HAMILTON, Bermuda, May 10 /PRNewswire/ --
W.P. Stewart & Co., Ltd. today held its Annual General Meeting of shareholders in Hamilton, Bermuda.
A slate of nine (9) directors composed of William P. Stewart, John C. Russell, Henry B. Smith, Dominik M.F. Brunner, Angus S. King, Jr., Jeremy W. Sillem, Heinrich Spangler, Jan J. Spiering and Richard D. Spurling was elected to the Board of Directors. A proposal that the maximum number of directors be increased from ten (10) to twelve (12), and that the directors of the Company be authorized to appoint new directors either to fill vacancies occurring in the Board of Directors or to act as additional directors (up to the maximum of twelve), was also approved.
In other action, the shareholders also:
1. re-appointed PricewaterhouseCoopers LLP as the Company's independent
auditors for the fiscal year ended 31 December 2006 and until the
close of the Annual General Meeting of the Company for 2007 and to
authorize the Board of Directors (acting by its Audit Committee) to
fix the auditors' remuneration; and
2. ratified and approved the issuance or the commitment to issue by the
Company of 832,500 of its common shares, in the aggregate, to certain
of its directors, officers and other employees during the year ended
31 December 2005 and early 2006 (all of which shares are or will be
subject to vesting requirements ) and the commitment by the Company
to issue in the future up to an additional 120,000 common shares, in
the aggregate, to certain of its officers and employees (all of
which additional issuances are subject to the satisfaction of
certain conditions relating to the Company's profitability,
investment performance or both).
W.P. Stewart & Co., Ltd. is an asset management company that has provided research intensive equity management services to clients throughout the world since 1975. The Company is headquartered in Hamilton, Bermuda and has additional operations or affiliates in the United States, Europe and Asia.
The Company's shares are listed for trading on the New York Stock Exchange (symbol: WPL) and on the Bermuda Stock Exchange (symbol: WPS).
For more information, please visit the Company's website at http://www.wpstewart.com, or call W.P. Stewart Investor Relations (Fred M. Ryan) at +1-888-695-4092 (toll-free within the United States) or +1-441-295-8585 (outside the United States) or e-mail to IRINFO@wpstewart.com.
Web site: http://www.wpstewart.com
Fred Ryan, of W.P. Stewart & Co., Ltd., +1-441-295-8585
