AURORA, Ontario, May 5, 2016 /PRNewswire/ --
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 athttp://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
Please contact Louis Tonelli, Vice-President, Investor Relations at +1-905-726-7035.
