Recommendations of the Supervisory Council
7
To the Shareholders
The annual accounts drawn up for the
financial year 1986, as shown on pages
30 to 50 of this report, have been sub
mitted to us by the Executive Board.
These annual accounts have been exam
ined by the auditors, KMG Klynveld
Kraayenhof Co. Reference is made to
page 51 for the Auditors' Report.
We recommend you to adopt the annual
accounts and, in accordance with the
proposal by the Executive Board, to fix
the dividend at N.fl. 89,911,000 and to
add the balance of the profit, amounting
to N.fl. 195,435,000, to the General re
serve. This proposal represents a divi
dend of N.fl.3.50 per share of N.fl. 25.
par value, of which N.fl. 1.50 was already
made payable as interim dividend on
September 19. 1986.
At the Extraordinary General Meeting of
Shareholders held on September 26,
1986, Mr. C.J. van der Klugt was ap
pointed to the Supervisory Council of our
Company. In view of his great expertise
and many years' experience in business,
we are grateful that he has joined our
Council.
At the General Meeting of Shareholders
to be held on April 24, 1987, Mr. H.H.
Thyssen-Bornemisza and Mr. A. Jiskoot
will resign by rotation from the Super
visory Council.
Mr. Thyssen-Bornemisza is not available
for reappointment. He has been a mem
ber of the Supervisory Council since
January 21, 1966, and during the period
from May 1981 to May 1985 he was the
Chairman of our Council. His colleagues
wish to express great appreciation and
gratitude for his dedication during this
long period. The vacancy arising through
the retirement of Mr. Thyssen-Bornemisza
will not be filled at present.
Mr. Jiskoot is eligible for reappointment.
We shall submit a binding nomination to
the meeting for the appointment of a
member of the Supervisory Council.
We would like to take this opportunity to
express our gratitude to the Executive
Board and the employees for the con
tinued dedication shown in the past year,
as a result of which the enterprise has
again prospered in many respects.
Amsterdam, March 27, 1987
Orlandini
Thyssen-Bornemisza
Jiskoot
Maris
Loudon
De Bruyne
Hooglandt
Van der Klugt
