SOURCE: Extendicare Inc.

Extendicare Inc.

March 27, 2015 17:00 ET

Extendicare Announces Annual General and Special Meeting and Advance Notice By-Law

MARKHAM, ON--(Marketwired - March 27, 2015) - Extendicare Inc. ("Extendicare" or the "Company") (TSX: EXE) today announced that the Company will hold its 2015 Annual General and Special Meeting (the "Meeting") on Thursday, June 18, 2015, at 11:00 a.m. (Toronto time) at the TMX Gallery, 130 King Street West, Toronto, Ontario. The record date for the determination of shareholders entitled to receive notice of and to vote at the Meeting has been set as shareholders of record as at the close of business on April 30, 2015.

The Company also announced the approval by its Board of Directors on March 27, 2015, of an advance notice by-law (the "Advance Notice By-law" or the "By-law"), establishing a framework for advance notice of nominations of directors by shareholders of the Company. The By-law fixes certain deadlines by which shareholders must submit a notice of director nominations to the Company prior to a shareholders' meeting and sets forth the information which must be included in the notice.

The Advance Notice By-law will help ensure that shareholders will receive adequate notice of all director nominations to be considered at a shareholders' meeting and sufficient information so that shareholders can cast an informed vote. The By-law is similar to the advance notice by-laws adopted by many other Canadian public companies and is consistent with recent guidance from proxy advisory firms.

More specifically, the By-law provides that advance notice of director nominations to the Company must be made in circumstances where director nominations are made by shareholders other than pursuant to (i) a requisition of a meeting made pursuant to the provisions of the Canada Business Corporations Act (CBCA), or (ii) a shareholder proposal made in accordance with the provisions of the CBCA.

For an annual meeting of shareholders (including an annual and special meeting), notice to the Company must be given not less than 30 days prior to the date of the annual meeting. If the annual meeting is to be held on a date that is less than 50 days following the date of public announcement of the meeting, notice must be given not later than the close of business on the 10th day following the notice date.

In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be given not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The Advance Notice By-law is effective immediately. Shareholders of Extendicare will be asked to ratify and confirm the By-law at the Meeting. The full text of the Advance Notice By-law will be filed under Extendicare's profile at www.sedar.com.

Forward-looking Statements
Information provided by Extendicare from time to time, including this release, contains or may contain forward-looking statements concerning anticipated financial events, results, circumstances, economic performance or expectations with respect to Extendicare and its subsidiaries, including, without limitation, statements regarding its business operations, business strategy, and financial condition. Forward-looking statements can be identified because they generally contain the words "expect", "intend", "anticipate", "believe", "estimate", "project", "plan" or "objective" or other similar expressions or the negative thereof. Forward-looking statements reflect management's beliefs and assumptions and are based on information currently available, and Extendicare assumes no obligation to update or revise any forward-looking statement, except as required by applicable securities laws. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Extendicare to differ materially from those expressed or implied in the statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on Extendicare's forward-looking statements. Further information can be found in the disclosure documents filed by Extendicare with the securities regulatory authorities, available at www.sedar.com and on Extendicare's website at www.extendicare.com.

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