Appropriation of Profit Provisions of the Articles of Incorporation concerning the Distribution of Profit 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 profit are as follows: Reserves Par. (4) First, any losses from previous years shall be made good from the profit as shown in the adopted financial statements insofar as such losses have not been set off by other means, then the reserves required by law shall be formed. Par. (5) The profit remaining after application of the provisions specified in the preceding paragraph shall be at the 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 profit for 1996 Pending a resolution on this matter by the General Meeting of Shareholders, the whole net profit totalling NLG 84.5 million have been added to the 29 reserves.

Rabobank Bronnenarchief

Annual Reports FGH Bank | 1996 | | pagina 31