Explanatory notes to the Balance Sheet and the Profit and Loss Account for the financial year 1980 Balance sheet Profit and Loss Account Subsidiary companies This item relates to the shares in and claims on subsi diary companies. The valuation of the shares is based on the amounts at which the assets and liabilities are stated in the Consolidated Balance Sheet; the claims amounting to N.fl. 662,997,000 are valued at par. Emoluments for members of the Supervisory Council Eight members of the Supervisory Council were in offi ce throughout the financial year. All the members have received emoluments aggrega ting N.fl. 240,000, consisting of N.fl. 160,000 in share of profit and N.fl. 80,000 in fixed remuneration, which amounts have already been deducted from the profit. Cash This item comprises bank, cash and clearing balances. Long-term debts This item comprises: 7% debenture loan of N.fl. 6,718,000, 2 annual repay ments of approx. N.fl. 3,400,000 from October 11982; 10% Euro-guilder notes of N.fl. 100,000,000, re deemable on July 15, 1987; 10V4% private loan of N.fl. 69,334,000, 13 annual re payments of approx. N.fl. 5,300,000 from June 11982. Appropriation of profit The proposal for allocation of the profit, already included in the annual accounts, is based on Article 12, para graph 2, of the Articles of Association, the text of which reads: 'From the net profit there shall in the first place be distri buted, if possible, six per cent dividend on the issued share capital. The amount then remaining shall be at the disposal of the General Meeting of Shareholders.' Current liabilities This item includes, inter alia, taxes payable amounting to N.fl. 4,131,000, indebtedness to bankers amounting to N.fl. 169,740,000 and the repayment instalments due in the next financial year on the Long-term debts men tioned above. Amsterdam, April 3, 1981 The Supervisory Council Wittert van Hoogland Thyssen-Bornemisza Jiskoot Van Doorne Stikker Orlandini Maris Loudon The Board of Managing Directors Heineken Van der Werf Van Schaik Van de Vijver 47

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 1980 | | pagina 47