Recommendations of the Supervisory Council
7
To the Shareholders
The annual accounts drawn up for the
financial year 1987, as shown on pages
28 to 48 of this report, have been sub
mitted to us by the Executive Board.
These annual accounts have been exa
mined by the auditors, KPMG Klynveld
Kraayenhof Co. The Auditor's Report
is included on page 49.
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 remainder of the profit, amounting
to N.fl. 196,772,000, to the General re
serve. Per share of N.fl. 25.par value,
this proposal represents a dividend of
N.fl. 3.50 of which N.fl. 1.50 was already
made payable as interim dividend on
September 18, 1987.
At the General Meeting of Shareholders
to be held on April 28. 1988. Mr. J. van
der Werf will be retiring from the Execu
tive Board. He will then have been in the
Company's employ for nearly 40 years;
he has been a member of the Executive
Board since 1969.
We are very grateful to Mr. Van der Werf
for his valuable efforts during many years.
In particular we would mention the import
ant contribution which he has made to
the international growth of the enterprise.
It will be proposed to the General Meeting
of Shareholders that Mr. A. Oostra be
appointed to the Executive Board as from
April 28, 1988. A binding nomination to
that effect will be submitted by us to the
meeting.
At the same meeting Mr. A.G. Maris and
Jhr J. Loudon will be retiring by rotation
from the Supervisory Council.
They are both immediately eligible for
reappointment. We shall submit binding
nominations to the meeting for the
appointment of two members of the
Supervisory Council.
During this year Mr. A.H. Heineken will
reach the age of 65. In view of this he
has indicated his intention to retire as
Chairman of the Executive Board at the
General Meeting of Shareholders to be
held in 1989. It is intended that
Mr. Heineken should become Chairman
of the Company's Supervisory Council
as well as a delegate member of the
Supervisory Council.
We should like to take this opportunity
to express our gratitude to the Executive
Board and the employees for the conti
nued dedication shown in the past year,
as a result of which the enterprise has
again prospered in many respects.
Amsterdam, March 25, 1988
Orlandini
Jiskoot
Maris
Loudon
De Bruyne
Hooglandt
Van der Klugt
