RECOMMENDATIONS OF THE SUPERVISORY COUNCIL
TO THE SHAREHOLDERS
On April 21, 1977, at the age of only 52, Mr. R. van Marwijk Kooy, a member
of the Company's Board of Managing Directors, died quite unexpectedly. We
have always highly appreciated the energy and enthusiasm with which he
worked for the interests of the Group. By his intelligence and knowledge he
made an important contribution to the prosperous development of the enter
prise. His death is a great loss, both from a personal and from a business point
of view.
We have received the annual accounts for the financial year 1976/1977 drawn
up by the Board of Managing Directors, to which we give our approval. These
annual accounts, which are shown on pages 46 to 49 of this Report, have been
audited and certified by the auditors, Messrs. Klynveld Kraayenhof Co.
We recommend you to adopt the accounts in question and, in accordance with
the proposal by the Board of Managing Directors, to fix the dividend at
N.fl. 32,368,000, i.e. N.fl. 3.50 per share of N.fl. 25.par value, and to add
the remainder of the profit, amounting to N.fl. 77,223,000, to the General
reserve.
At the Annual General Meeting of Shareholders to be held on January 10,
1978, Mr. C. R. C. Wijckerheld Bisdom will be retiring as a member of the Super
visory Council at his own request, and Mr. P. Plantenga because he has reached
the age limit laid down by the Articles of Association.
Mr. A. Jiskoot and Mr. P. J. G. van Doorne will retire by rotation. They are both
immediately eligible for reappointment. Binding nominations drawn up by us
will be submitted to the General Meeting for the appointment of four members
of the Supervisory Council.
Their colleagues on the Supervisory Council wish to take this opportunity to
thank Mr. Wijckerheld Bisdom and Mr. Plantenga for their expert advice and
their contributions in many diversified fields over a long period of time, which
have been of such great benefit to the enterprise.
AMSTERDAM, DECEMBER 6, 1977
WITTERT VAN HOOGLAND
WIJCKERHELD BISDOM
THYSSEN-BORNEMISZA
JISKOOT
PLANTENGA
VAN DOORNE
STIKKER
O R LAN DIN I
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