Special Meeting – Acquisition of Aged Care Facilities

NZX Release 27 May 2020 Special Meeting - Acquisition of Aged Care Facilities Background Promisia Integrative Limited (NZX:PIL) (Promisia) is pleased to confirm that it will hold a Special Meeting of shareholders on 11 June 2020 through the virtual meeting platform available at http://www.virtualmeeting.co.nn/pil20sm, starting at 2 pm. At the meeting, shareholders will be asked to consider, and if thought fit, pass resolutions approving the acquisition of aged care facilities from the Brankin Family Trust and related transactions. Accompanying this announcement are: o The Notice of Meeting; o A Listing Profile detailing the Promisia's retirement and aged care operations should the resolutions be passed; o An Independent Report on the transactions by Simmons Corporate Finance Limited; and o A New Constitution as described by the Notice of Meeting. The Board considers that completing the Transactions is in the best interests of Promisia shareholders as the Transactions will allow Promisia to acquire a new business with a strong reputation and reinvent Promisia in a new industry; allow shareholders to retain their shares; and have an interest in an established business in the aged care sector with strong growth prospects. In Peter Simmons' opinion: "...after having regard to all relevant factors, the positive aspects of the Transactions (including the Brankin Allotment) significantly outweigh the negative aspects from the perspective of the Non-associated Shareholders." Shareholders are encouraged to read the Independent Report by Peter Simmons in full in determining their voting decision. Website Information As referred to in the Listing Profile, addition information on the business and assets of the aged care facilities, including historic financial information is available on the Promisia website at https://www.promisia.com/. ENDS For further information please contact Mr Stephen Underwood, Chairman on 027 499 3387 or Mr Rene de Wit on 021 571 000. End CA:00353771 For:PIL Type:MEETING Time:2020-05-27 11:26:23