Exhibit 99.2
knowledge. judgement. EXPERIENCE.
W.P. STEWART
& Co., Ltd. PRESS RELEASE
Contact: Fred Ryan
telephone: 441.295.8585
W.P. Stewart & Co., Ltd. Holds
Annual General Meeting of Shareholders
10 May 2006
Hamilton, Bermuda
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).
Trinity Hall, 43 Cedar Avenue, Hamilton, HM 12, Bermuda
mailing address: P.O. Box HM 2905, Hamilton HM LX, Bermuda
telephone: 441.295.8585 fax: 441.296.6823
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
(NYSE: WPL) and on the Bermuda Stock Exchange (BSX: 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 +441-295-8585 (outside
the United States) or e-mail to IRINFO@wpstewart.com.
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