Magna Announces 2014 Annual Meeting Results

AURORA, Ontario, May 8, 2014 /PRNewswire/ --

Magna International Inc. (TSX: MG, NYSE: MGA) announced voting results from its 2014 annual meeting of shareholders held today. A total of 180,384,093 Common Shares or 82.09% of our issued and outstanding Common Shares, were voted in connection with the annual meeting. Shareholders voted by a show of hands in favour of each item of business. Based on proxies received prior to the meeting, each director nominee was elected by a substantial majority as follows:

    Scott B. Bonham            99.45%
    Peter G. Bowie             99.94%
    Hon. J. Trevor Eyton       98.85%
    V. Peter Harder            97.82%
    Lady Barbara Judge         99.30%
    Dr. Kurt J. Lauk           99.40%
    Cynthia A. Niekamp         99.86%
    Dr. Indira V. Samarasekera 99.87%
    Donald J. Walker           99.81%
    Lawrence D. Worrall        99.82%
    William L. Young           99.54%

Additionally, Magna's advisory "say on pay" vote received 82.26% support based on proxies received prior to 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 315 manufacturing operations and 82 product development, engineering and sales centres in 29 countries. We have over 128,000 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, interior, 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 http://www.magna.com.

APPENDIX "A" 

VOTING RESULTS - 2014 ANNUAL MEETING OF SHAREHOLDERS 

                                                                              Votes
                       Resolution                        Votes For      Withheld/Against
                                                          #        %       #         %
    Elect Scott B. Bonham as Director                174,323,766 99.45    956,597    0.55%
    Elect Peter G. Bowie as Director                 175,170,042 99.94    110,321    0.06%
    Elect Hon. J. Trevor Eyton as Director           173,260,465 98.85  2,019,898    1.15%
    Elect V. Peter Harder as Director                171,450,981 97.82  3,829,382    2.18%
    Elect Lady Barbara Judge as Director             174,058,978 99.30  1,221,385    0.70%
    Elect Dr. Kurt J. Lauk as Director               174,231,395 99.40  1,048,968    0.60%
    Elect Cynthia A. Niekamp as Director             175,027,173 99.86    253,189    0.14%
    Elect Dr. Indira V. Samarasekera                 175,046,216 99.87    234,146    0.13%
    Elect Donald J. Walker as Director               174,955,057 99.81    325,305    0.19%
    Elect Lawrence D. Worrall as Director            174,968,896 99.82    311,467    0.18%
    Elect William L. Young as Director               174,480,155 99.54    800,208    0.46%
    Appointment of Deloitte LLP as Auditors          178,047,880 98.71  2,332,816    1.29%
    Advisory Resolution on Approach to Executive
    Compensation                                     144,188,920 82.26 31,091,441    0.00%

Notes:

1. Based on proxies submitted.
2. No invalid proxies were submitted.
3. 180,382,296 shares (82.09%) were voted by proxy. 1,797 shares (less than 1%) were voted in person at the meeting.

For further information:

Louis Tonelli, Vice-President, Investor Relations at +1-905-726-7035

(MG. MGA)