SOURCE: Extendicare Inc.

Extendicare Inc.

May 25, 2017 18:25 ET

Extendicare Announces Voting Results from the 2017 Annual Meeting of Shareholders and Board Changes

MARKHAM, ON--(Marketwired - May 25, 2017) - Extendicare Inc. ("Extendicare" or the "Company") (TSX: EXE) today announced the results of matters voted on at its annual shareholders' meeting held on May 25, 2017 (the "Meeting"), which included the election as directors of the Company, all of the nominees listed in its management information and proxy circular dated April 7, 2017 (the "Information Circular"). The voting results for each of the matters presented at the Meeting are presented below.

The total number of common shares represented by shareholders present in person or by proxy at the meeting was 28,453,278, representing 32.03% of the Company's outstanding common shares.

1. Election of Directors

On a vote by a show of hands, the election of the following eight nominees as directors of the Company to hold office until the next annual meeting of the Company, or until their respective successors are elected or appointed, was approved. Proxies were received on this matter as follows:

Nominee Votes For % Votes Withheld %
Margery O. Cunningham 26,431,845 98.66 360,153 1.34
Sandra L. Hanington 26,587,578 99.24 204,420 0.76
Alan R. Hibben 26,605,545 99.30 186,453 0.70
Benjamin J. Hutzel 26,078,580 97.34 713,419 2.66
Donna E. Kingelin 26,572,047 99.18 219,951 0.82
Timothy L. Lukenda 26,487,032 98.86 304,966 1.14
Gail Paech 26,068,831 97.30 723,168 2.70
Alan D. Torrie 26,003,794 97.06 788,205 2.94

2. Appointment of Auditors

On a vote by a show of hands, the appointment of KPMG LLP as the auditors of the Company until the next annual meeting of the Company to be held in the year 2018 was approved. Proxies were received on this matter as follows:

Votes For % Votes Withheld %
27,343,043 96.89 876,616 3.11

3. Approach to Executive Compensation

On a vote conducted by ballot, a non-binding advisory resolution to accept the Company's approach to executive compensation disclosed in the Company's Information Circular was approved. The results of the vote were as follows:

Votes For % Votes Against %
25,646,303 94.90 1,379,314 5.10

Board Changes

As previously announced, Ben Hutzel, while continuing as a director of the Company, stepped down as Chairman of the Board following the Meeting, and fellow director, Alan Torrie, was appointed as Chairman.

In addition, the Company wishes to extend its sincere thanks to Fred Waks who did not stand for re-election at the Meeting and ceased to be a director at the close of the Meeting.

About Extendicare

Extendicare is a leading provider of care and services for seniors throughout Canada. Through our network of 114 operated senior care and living centres (65 owned/49 managed), as well as our home health care operations, we are committed to delivering care throughout the health care continuum to meet the needs of a growing seniors' population in Canada. Our qualified and highly trained workforce of 23,700 individuals is dedicated to helping people live better through a commitment to quality service and a passion for what we do.

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