NASDAQ OMX

Magna Establishes Automatic Share Purchase Plan

Dela

AURORA, Ontario, March 29, 2018 (GLOBE NEWSWIRE) -- 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 purchase for cancellation of Common Shares under its current normal course issuer bid (the "Bid"). The Plan will be implemented effective April 2, 2018. Under the Plan, Magna has provided instructions and strict parameters regarding how its Common Shares may be purchased for cancellation 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 15, 2017 and which terminates on November 14, 2018, we are authorized to purchase for cancellation up to 35,800,000 Common Shares. All such purchases of Common Shares under the Bid may be made: (i) on the Toronto Stock Exchange ("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 agreements or specific share repurchase programs under issuer bid exemption orders issued by the Ontario Securities Commission. All such purchases are included in computing the number of Common Shares purchased under the Bid. As of March 26, 2018, the Corporation has repurchased 4,191,894 Common Shares under the Bid. 

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 have more than 168,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a mobility technology company and one of the world's largest automotive suppliers with 335 manufacturing operations and 96 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions. 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 equity-accounted operations.

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 pursuant to private agreements or a specific share repurchase program under an issuer bid exemption order issued by the Ontario Securities Commission. 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; a decline in consumer confidence, which would typically result in lower production volume levels; legal claims and/or regulatory actions against us; fluctuations in relative currency values; changes in laws and governmental regulations; liquidity risks; the unpredictability of, and fluctuation in, the trading price of our Common Shares 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.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Magna International Inc. via Globenewswire

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från NASDAQ OMX

Raising Internal Awareness About GDPR is Main Challenge, Say Subscription Businesses25.4.2018 20:00Pressmeddelande

WARRINGTON, United Kingdom, April 25, 2018 (GLOBE NEWSWIRE) -- With the countdown to the arrival of GDPR reaching the critical stages, more than a third of subscription businesses say that their biggest remaining challenge is raising internal awareness and knowledge about the legislation. GDPR comes into force May 25, with major implications for subscription businesses that collect personal data from B2B or B2C customers located in the EU. MPP Global hosted two recent webinars, focusing on the roles of data processor and data controller, to help businesses understand their responsibilities under the new regulations. Research conducted during these webinars uncovered that the main challenge identified by 34 percent of attendees ahead of GDPR was ensuring that their colleagues were aware of the changes in legislation and the potential implications of a breach. "These findings show that there is still some work to be done around GDPR," said MPP Global CEO and Co-Founder Paul Johnson. "GDP

PowerPlan Named Finalist for 2018 SAP® Pinnacle Award25.4.2018 16:10Pressmeddelande

ATLANTA, April 25, 2018 (GLOBE NEWSWIRE) -- PowerPlan is pleased to announce that SAP has recognized it as a finalist for an SAP® Pinnacle Award in the ISV Partner of the Year - Technology Innovation Award category. The annual SAP Pinnacle Awards acknowledge the contributions of leading SAP partners that have excelled in developing and growing their partnership with SAP and helping customers meet their goals. Finalists and winners in 29 categories were chosen based on recommendations from the SAP field, customer feedback and performance indicators. "We're honored to be recognized by SAP. Our distinction as a finalist highlights that the visions of PowerPlan and SAP continue to align," said Brent Burns, COO, PowerPlan. PowerPlan has been an OEM partner for SAP since June 2017. The introduction of the PowerPlan Adapter for SAP S4/HANA gained popularity due to its advanced cloud functionality and user-friendly interface. "Working with SAP has enabled our clients to run simple, yet strateg

Appian Announces 2018 Global and Regional Partners of the Year25.4.2018 15:01Pressmeddelande

RESTON, Va., April 25, 2018 (GLOBE NEWSWIRE) -- Appian (NASDAQ:APPN) today announced its 2018 Global and Regional Partners of the Year winners. These strategic partners were selected based on their success in helping companies develop and execute digital transformation initiatives using Appian's low-code platform. Appian's partner ecosystem is consists of organizations that provide world-class solutions and services globally across a variety of industries. Global and Regional Partner of the Year Winners: Global Partner of the Year - KPMG Regional Partner of the Year, Europe - PwC Regional Partner of the Year, APAC - Incessant Regional Partner of the Year (Mid-Market) - Bits In Glass Global Trusted Program: Partner of the Year - Vuram "Our recognition as Appian's Global Partner of the Year for the third consecutive year demonstrates the strength of our combined business and technology leadership," said Jerry Iacouzzi, U.S. leader for digital enablement at KPMG. "Digital transformation i

LeoVegas kommentar på information gällande ändrade förutsättningar på den norska marknaden25.4.2018 14:32Pressmeddelande

I LeoVegas finansiella mål om intäkter på minst 600 MEUR år 2020 och minst 100 MEUR i EBITDA år 2020, som presenterades 19 april, har det tagits i beaktning att marknadsförutsättningar kan förändras. Meddelandet igår om förslaget till norska stortinget är ett exempel på ändrade förutsättningar som LeoVegas strategiska planering tagit höjd för. LeoVegas strävar efter att vara ett transparent bolag och väljer därför att ange storleken på den norska marknaden för att ge en ökad förståelse. I mars 2018 stod den norska marknaden för 4,6% av koncernens totala intäkter. Oavsett utgång påverkar utvecklingen i Norge inte LeoVegas finansiella mål. "Ännu finns det inga detaljer kring förslaget men i alla branscher får man räkna med att förutsättningarna kan ändras. Vissa marknader stängs ner och andra öppnas och regleras. Norge har idag inget lokalt licenssystem och istället för förbud hoppas jag att Norge rör sig mot en lokal reglering likt den utvecklingen vi ser i Sverige.", säger Gustaf Hagma

LeoVegas comments on information regarding the potential for changing circumstances in the Norwegian market25.4.2018 14:32Pressmeddelande

In LeoVegas financial targets of at least EUR 600 million in revenue in 2020 and at least EUR 100 million in EBITDA in 2020, that were presented on April 19th, it has been taken into account that market conditions can change. The announcement yesterday about the proposal in the Norwegian Parliament is an example of changing conditions that LeoVegas' strategic planning has made room for. LeoVegas strives to be a transparent company and therefore chooses to disclose the size of the Norwegian market in order to increase understanding of the potential impact. In March 2018, the Norwegian market accounted for 4.6% of LeoVegas total revenues. Regardless of the outcome the development in Norway, it does not affect LeoVegas financial targets. "There are still no details about the proposal, but in all industries, one can expect that the conditions can change. Some markets are closed and others are opened and regulated. Norway currently has no local licensing system, and instead of prohibition, 

Gemini to Launch Market Surveillance Technology in Collaboration with Nasdaq25.4.2018 12:30Pressmeddelande

Nasdaq is providing SMARTS Market Surveillance technology to monitor cryptocurrency market NEW YORK and STOCKHOLM, Sweden, April 25, 2018 (GLOBE NEWSWIRE) -- Gemini Trust Company, LLC (Gemini) and Nasdaq Inc. (Nasdaq:NDAQ) announced today that Gemini will be leveraging Nasdaq's SMARTS Market Surveillance technology to monitor its marketplace. The technology, which is considered the most widely deployed surveillance system in the world, will enable Gemini to monitor across all of its trading pairs, including: BTC/USD, ETH/USD and BTC/ETH. Further, SMARTS will also surveil activity across the Gemini auction process that is used to determine the settlement price for the Bitcoin XBT futures contracts that trade on Cboe's CFE Exchange. "Since launch, Gemini has aggressively pursued comprehensive compliance and surveillance programs, which we believe betters our exchange and the cryptocurrency industry as a whole," said Tyler Winklevoss, CEO, Gemini. "Our deployment of Nasdaq's SMARTS Market

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum