Appropriation of profit
Provisions of the articles of association concerning
THE DISTRIBUTION OF PROFIT
In accordance with article 30, paragraphs 4 and 5, of the
articles of association of FGH Bank N.V., as adopted on
29 December 1995, the provisions concerning the
appropriation of profit are as follows:
RESERVES
Par. 4. First, any losses from previous years shall be offset
by the profit as disclosed in the adopted financial
statements insofar as such losses have not been
offset by other means and thereafter the reserves
required by law shall be formed.
The profit remaining after application of the
provisions specified in the preceding paragraph
shall be at the disposal of the Annual General
Meeting of Shareholders.
The Annual General Meeting of Shareholders
shall also have the power to release all or part of
the reserves other than statutory reserves and
allocate them for payment.
DISTRIBUTION OF THE PROFIT FOR 2002
In anticipation of a resolution to this effect by the Annual
General Meeting of Shareholders, 32.7 million of the
whole net profit totalling 38.6 million is shown under
'Other liabilities' as distributable dividends.
Par. 5.
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