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Magna Announces 2019 Annual Meeting Results

Del

AURORA, Ontario, May 09, 2019 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2019 annual meeting of shareholders. A total of 244,128,107 Common Shares or 75.56% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted by a show of hands in favour of each item of business other than the shareholder proposal. Voting results were as follows for the items of business addressed at the meeting:

a.         Election of Directors    

Nominee
Votes FOR Nominee Votes FOR
Scott B. Bonham 98.26% William A. Ruh 98.00%
Peter G. Bowie 99.78% Dr. Indira V. Samarasekera 98.05%
Mary S. Chan 99.49% Donald J. Walker 99.93%
Dr. Kurt J. Lauk 99.74% Lisa S. Westlake 99.93%
Robert F. MacLellan 78.52% William L. Young 98.08%
Cynthia A. Niekamp 99.87%    

b.         Other Items of Business

Item
Votes FOR
Reappointment of Deloitte 99.76%
Say on Pay 84.27%
Shareholder Proposal 7.79%

Based on the voting results, each of the 11 nominees was elected with a substantial majority. Similarly, Deloitte was reappointed as Magna’s independent auditors and the Say on Pay resolution was approved, in each case by a substantial majority. Finally, the shareholder proposal was rejected by a substantial majority. Detailed voting results are included as Appendix “A” to this press release.                                                                                                                                                                                                                                        

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com  │  905.726.7035

MEDIA CONTACT
Tracy Fuerst, Director of Corporate Communications & PR
tracy.fuerst@magna.com  │  248.631.5396

OUR BUSINESS (1)
We are a mobility technology company. We have more than 169,000 entrepreneurial-minded employees and 338 manufacturing operations and 89 product development, engineering and sales centres in 28 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mirrors & lighting, mechatronics and roof systems. Magna also has electronic and software capabilities across many of these areas. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.magna.com.

(1) Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.

Appendix “A”

VOTING RESULTS - 2019 ANNUAL MEETING OF SHAREHOLDERS

Resolution Votes For Votes Withheld/Against


#


%


#


%
Elect Scott B. Bonham as Director 223,883,870 98.26 3,954,062 1.74
Elect Peter G. Bowie as Director 227,330,563 99.78 507,369 0.22
Elect Mary S. Chan as Director 226,682,905 99.49 1,155,026 0.51
Elect Dr. Kurt J. Lauk as Director 227,236,140 99.74 601,792 0.26
Elect Robert F. MacLellan as Director 178,908,214 78.52 48,929,718 21.48
Elect Cynthia A. Niekamp as Director 227,533,201 99.87 304,730 0.13
Elect William A. Ruh as Director 223,279,152 98.00 4,558,780 2.00
Elect Dr. Indira V. Samarasekera as Director 223,389,757 98.05 4,448,176 1.95
Elect Donald J. Walker as Director 227,674,873 99.93 163,058 0.07
Elect Lisa S. Westlake as Director 227,669,997 99.93 167,935 0.07
Elect William L. Young as Director 223,468,616 98.08 4,369,316 1.92
Re-Appointment of Deloitte LLP as Auditors 243,541,983 99.76 579,458 0.24
Advisory Resolution on Executive Compensation 191,996,600 84.27 35,841,324 15.73
Shareholder Proposal 17,750,083 7.79 210,087,818 92.21


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