Report of the Supervisory Board
To the shareholders
On the basis of the supervision exercised by us and the information
supplied by Van Dien Co, auditors, who have reported on their
examination and issued their auditors' report, we have determined
the annual accounts for 1978 as represented on pages 48 and 49,
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 28 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 25th April 1978 Mr. Ph.A.J. Mees, a supervisory director who
retired by rotation, was re-elected. On accourrt of his attaining
the age limit set Mr. Mees will resign office per 26th April 1979.
We wish to thank him for the many and important services
he rendered to the company during the almost 30 years that he
was a supervisory director.
At that meeting we also announced our intention to re-elect
Mr. E.G. Stijkel, who will retire by rotation per the date of the
annual general meeting to be held in 1979.
At the extraordinary general meeting of shareholders held on
1st November 1978 we announced our intention to fill the vacancy
that will arise in 1979 by the retirement of Mr. Ph.AJ. Mees by
appointing Mr. J. de Wilde, who will resign his office as chairman
of the Managing Board at the end of April 1979.
We are pleased to thank Mr. de Wilde for the excellent way
in which he has served the interests of our company for more than
25 years. Under his dynamic and inspiring management the
Friesch-Groningsche Hypotheekbank went through a period of
considerable growth.
It is intended that Mr. J.W. van Dijk, who has been appointed
a member of the Managing Board with effect from 1st February
1979, will succeed Mr. de Wilde as chairman of that Board.
Due to serious illness Mr. Ph.C.M. van Campen has been unable
to fulfil his function as chairman of our Board for the last six
months. We express the wish that it may be given to him to take
part in our meetings again in the near future.
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 are also pleased to endorse the
words of thanks which the Managing Board has addressed to
all employees.
Amsterdam, 13th March 1979
The Supervisory Board:
A.W.J. Caron, acting chairman
