Report and Recommendations of the Board of Directors
To Stockholders C.J.M. Scholtes and H.W Unger, whom we had
come to know as good fellow directors and to
On the basis of the supervision exercised by whom we are grateful for their constructive con
us and supported by the opinion of the auditors, tributions.
Van Dien Co., who have issued an unqualified
report, we have approved the financial statements As per December 31, 1986, Mr. J.W van Dijk
for 1986 drawn up by the executive board, as tendered his resignation as president of the exec-
indicated by our joint signature appended utive board, and this was accepted by the board
thereto. These financial statements include the of directors. Member of the executive board, Mr.
consolidated statements of Friesch-Groningsche WA.J.M. van der Heijden, was appointed his suc-
Hypotheekbank N.V and the company balance cessor.
sheet and income statement as presented on page
21 et seqq. of this annual report. We recommend At the forthcoming annual general meeting,
that you adopt the financial statements as pre- Messrs. A.G. van den Bos, president, and J.C.
sented in this annual report. Smit, former president of our board, will retire as
directors. We owe a debt of enormous gratitude
At the extraordinary general meeting of to both gentlemen for their energies on behalf of
stockholders held on June 6, 1986, Messrs. L. van the company and for the wisdom and expertise
Dongen and B. Zevenbergen retired as members with which they have served it. At the general
of the board of directors. With effect from the meeting of stockholders, a resolution will be put
same date, Messrs. F.A.A. Stapels and H.B. van that Mr. J.J. Kaptein be appointed to the board of
Wjk were appointed members of the board of directors, acting in the capacity of delegate mem-
directors. Mr. C.J.M. Scholtes had already been ber. We heartily support his appointment,
appointed member of the board of directors with
effect from the annual general meeting held on The board of directors met frequently dur-
May 14, 1986. Mr. Ph. Leenman had previously ing the year under review owing to the scale of
announced his intention to retire from our board the problems confronting the company and the
when he retired from the board of management need for extremely drastic and complicated solu-
of Postbank N.V He was succeeded by Mr. H.W tions. It was because of this situation that, as
Linger with effect from September 1, 1986. We already mentioned, an extraordinary general
are greatly indebted to each and every one of the meeting of stockholders was held on June 6,
retiring members referred to for their specific T986. Meanwhile, on February 6, 1987, the public
contributions and expertise. offer made by AEGON N.V for the common
stock was approved, along with yet another
Owing to the events, described in greater amendment to the articles of incorporation,
detail elsewhere in this report, which took place which was necessary for the offer to proceed, as
at the end of the year under review, and which well as the granting to AEGON N.V of the right
culminated in a public offer being made by to acquire shares of preferred C stock.
AEGON N.V for the common stock as well as in The company now forms a virtually wholly-
the withdrawal of Postbank N.V as stockholder, owned subsidiary of the AEGON Group. We trust
we have since taken leave of the two members of that the company has now entered calmer waters
our Board representing Postbank N.V, Messrs. and can look to a sound future.
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