Appropriation of profit
Provisions of the articles of association concerning
the distribution of profit
In accordance with article 31,
paragraphs 4 and 5, of the articles of
association of FGH Bank N.V., as
adopted on 29 December 1995, the
provisions concerning the
appropriation of profit are as follows:
»KFBVK
Par. 4. First, any losses from
previous years shall be made up from
the profit as disclosed 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 1998
Pending a resolution on this matter
by the General Meeting of
Shareholders, the whole net profit
totalling NLG 67.8 million have been
added to the other reserves.
