At that meeting it was also decided to pay a cash dividend of N.fl. 1.56 per share of
N.fl. 25.par value, equal to the Netherlands income tax payable in respect of
the recapitalization, as well as to increase the authorized capital from N.fl. 150,000,000
to N.fl. 200,000,000. A specification of these movements is given on page 32.
If the private placement of 2,000 shares with a par value of N.fl. 25. to be proposed
to you is approved, the Share Premium Account will be increased by such an amount
that it is possible to make a 10% share distribution from this account. In view of
this the present Share Premium Account has been included as Distribution from
the Share Premium Account in the arrangement of the annual accounts.
The amount becoming available as a result of the above-mentioned revaluation of
the participations has been added to the General reserve. The reserve has been
reduced by the goodwill paid upon acquisition of firms. The recapitalization as well
as the payment of the cash dividend equal to the Netherlands income tax payable in
respect of the recapitalization have been charged to this reserve.
The movements in the General reserve are stated on page 32.
appropriation of profit According to the Profit and Loss Account published on page 46, the net profit
amounts to N.fl. 75,541,000
In accordance with Article 12 of the Articles of Association it is
proposed that there be made available for payment of dividend 22,628,000
(corresponding to N.fl. 3.50 per share of N.fl. 25.par value)
and that the remainder amounting to N.fl. 52,913,000
be added to the General reserve.
This appropriation of profit has already been incorporated in the consolidated
Statement of Financial Condition and in the Balance Sheet of Heineken N.V.
With reference to what has been said above in connection with the Share Premium
Account, and after approval of the increase in the share capital by the private place
ment of shares, we recommend you to make a 10% share distribution from the Share
Premium Account. This distribution is free of Netherlands income tax.
AMSTERDAM, FEBRUARY I 973
HEINEKEN
TON
VAN MARWIJK KOOY
VAN DER WERF
23
