Magna : Press Release - Magna Announces 2016 Annual and Special Meeting Results
May 05, 2016 at 05:22 pm EDT
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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.
Magna International Inc. published this content on 05 May 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 05 May 2016 21:21:03 UTC.
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Magna International Inc. is a Canada-based global automotive supplier. The Company has complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting, and roof systems. Its Veoneer Active Safety provides sensor, software and systems engineering solutions to a range of customers. The Company's segments include Body Exteriors & Structures; Power & Vision; Seating Systems; and Complete Vehicles. Its Body Exteriors & Structures include body structures, chassis structures, exterior, energy storage systems and other. Its Power & Vision products include electrified powertrain technologies, powertrain subsystems and other. Its Complete Vehicles consist of complete vehicle engineering and complete vehicle manufacturing. The Company's global network includes 341 manufacturing operations and 88 product development.