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.
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please contact Louis Tonelli, Vice-President, Investor Relations at 905-726-7035.
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