Equitable Group Inc. Announcement
08 Mai 2012 - 4:52AM
PR Newswire (Canada)
TSX Symbols: ETC and ETC.PR.A TORONTO, May 8, 2012 /CNW/ -
Equitable Group Inc. ("Equitable" or the "Company") today announced
that it will recommend to its shareholders certain additional
amendments to its share option plan, which has been submitted for
approval at Equitable Group Inc.'s annual meeting to be held on May
15, 2012. "Specifically, the Company will recommend that: (a)
Section 1.4 of the Plan be amended to reduce the aggregate maximum
number of common shares of the Company ("Common Shares") that may
be reserved for issuance under the Plan from 1,501,840 to be
1,475,570 Common Shares; and (b) Section 3.5(c) be amended to
require shareholder approval to (iii) extend the expiry date of an
option to any Participant and not just to any Insider; (v) permit
an option to be transferable or assignable other than as provided
for in the event of the death of a Participant and (vi) amend the
amending section of the Plan. " For further information, please
refer to the Company's notice filed on SEDAR on May 8, 2012. About
Equitable Group Inc. Equitable Group Inc. is a niche mortgage
lender. Our core business is first charge mortgage financing, which
we offer through our wholly owned subsidiary, The Equitable Trust
Company. Founded in 1970, Equitable Trust is a federally
incorporated trust company. It serves single family, small and
large commercial borrowers and their mortgage advisors. It also
serves the investing public as a provider of Guaranteed Investment
Certificates. Equitable is active in providing GICs across all
Canadian provinces and territories. We actively originate mortgages
in Ontario, Alberta and Manitoba. Equitable Group's shares are
traded on the Toronto Stock Exchange under the symbols ETC and
ETC.PR.A. Visit the Company on line at www.equitablegroupinc.com or
www.equitabletrust.com. Equitable Group Inc. CONTACT: Andrew
MoorPresident and Chief Executive Officer416-515-3519
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