Magna announces 2016 annual and special meeting results

AURORA, ON, May 5, 2016 /CNW/ - Magna International Inc. (TSX: MG, NYSE: MGA) announced voting results from its 2016 annual and special meeting of shareholders held today. A total of 292,439,538 Common Shares or 73.37% of our issued and outstanding Common Shares, were voted in connection with the meeting. Shareholders voted by a show of hands in favour of each item of business. Based on proxies received prior to the meeting and votes cast in person at the meeting, each director nominee was elected by a substantial majority as follows:

Scott B. Bonham

99.92%

Peter G. Bowie

99.92%

Hon. J. Trevor Eyton

97.68%

Lady Barbara Judge

99.88%

Dr. Kurt J. Lauk

99.92%

Cynthia A. Niekamp

99.92%

Dr. Indira V. Samarasekera

99.51%

Donald J. Walker

99.92%

Lawrence D. Worrall

99.62%

William L. Young

99.51%

Additionally, Magna's advisory "say on pay" vote received 83.40% support, the special resolution approving the amendment of Magna's articles of incorporation to remove Section 10 of the Corporate Constitution vote received 99.67% support and the resolution ratifying and confirming the repeal of By-Law 1B-92 and the adoption of By-Law No. 1 vote received 98.84% support based on proxies received prior to the meeting and votes cast in person at the meeting.  Full results of the votes are included as Appendix "A" to this press release.      

ABOUT MAGNA

We are a leading global automotive supplier with 305 manufacturing operations and 93 product development, engineering and sales centres in 29 countries.  We have over 139,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing.  Our product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as complete vehicle engineering and contract manufacturing.  Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA).  For further information about Magna, visit our website at www.magna.com.

Appendix "A"

VOTING RESULTS - 2016 ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Resolution

Votes For

Votes Withheld/Against

#

%

#

%

Elect Scott B. Bonham as Director

281,566,371

99.92

221,535

0.08

Elect Peter G. Bowie as Director

281,569,656

99.92

218,250

0.08

Elect Hon. J. Trevor Eyton as Director

275,238,988

97.68

6,548,917

2.32

Elect Lady Barbara Judge as Director

281,462,716

99.88

325,189

0.12

Elect Dr. Kurt J. Lauk as Director

281,566,970

99.92

220,936

0.08

Elect Cynthia A. Niekamp as Director

281,572,176

99.92

215,730

0.08

Elect Dr. Indira V. Samarasekera

280,407,455

99.51

1,380,450

0.49

Elect Donald J. Walker as Director

281,574,028

99.92

213,878

0.08

Elect Lawrence D. Worrall as Director

280,714,850

99.62

1,073,056

0.38

Elect William L. Young as Director

280,397,839

99.51

1,390,066

0.49

Re-Appointment of Deloitte LLP as Auditors

291,653,592

99.74

749,027

0.26

Advisory Resolution on Approach to Executive Compensation

235,004,221

83.40

46,780,378

16.60

Special Resolution to Amend Articles of Incorporation

280,868,114

99.67

919,303

0.33

Resolution to Ratify and Confirm new General By-Law

278,507,252

98.84

3,280,164

1.16

SOURCE Magna International Inc.

For further information: please contact Louis Tonelli, Vice-President, Investor Relations at 905-726-7035.

RELATED LINKS
http://www.magna.com

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