Magna Announces 2016 Annual and Special Meeting Results

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 at http://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.