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Press release from Business Wire

Amica Adopts Shareholder Rights Plan

Wednesday, May 22, 2013

Amica Adopts Shareholder Rights Plan

17:00 EDT Wednesday, May 22, 2013

VANCOUVER, British Columbia (Business Wire) -- Amica Mature Lifestyles Inc. (“Amica” or the “Company”) (TSX Symbol: ACC) announces that its Board of Directors (the “Board”) has adopted a shareholder rights plan (the "Rights Plan"), effective May 22, 2013 (the “Effective Date”).

The objective of the Rights Plan is to ensure, to the extent possible, the fair treatment of all shareholders in connection with any take-over bid for the securities of the Company, and to provide the Board with sufficient time to evaluate unsolicited take-over bids and to explore and develop alternatives to maximize shareholder value. The Rights Plan is not intended to and will not prevent a take-over of the Company.

At 5:00 p.m. on Monday, June 3, 2013, one right will be issued and will automatically attach to Amica's common shares outstanding on such date and no further action will be required by shareholders. A right will also be attached to each common share of Amica issued thereafter. In the event that any person (an “Acquiring Person”) becomes the beneficial owner of 20% or more of the outstanding common shares of Amica, other than by way of permitted bid or as otherwise permitted under the Rights Plan, each right will entitle the holder thereof (other than the Acquiring Person) to purchase common shares of Amica at a 50% discount to the market price of such shares.

The Rights Plan has been conditionally approved by the Toronto Stock Exchange, subject to ratification by the shareholders of the Company within six months of the Effective Date. The Company intends to recommend the ratification of the Rights Plan for approval by its shareholders at the annual meeting of shareholders to be held in September 2013. If ratified by the shareholders, the Rights Plan will have an initial term of three years. If the Rights Plan is not approved by the shareholders within six months of the Effective Date of the Rights Plan it, together with the outstanding rights, will terminate and cease to be effective.

Amica is not aware of any specific take-over bid for the Company that has been made or is contemplated. A complete copy of the Rights Plan is available upon request to the Company and will be made available under the Company's profile on SEDAR at www.sedar.com.

ABOUT AMICA MATURE LIFESTYLES INC.

Amica Mature Lifestyles Inc., a Vancouver based public company, is a leader in the management, marketing, design, development and ownership of luxury seniors residences. There are 23 Amica Wellness & Vitality™ Residences in operation in Ontario and British Columbia, Canada. Additionally, Amica has one residence under construction in Calgary, Alberta, one under construction in Oakville, Ontario and two existing operational residences in Ontario with expansions that are in pre-development. The common shares of Amica are traded on the Toronto Stock Exchange under the symbol “ACC”. For more information, visit www.amica.ca .

For further information, please contact:

Art Ayres

Chief Financial Officer

Amica Mature Lifestyles Inc.

(604) 630-3473

a.ayres@amica.ca

           

Alyssa Barry

Manager, Investor Communications

Amica Mature Lifestyles Inc.

(604) 639-2171

a.barry@amica.ca

Amica Mature Lifestyles Inc.
Art Ayres, 604-630-3473
Chief Financial Officer
a.ayres@amica.ca
or
Alyssa Barry, 604-639-2171
Manager, Investor Communications
a.barry@amica.ca

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