Medical Facilities Corporation Announces Results of Annual and Special Meeting and Appointment of Chair of the Board of Directors

TORONTO, May 12, 2016 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" or the "Corporation") announced that the nominees listed in the management proxy circular (the "Circular") for the 2016 Annual and Special Meeting of shareholders (the "Meeting") held today in Toronto were elected as directors of the Corporation.

Detailed results of the votes by proxy for the election of directors held at the Meeting are set out below.

Nominee

Votes For

% For

Votes
Withheld

% Withheld

David R. Bellaire

9,850,628

99.07%

92,220

0.93%

Marilynne Day-Linton

9,850,729

99.07%

92,119

0.93%

Stephen Dineley

9,858,708

99.15%

84,140

0.85%

Irving R. Gerstein

9,842,908

98.99%

99,940

1.01%

Dale Lawr

9,843,665

99.00%

99,183

1.00%

Jeffrey Lozon

9,845,294

99.02%

97,554

0.98%

John T. Perri

9,855,170

99.12%

87,678

0.88%

 

At the Meeting, the shareholders of the Corporation also (i) approved the issuance of 1,000,000 common shares in the capital of the Corporation pursuant to options granted to Mr. Britt Reynolds, the new chief executive officer of the Corporation; (ii) ratified the Corporation's advance notice policy in the form attached to the Circular, as modified in the manner set forth in the Corporation's press release dated May 2, 2016; and (iii) approved amendments to the Corporation's articles to eliminate the share ownership restrictions applicable to physicians licensed to practice in the United States and to increase the quorum for meetings of shareholders to require the holders of 25% of the Corporation's shares to be present in person or by proxy.

The Corporation is also pleased to announce that independent director Marilynne Day-Linton was appointed Chair of the Board of Directors at a board meeting held following the Meeting.

About Medical Facilities
Medical Facilities owns controlling interests in four specialty surgical hospitals located in South Dakota, Arkansas and Oklahoma, as well as an ambulatory surgery center in California. The specialty hospitals perform scheduled surgical, imaging, diagnostic and other procedures, including primary and urgent care, and derive their revenue from the fees charged for the use of their facilities. The ambulatory surgery center specializes in outpatient surgical procedures, with patient stays of less than 24 hours. In addition, Medical Facilities owns controlling interest in a diversified healthcare service company located in Oklahoma City that provides third-party business solutions to healthcare entities such as physician practices, facilities, and insurance companies. Medical Facilities is structured so that a majority of its free cash flow from operations is distributed to the holders of its common shares in the form of dividends. For more information, please visit www.medicalfacilitiescorp.ca.

SOURCE Medical Facilities Corporation

For further information: Michael Salter, Chief Financial Officer, Medical Facilities Corporation, (416) 848-7380 or 1-877-402-7162, investors@medicalfc.com; Craig MacPhail, Investor Relations, NATIONAL Equicom, (416) 586-1938, cmacphail@national.ca


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