost of sales expense related to inventory fair value step up resulting from purchase price allocation —0.7—0.7 Cost related to the termination of Paladin agreements —4.9—4.9 Transaction related (income) costs —0.2(1.1)0.9 Adjusted EBITDA 16.915.133.930.6 Adjusted EBITDA margin 18.6 %17.3 %18.8 %17.4 % Cortland International Three Months Ended June 30, Six Months Ended June 30, (in millions of Canadian dollars) 2025 2024 2025 2024 Reconciliation of Adjusted EBITDA Operating income (loss) 0.7(2.7)2.1(1.9)Depreciation and amortization 3.12.96.15.9Cost related to the termination of Paladin agreements —1.5—1.5Long-term management incentive plan 1.1—2.1—Transaction and transition related costs —1.9—2.1 Adjusted EBITDA 4.93.610.37.6Adjusted EBITDA margin 13.0 %10.3 %13.1 %11.0 % Holdings Three Months Ended June 30, Six Months Ended June 30, (in millions of Canadian dollars) 2025 2024 2025 2024 Reconciliation of Adjusted EBITDA Operating income (loss) (2.5)(8.0)(5.9)(18.9)Share-based compensation expense (reversal) 0.40.81.1(1.1)Costs related to the termination of Paladin agreements —0.8—0.8Adjusted EBITDA (2.1)(6.4)(4.8)(19.2)For a reconciliation of Holdco costs to the Holdings segment's Selling, general and administrative expenses, please refer to the table below. Holdings Three Months Ended June 30, Six Months Ended June 30, (in millions of Canadian dollars) 2025 2025 Selling, general and administrative expenses (2.5)(5.9)Share-based compensation expense (reversal) 0.41.1Legal fees incurred in relation with CRA settlement 0.10.3Holdco Costs (2.0)(4.5)Forward-Looking Statements This press release contains statements that constitute "forward-looking information" within the meaning of Canadian securities laws ("forward-ling statements"), which are based upon Aimia's current expectations, estimates, projections, assumptions and beliefs. All information that is not clearly historical in nature may constitute forward-looking statements. Forward-looking statements are typically identified by the use of terms such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would" and "should", and similar terms and phrases, including references to assumptions. Forward-looking statements in this press release include, but are not limited to, Aimia's future growth and value creation; Aimia's reduction in holding company costs; monetization of Aimia's core or non-core assets; Aimia's possibility to make controlling stake investments and the use of Aimia's tax loss carry forwards; the duration of the transition period; Aimia's increased disclosure on net asset value; the impact of tariffs on Aimia's outlook and guidance; Aimia's refund of $27 million by the Canada Revenue Agency pending final processing of the settlement agreement and Aimia's guidance for 2025; and Aimia's refund from Revenu Québec. Forward-looking statements, by their nature, are based on assumptions and are subject to known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statement will not occur. The forward-looking statements in this press release speak only as of the date hereof and reflect several material factors, expectations and assumptions. Undue reliance should not be placed on any predictions or forward-looking statements as these may be affected by, among other things, changing external events and general uncertainties of the business. A discussion of the material risks applicable to the Company can be found in Aimia's current Management's Discussion and Analysis and Annual Information Form, each of which have been or will be filed on SEDAR+ and can be accessed at Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aimia disclaims any intention and assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. SOURCE Aimia Inc. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
