Extendicare Announces Voting Results from the 2020 Annual Meeting of Shareholders and Board Changes

MARKHAM, Ontario, May 28, 2020 (GLOBE NEWSWIRE) -- Extendicare Inc. (“Extendicare” or the “Company”) (TSX: EXE) today announced the results of matters voted on at its annual shareholders’ meeting held on May 28, 2020 (the “Meeting”), which included the election as directors of the Company of all of the nominees listed in its management information and proxy circular dated April 16, 2020 (the “Information Circular”). The voting results for each of the matters considered 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 32,886,170, representing 36.76% of the Company’s outstanding common shares.

1.    Election of Directors
On a vote by ballot, the election of the following nine 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. The results of the vote on this matter are set out below.

Nominee	Votes For	%	Votes Withheld	%
Norma Beauchamp	31,649,565	99.00	318,463	1.00
Dr. Michael Guerriere	31,618,310	98.91	349,718	1.09
Sandra L. Hanington	31,671,459	99.07	296,569	0.93
Alan R. Hibben	31,675,552	99.09	292,476	0.91
Brent Houlden	22,769,909	71.23	9,198,119	28.77
Donna E. Kingelin	26,558,787	83.08	5,409,241	16.92
Samir Manji	31,675,341	99.08	292,687	0.92
Al Mawani	26,545,737	83.04	5,422,291	16.96
Alan D. Torrie	26,562,983	83.09	5,405,045	16.91

2.    Appointment of Auditors
On a vote by ballot, the appointment of KPMG LLP as the auditors of the Company to hold office until the close of the next annual meeting of the Company at such remuneration as shall be fixed by the board of directors of the Company (the “Board”) was approved. The results of the vote on this matter are set out below.

Votes For	%	Votes Withheld	%
30,789,682	93.72	2,063,859	6.28

3.    Approach to Executive Compensation
On a vote 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 on this matter are set out below.

Votes For	%	Votes Against	%
25,904,578	81.03	6,063,450	18.97

Board Changes

As previously announced, Margery Cunningham retired from the Board at today’s Meeting, having brought valuable financial industry experience to her role as a director and as Chair of the Audit Committee. Extendicare’s management team and its Board express their sincere gratitude for Margery’s invaluable contributions and dedication over the past 10 years.

The Board and management are delighted to welcome a new director – Brent Houlden – whose extensive background as a strategist and financial advisor makes him a strong addition to the Board.

ABOUT EXTENDICARE

Extendicare is a leading provider of care and services for seniors across Canada, operating under the Extendicare, Esprit Lifestyle, ParaMed, Extendicare Assist, and SGP Purchasing Partner Network brands. We are committed to delivering quality care throughout the health continuum to meet the needs of a growing seniors population. We operate or provide contract services to a network of 122 long-term care homes and retirement communities (69 owned/53 contract services), provide approximately 9.2 million hours of home health care services annually, and provide group purchasing services to third parties representing approximately 72,900 senior residents across Canada. Our qualified and highly trained workforce of approximately 22,000 individuals is passionate about providing high quality services to help people live better.

For further information, contact:

Jillian Fountain
Vice President, Investor Relations
Phone: (905) 470-5534; Fax: (905) 470-4003
Email: jfountain@extendicare.com
Visit Extendicare’s Website at www.extendicare.com