GUELPH, ON, June 4, 2019 /CNW/ - Linamar Corporation
(TSX:LNR) today announced detailed results of the votes cast for
three motions held during the Annual General Meeting of the Company
on Thursday, May 30, 2019 in
Guelph, Ontario, as set out
below.
Confirmation of the Advance Notice By-Law
Shareholder's were asked to consider and, if thought appropriate,
to pass without variation an ordinary resolution, approving,
ratifying and confirming a new corporate by-law providing advance
notice requirements for the nomination of directors to the
Corporation's Board. Following a vote by way of show of hands, the
by-law was confirmed by a majority of the votes cast by the
shareholders present or represented by proxy, and was therefore
ratified. The proxies received by Linamar in relation to the by-law
were as follows:
|
Votes
For
|
Votes
Against
|
%
For
|
%
Against
|
Advance Notice By-Law
No. 8
|
38,629,512
|
13,228,608
|
74.94%
|
25.51%
|
Shareholder Proposal
Shareholder's were also asked to
vote on a joint Shareholder Proposal ("Proposal") filed pursuant to
s. 99 of the Business Corporations Act (Ontario). The Proposal called on the Board of
Directors to adopt a policy that the Company's shareholders be
permitted to vote, on an annual and advisory basis, on a management
resolution to ratify the compensation of the Named Executive
Officers set forth in the proxy statement. Following a vote by way
of show of hands, the Proposal did not receive a majority of the
votes cast by the shareholders present or represented by proxy, and
was therefore not adopted. The proxies received by Linamar in
relation to the Proposal were as follows:
|
Votes
For
|
Votes
Against
|
%
For
|
%
Against
|
Shareholder
Proposal
|
20,205,602
|
31,652,518
|
38.96%
|
61.04%
|
Election of Directors
The following nominees, as
listed in the management proxy circular, for the 2019 Annual
Meeting of Shareholders were elected as directors of Linamar
Corporation.
Nominees
|
Votes
For
|
%
For
|
Votes
Withheld
|
%
Withheld
|
Frank
Hasenfratz
|
38,575,945
|
74.39%
|
13,282,175
|
25.61%
|
Linda
Hasenfratz
|
39,050,840
|
75.30%
|
12,807,280
|
24.70%
|
Mark
Stoddart
|
38,648,899
|
74.53%
|
13,209,221
|
25.47%
|
Terry
Reidel
|
36,388,317
|
70.17%
|
15,469,803
|
29.83%
|
William
Harrison
|
39,133,719
|
75.46%
|
12,724,401
|
24.54%
|
Dennis
Grimm
|
39,960,092
|
77.06%
|
11,898,028
|
22.94%
|
Linamar Corporation (TSX:LNR) is an advanced manufacturing
company where the intersection of leading edge technology and deep
manufacturing expertise is creating solutions that power vehicles,
motion, work and lives for the future. The Company is made up of 2
operating segments – the Industrial segment and the Transportation
segment, which are further divided into 5 operating groups –
Skyjack, Agriculture, Machining & Assembly, Light Metal Casting
and Forging, all world leaders in the design, development and
production of highly engineered products. The Company's Skyjack and
MacDon companies are noted for their innovative, high quality
mobile industrial and harvesting equipment, notably class-leading
aerial work platforms, telehandlers, draper headers and
self-propelled windrowers. The Company's Machining & Assembly,
Light Metal Casting and Forging operating groups focus on precision
metallic components, modules and systems for powertrain, driveline
and body systems designed for global electrified and traditionally
powered vehicle and industrial markets. Linamar has more than
29,000 employees in 60 manufacturing locations, 8 R&D centres
and 25 sales offices in 17 countries in North and South America, Europe and Asia which generated sales of $7.6 billion in 2018. For more information about
Linamar Corporation and its industry leading products and services,
visit www.linamar.com or follow us on Twitter at @LinamarCorp.
SOURCE Linamar Corporation