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.
Andrew Moor
President and Chief Executive Officer
416-515-3519
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