Leisureworld Senior Care Corporation

Leisureworld Senior Care Corporation

September 23, 2014 09:14 ET

Leisureworld Senior Care Corporation Announces Implementation of Dividend Reinvestment Plan

MARKHAM, ONTARIO--(Marketwired - Sept. 23, 2014) - Leisureworld Senior Care Corporation (TSX:LW) ("Leisureworld" or the "Company") today confirmed the implementation of its previously announced dividend reinvestment plan ("DRIP"), which has received approval from the Toronto Stock Exchange ("TSX").

The DRIP allows eligible holders of Leisureworld's common shares ("Common Shares") to reinvest their cash dividends paid in respect of their Common Shares in additional Common Shares, which, at the Company's election, will be issued from treasury or purchased on the open market. If the Company elects to issue Common Shares from treasury, such Common Shares will be purchased under the DRIP at a 3% discount to the volume-weighted average of the closing price for Common Shares on the TSX for the five trading days immediately preceding the relevant dividend payment date.

Holders of Common Shares who are resident in Canada are eligible to participate in the DRIP. Eligible shareholders may elect to participate in the DRIP commencing with the dividends to be paid on November 15, 2014 to shareholders of record as of October 30, 2014.

The full text of the DRIP is available under "Dividends" in the Investor Relations section of the Company's website located at www.leisureworld.ca and on Computershare's website located at www.investorcentre.com. Eligible beneficial shareholders who wish to participate in the DRIP should contact their investment advisor, bank or brokerage firm to enroll in the DRIP. Eligible registered shareholders may enroll online at Computershare's web portal located at www.investorcentre.com.

Shareholders should carefully read the complete text of the DRIP before making any decisions regarding participation in the DRIP.

About Leisureworld

Leisureworld Senior Care Corporation is one of Canada's largest operators of seniors' housing and the largest licensed long-term care provider in Ontario. Leisureworld has 7,500 employees and owns and operates 35 long-term care homes across Ontario with 5,733 beds. Leisureworld also owns and operates 10 retirement residences, representing 1,065 suites, in Ontario and British Columbia. Under its management services division, Leisureworld provides management and consulting services to long-term care homes and retirement residences in Ontario. Leisureworld subsidiaries include Preferred Health Care Services, an accredited provider of professional nursing and personal support services. For more information, please visit Leisureworld's website at www.leisureworld.ca.

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