Supplementary
notes
Amsterdam, March 10,1994
KPMG Klynveld
Appropriation of profit
Article 12, paragraph 4, of the Articles of Association lays
down:
'From the net profit there shall in the first place be
distributed, if possible, six per cent dividend on the issued
part of the share capital. The amount then remaining shall be
at the disposal of the General Meeting of Shareholders.'
From the net profit it will be proposed that
NLG 140,486,000 be appropriated for payment of dividend
and that NLG 378,260,000 be added to the general reserve.
Special rights under the Articles of Association
Article 7, paragraph 2, of the Articles of Association reads:
'The appointment of the members of the Executive Board
and of the Supervisory Council shall be made by the General
Meeting of Shareholders from a binding nomination of at
least two persons, to be drawn up for each appointment by
the Supervisory Council.'
Heineken N.V. is not a 'structuurvennootschap' in virtue of
the Netherlands Civil Code.
Heineken Holding N.V., a company listed on the
Amsterdam Stock Exchange, holds 50.005% of the shares of
Heineken N.V.
Post-balance sheet events
Early in 1994 Heineken reached agreement on the sale of the
50% interest in the Bols Benelux joint venture to the fellow-
shareholder Koninklijke BolsWessanen. Bols Benelux had a
net turnover of NLG 360 million for 1993 and had 380
employees at December 31, 1993. The sale will realize a book
profit of NLG 58 million.
On February 28, 1994, it was announced by Heineken that a
public offer is to be made for the shares still outstanding of
the holding companies of the Calanda Haldengut group in
Switzerland. If all the outstanding shares are tendered, this
will involve an investment of NLG 100 million, so that the
total investment will amount to a maximum of NLG 140
million.
Early in March 1994 agreement was reached in principle on
the acquisition of a 24.9% interest in the Polish brewery
company Zywiec S.A. If definitive approval is obtained, the
investment will be NLG 77 million.
Auditors' Report
We have audited the annual accounts for the year 1993
included in this report comprising the Balance Sheet as at
December 31, 1993, the Profit and Loss Account for 1993
and the Consolidated Statements for 1993 of Heineken N.V.,
Amsterdam, together with the notes. We conducted our audit
in accordance with auditing standards generally accepted in
the Netherlands.
In our opinion these annual accounts give a true and fair view
of the financial position of the company at December 31,
1993, and of the results for the year then ended and also
comply with the other Dutch legal requirements for financial
statements.
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