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Press release from PR Newswire

Magna Announces 2014 Annual Meeting Results

Thursday, May 08, 2014

Magna Announces 2014 Annual Meeting Results

17:55 EDT Thursday, May 08, 2014

AURORA, ON, 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 www.magna.com.

APPENDIX "A"

VOTING RESULTS - 2014 ANNUAL MEETING OF SHAREHOLDERS 

Resolution Votes For Votes  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.

SOURCE Magna International Inc.

For further information:

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

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