APPROPRIATION OF RESULT
Contrary to the provisions in the preceding clause,
the increase as per December 31, 1986, will not
amount to 8% but to a fraction of 8%, the
numerator of which is equal to the number of days
elapsing between June 5, 1986, up to and including
December 31, 1986, and the denominator is equal
to 365. In calculating the increase, a month shall be
taken as having the correct number of days and the
year as having 365 days;
- RD is compensation due to AEGON N.V. and to
Postbank N.V. (which assigned this compensation to
AEGON N.V.) for loss of interest of a loan, the
principal of which shall not exceed NLG
410,000,000, which AEGON N.V. and Postbank
N.V., established at Amsterdam, each granted to
Transveer B.V., a private limited liability company
established at Utrecht. The compensation for
AEGON N.V. and Postbank N.V. (which assigned
this compensation to AEGON N.V.) will amount to
3 1/2% each per annum on the outstanding amount
of each party’s loan. The compensation will be
calculated at the end of each calendar year, begin
ning December 31, 1986, and will be aggregated
with the amounts of compensation calculated in
respect of preceding years. The balance at the end of
each calender year, beginning December 31, 1987,
will be increased by 8% and this increase will be
added to the balance, so that in subsequent years the
increase will be calculated on the thus increased
balances. In the calculations as referred to above, a
month shall be taken as having the correct number
of days and the year as having 365 days;
- GU is the total of the amounts made payable to
AEGON N.V. in accordance with its afore
mentioned earnings rights. Commencing at the end
of the first calendar year in which such distribution of
earnings is made payable, these amounts will be
increased by 8% at the end of each calendar year,
which increase as per the date of increase will be
added to the amounts on which the increase has been
calculated, so that in subsequent years the increase
will be calculated on the thus increased amounts.
At the end of a calendar year in which a distribution
of earnings is made payable, the increase
in relation to the amount of said distribution of
earnings will not amount to 8% but to a fraction of
8%, the numerator of which is equal to the number
of days elapsing between the date on which the
distribution of earnings concerned is made payable at
the end of the calendar year and the denominator is
equal to 365. In this calculation, a month shall be
taken as having a correct number of days and the
year as having 365 days.
The total amount of the result of NLG 67.3 million
is added to other reserves.
According to Article 33 of the articles of
Incorporation of Friesch-Groningsche Hypotheek
bank N.V., an amount of NLG 10.8 million will be
paid to the holden of preferred A stock.
35
APPROPRIATION OF EARNINGS
PAYMENT OF DIVIDEND TO THE HOLDERS OF
PREFERRED A STOCK
