Appropriation of Result
Provisions of the Articles of
Incorporation concerning the
Distribution of Earnings
In accordance with Article 31, paragraphs 4 and 5 of the
Articles of Incorporation of FGH BANK N.V., as adopted
on December 29, 1995, the provisions concerning the
appropriation of earnings are as follows:
Reserves
Par. (4) First, any losses as shown in the adopted
financial statements shall be made good from the
earnings insofar as these losses have not been offset by
other means, then the reserves prescribed by law shall
be formed.
Par. (5) The earnings remaining after application of the
provisions specified in the preceding paragraph shall be
at the free disposal of the General Meeting of
Shareholders. The General Meeting of Shareholders
shall also have power to abolish all or part of the
reserves other than statutory reserves and allocate them
for payment.
Distribution of the result for 1995
Pending a decision on the matter by the General
Meeting of Shareholders, the whole of the profits
totalling NLG 104.6 million have been added to the
reserves.
Payment of the dividend to former
holders of preference shares
In accordance with Article 33 of the Articles of
Incorporation of FGH BANK N.V. valid up to
December 29, 1995, a dividend of NLG 10.8 million
will be paid out to former holders of preference shares
(8% of NLG 135 million).
