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 1979 as represented on pages 52 and 53,
as well as the consolidated annual figures of the finance business,
the combined annual figures of the real estate companies and other
diversifications and the explanatory notes pertaining thereto as
represented on page 30 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 1979 Mr. E.G. Stijkel, a supervisory director who retired
by rotation, was re-elected.
The vacancy arisen by Mr. Ph.A.J. Mees' attaining the age limit set
was filled by the appointment of Mr. J. de Wilde as a supervisory
director.
Mr. de Wilde then succeeded Mr. Ph.C.M. van Campen as chairman
of our Board, the latter not wishing to offer himself for re-election
now for reasons of health. We intend to fill the vacancy thus arisen
by the appointment of Mr. A.G. van den Bos per the date of the next
annual meeting.
We take this opportunity to express our grateful acknowledgements
to Mr. Van Campen for the many services he rendered to the company
in his capacity as chairman of our Board.
For the sake of continuity in the Supervisory Board we have
decided to increase the number of supervisory directors to seven
for the time being. If you do not wish to exercise your right to make
recommendations, we intend to fill the vacancy thus arisen by
appointing Mr. J.C. Smit at the next annual meeting.
With respect to the vacancy created by the retirement by rotation
of Mr. A.W.J. Caron it is our intention to re-elect
Mr. Caron at the next annual meeting.
The Staff Council has been consulted about these appointments
and has not objected to them.
We express our thanks to the members of the Managing Board for
the way in which they have fulfilled their duties during the past
year. We wish to conclude by endorsing the words of thanks which
the Managing Board has addressed to all employees.
Amsterdam, 21st March 1980
The Supervisory Board
J. de Wilde, chairman
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