Press Release - 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:

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

SOURCE Magna International Inc.