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Last updated on April 16, 2014 at 1:21 EDT

Magna Establishes Automatic Share Purchase Plan

June 28, 2013

AURORA, ON, June 28, 2013 /PRNewswire/ – Magna International Inc. (TSX: MG, NYSE: MGA) today announced that it has established a pre-defined automatic
securities purchase plan (the “Plan”) with a designated broker to
facilitate the repurchase of our Common Shares under our current normal
course issuer bid (the “Bid”). The Plan has been reviewed by the
Toronto Stock Exchange (“TSX”) and will be implemented effective July
1, 2013. Under the Plan, Magna has provided instructions and strict
parameters regarding how its Common Shares may be repurchased during
times when it would ordinarily not be permitted to purchase Common
Shares due to regulatory restrictions or self-imposed black-out
periods. We impose regular blackouts during the period commencing at
11:59 p.m. of the last day of each fiscal quarter to and including 48
hours after the public announcement of our quarterly or annual
financial results. The Plan will terminate on the earliest of the date
on which: (a) the purchase limit specified in the Plan has been
reached, (b) we terminate the Plan in accordance with its terms, in
which case we will issue a press release confirming such termination,
and (c) the Bid terminates.

Under the Bid, which commenced on November 13, 2012 and which terminates
on November 12, 2013, we are authorized to repurchase up to 12,000,000
Common Shares. All purchases of Common Shares under the Bid may be
made: (i) on the TSX in accordance with the rules and policies of the
TSX, (ii) on the New York Stock Exchange in compliance with Rule 10b-18
under the U.S. Securities Exchange Act of 1934, (iii) on other
published markets, and/or (iv) pursuant to private agreement purchases
from arm’s length third-party sellers under issuer bid exemption orders
previously granted to Magna. All such repurchases are included in
computing the number of Common Shares purchased under the Bid. As of
June 27, 2013, the Corporation has repurchased 7,215,205 Common Shares
under the Bid.

ABOUT MAGNA

We are a leading global automotive supplier with 315 manufacturing
operations and 87 product development, engineering and sales centres in
29 countries. Our 121,000 employees are focused on delivering superior
value to our customers through innovative processes and World Class
Manufacturing. Our product capabilities include producing body,
chassis, interiors, exteriors, seating, powertrain, electronics,
mirrors, closures and roof systems and modules, as well as complete
vehicle engineering and contract manufacturing. For further information
about Magna, visit our website at www.magna.com.

FORWARD-LOOKING STATEMENTS

This press release may contain statements that, to the extent that they
are not recitations of historical fact, constitute “forward-looking
statements” within the meaning of applicable securities legislation,
including, but not limited to, future purchases of our Common Shares
under the Normal Course Issuer Bid, including through the Plan or
pursuant to private agreements under issuer bid exemption orders issued
by a securities regulatory authority. Forward-looking statements may
include financial and other projections, as well as statements
regarding our future plans, objectives or economic performance, or the
assumptions underlying any of the foregoing. We use words such as
“may”, “would”, “could”, “should” “will”, “likely”, “expect”,
“anticipate”, “believe”, “intend”, “plan”, “forecast”, “outlook”,
“project”, “estimate” and similar expressions suggesting future
outcomes or events to identify forward-looking statements. Any such
forward-looking statements are based on information currently available
to us, and are based on assumptions and analyses made by us in light of
our experience and our perception of historical trends, current
conditions and expected future developments, as well as other factors
we believe are appropriate in the circumstances. However, whether
actual results and developments will conform to our expectations and
predictions is subject to a number of risks, assumptions and
uncertainties, many of which are beyond our control, and the effects of
which can be difficult to predict. These risks, assumptions and
uncertainties include, without limitation, the impact of: the potential
for a deterioration of economic conditions or an extended period of
economic uncertainty; liquidity risks; risks arising due to the failure
of a major financial institution; fluctuations in relative currency
values; legal claims and/or regulatory actions against us; the
unpredictability of, and fluctuation in, the trading price of our
Common Shares; changes in laws and governmental regulations; and other
factors set out in our Annual Information Form filed with securities
commissions in Canada and our annual report on Form 40-F filed with the
United States Securities and Exchange Commission, and subsequent
filings. In evaluating forward-looking statements, we caution readers
not to place undue reliance on any forward-looking statements and
readers should specifically consider the various factors which could
cause actual events or results to differ materially from those
indicated by such forward-looking statements. Unless otherwise required
by applicable securities laws, we do not intend, nor do we undertake
any obligation, to update or revise any forward-looking statements to
reflect subsequent information, events, results or circumstances or
otherwise.

SOURCE Magna International Inc.


Source: PR Newswire