Report of the supervisory board
To the shareholders
On the basis of the supervision exercised by us and the informa
tion supplied by 'Van Dien Co, accountants', who have
reported on their examination and issued their auditors' report, we
have determined the annual accounts for 1977 as represented on
pages 46 and 47, as well as the consolidated annual figures of
the finance business and the combined annual figures of the real
estate companies and other diversifications and the explanatory
notes pertaining thereto as represented on page 26 ff. of this
annual report.
We agree to the additions to the reserves as proposed by the
Managing Board. We would advise that you confirm the annual
accounts in conformity with the documents presented in this
annual report.
Per the date of the annual general meeting of shareholders held
on 26th April 1977 the supervisory directors who retired by
rotation, viz. Messrs. P. M.H.van Boven and J.Loopuyt, were
re-elected. At that meeting we also announced our intention to
re-elect Mr. Ph.A. J. Mees, who will retire by rotation per the date
of the annual general meeting to be held in 1978. At the
extraordinary meeting of shareholders held on 24th October 1977
shareholders did not raise any objection to this irttention. The
Staff Council had previously declared that they did not wish to
exercise their right of objection in this matter.
At the annual general meeting of shareholders held on 26th April
1977 we also announced our decision to appoint Messrs.
G. J. Jansen and A. C.van Uchelen members of the Managing
Board per 1st May 1977.
We wish to conclude by expressing our thanks to the members
of the Managing Board for the way in which they have fulfilled
their duties during the past year. We also wish to endorse the
words of thanks which the Managing Board has addressed to all
employees.
Amsterdam, 8th March 1978
The Supervisory Board:
Ph.C.M.van Campen, chairman
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