Report of the Supervisory Board.
To the General Meeting of Shareholders.
Pursuant to Article 20 of the Articles of
Association, and in the matter of the Annual
Accounts for 1985 of Algemene Bank Nederland
N.V., we have the honour to report as follows.
We have approved the Accounts of the
Company for 1985 as drawn up by the
Managing Board. We recommend that the
Annual Accounts, as presented, and the
accompanying report of the auditors,
KMG Klynveld Kraayenhof Co., be adopted.
We concur in the proposal of the Managing
Board that a dividend of 4% be paid on Priority
shares, and that holders of Ordinary shares
should receive a dividend of Fl. 27.00 per
Fl. 100.00 share, including the interim dividend
of Fl. 13.00. We also concur in the proposal that
a final dividend of Fl. 14.00 per Fl. 100.00
Ordinary share be declared, either wholly in
cash or, at shareholders' option, Fl. 4.00 in cash
and the balance in Ordinary shares, chargeable
to the Share premium reserve or, if desired, to
the general reserve, in the ratio of one new share
for every fifty shares held.
At the Annual General Meeting of Shareholders
to be held on Tuesday, 29 April 1986, Messrs.
G. van't Hull, E. K. den Bakker,
J. D. Hooglandt, S. Orlandini and A. G. van den
Bos will retire by rotation from the Supervisory
Board in accordance with the provisions of
Article 17 (2) of the Articles of Association. All
have offered themselves for reappointment.
They were reappointed by a decision of the
Supervisory Board, taken at its meeting on
21 March 1986.
At the same meeting, Mr. H. B. van Liemt was
elected to the Supervisory Board pursuant to
recommendation of the Managing Board.
Mr. Van Liemt is chairman of the Board of
Management of D.S.M. N.V.
These appointments were made after it had been
established that there was no objection on the
part of the Central Employees' Council and the
Shareholders' Committee.
The number of members of the Supervisory
Board was fixed at eighteen with effect from
29 April 1986. Members of the Board in
turn attended the consultative meetings of the
Central Employees' Council.
Amsterdam, 21 March 1986
On behalf of the Supervisory Board
D. de Bruyne, Chairman
G. van't Hull, Deputy Chairman
J. D. Hooglandt, Deputy Chairman/Secretary
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