Supplementary notes
Auditors' Report
Introduction <y/e have audited the 1999 financial
statements of Heineken N.V., Amsterdam, as
included on pages 45 to 69 of this report. These
financial statements are the responsibility of the
company's management. Our responsibility is to
express an opinion on these financial statements
based on our audit.
Scope we conducted our audit in accordance
with auditing standards generally accepted in the
Netherlands. Those standards require that we plan
and perform the audit to obtain reasonable
assurance about whether the financial statements
are free of material misstatement.
An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures
in the financial statements. An audit also includes
assessing the accounting principles used and
significant estimates made by management, as
well as evaluating the overall financial statement
presentation. We believe that our audit provides
a reasonable basis for our opinion.
Opinion [n our 0pini0rii the financial statements
give a true and fair view of the financial position
of the company as of December 31, 1999 and of
the result for the year then ended in accordance
with accounting principles generally accepted in
the Netherlands and comply with the financial
reporting requirements included in Part 9,
Book 2, of the Netherlands Civil Code.
Amsterdam, March 1, 2000
KPMG Accountants N.V.
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
EUR 125.4 million be appropriated for payment of
dividend and that EUR 391 million 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'
pursuant to the Netherlands Civil Code.
Heineken Holding N.V., a company listed on the
Amsterdam Exchanges N.V., holds 50.005% of the
shares of Heineken N.V..
Post-balance sheet events
On January 27, 2000 Heineken and Diageo have
completed the transaction concerning the acquisi
tion of 98.7% interest in Grupo Cruzcampo S.A.,
Spain. This transaction was cleared by the
Spanish government in December 1998.
The total investment amounts to approximately
EUR 800 million.
HEINEKEN N.V.
SUPPLEMENTARY
NOTES
19 9 9
69
